Definitions for "Close corporation"
A corporation whose shares are not freely traded and are held by a limited number of people.
A corporation that is owned and operated by a few individuals, usually family members.
(statutory close corporation) A corporation whose ownership is held by a single person or a small group of people and where the shareholders are involved in the conduct of business.  Statutory requirements for close corporations vary from state to state, but typically limit the number of shareholders and require that the shareholders enter into a written agreement concerning voting and other rights. To learn more about close corporations, click here.
a legal entity on its own
a separate legal persona as it can acquire its own rights and obligations independent to its members whose liability will be limited to the contributions of the members
Keywords:  argument
Closing Argument
a simple, cheap and more flexible type of business entity for the small enterprise
a suitable, and popular, form of structuring small business for investors who are individuals
Keywords:  according, ownership, act, form
a form of ownership (according to Act 74 of 1984)