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English definition of “proprietary company”

proprietary company

noun [C]
 
 
a company that owns enough shares of another company to control it: Mutuals delivered better returns than proprietary companies.
LAW in Australia, New Zealand, and South Africa, a type of limited company (= one whose owners only have to pay part of the money they owe if it fails). Proprietary companies have the letters Pty after their name.
(Definition of proprietary company from the Cambridge Business English Dictionary © Cambridge University Press)
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