What does Privately Held Corporation mean? Read on to discover the definition & meaning of the term Privately Held Corporation - to help you better understand the language used in insurance policies.
Privately Held Corporation
A type of corporation whose shares are not for sale to the public. Rather, the shares of privately held companies are usually owned by a small group of persons often, although not always, family members and/or senior executives and managers of the company. Unlike publicly held corporations, the shares of stock in privately held corporations are not listed on the major stock exchanges.
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