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English definition of “private company”

private company

noun [C]    
FINANCE a company that is owned by one person or a small group of people, for example a family, and whose shares are not traded on a stock market: A private company can pay its directors whatever it chooses. → Compare public company
ECONOMICS a company that is not owned by the government: private and state-run companies
(Definition of private company noun from the Cambridge Business English Dictionary © Cambridge University Press)
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