Meaning of “closely held company” in the English Dictionary

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"closely held company" in Business English

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closely held companynoun [ C ]

uk us also closely held corporation, also close company

FINANCE, STOCK MARKET a company whose shares are publicly traded, but most of whose shares are owned by five people or fewer:

Being a closely held company means being able to take risks and try new things - the creative part of business.

(Definition of “closely held company” from the Cambridge Business English Dictionary © Cambridge University Press)