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Meaning of “closely held company” in the English Dictionary

"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)
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