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WordNet-Online
Definitions from WordNet
Noun close corporation has 1 sense
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Definitions from the WebClose CorporationDefinition:A close corporation refers to a type of business organization that has a limited number of shareholders, typically family members or a small group of individuals who are actively involved in the company's management. It is a legally recognized entity that combines elements of a corporation and a partnership. Sense 1:As a noun, a close corporation is a privately held company whose ownership is restricted to a small number of shareholders who are often family members or close associates. It offers limited liability protection to its shareholders. Example sentence: The father and his two sons formed a close corporation to manage their family-owned restaurant business. Sense 2:As an adjective, close corporation describes the ownership structure and characteristics of a company that is closely held by a small group of shareholders. Example sentence: The company decided to convert its publicly traded status into a close corporation to maintain more control over decision-making. Sense 3:Close corporation can also refer to a legal provision that enables owners of such corporations to operate with more flexibility and fewer formalities compared to larger publicly traded corporations. Example sentence: The close corporation structure allows for swift decision-making and greater responsiveness to market changes. Suggested Related Products on Amazon: | ||||
close-to-the-ground close-up close close close at hand close by close call close circle close corporation close down close fisted close in close in time close in upon close indent close knit close minded
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