(BUSINESS) a closely-held corporation has all or most of its stock owned by the management of the firm. In many cases, it has no stock at all (see "going public"), in which case it is a private company.
Usually people say "private corporation" to mean any company that is unaffiliated with the government, or any company run mainly for profit. It's impossible to buck this trend, so corporations with no issues of stock, or negligible amounts of stock held by the public, are called "private companies" despite the fact that not all companies are corporations. Cargill, Inc., for example, has annual revenues of $117 billion, but no shares available for trade. On the other hand, PricewaterhouseCoopers and Ernst & Young are private companies but not a corporations. They are limited liability partnerships. The term "closely held" would not apply to them since partnerships do not issue stock.
Usually people say "private corporation" to mean any company that is unaffiliated with the government, or any company run mainly for profit. It's impossible to buck this trend, so corporations with no issues of stock, or negligible amounts of stock held by the public, are called "private companies" despite the fact that not all companies are corporations. Cargill, Inc., for example, has annual revenues of $117 billion, but no shares available for trade. On the other hand, PricewaterhouseCoopers and Ernst & Young are private companies but not a corporations. They are limited liability partnerships. The term "closely held" would not apply to them since partnerships do not issue stock.
Koch Industries is a super-sized, closely held corporation with two owners--Charles and David Koch, heirs to the oil refiner Fred Koch. Thanks to this peculiar status, magazines like Forbes are not allowed to report ANY financial statistics of the company at all (sales figures are suspiciously rounded to "$100,000,000,000.00").
Publix Super Markets (at the other end of the spectrum) is closely held--by its 125,000 employees.
Publix Super Markets (at the other end of the spectrum) is closely held--by its 125,000 employees.
by Abu Yahya September 3, 2010
Get the closely held mug.When someone says their shop is closed, it means that they are no longer dtf. Commonly said immediately after orgasm.
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by Yana A September 28, 2006
Get the close the light mug.An amazing movie, starring Natalie Portman, Jude Law, Julia Roberts, and Clive Owen. A devastatingly depressing story that documents the truth about what many people consider to be "love". Deff a must see for...oh, say, everyone in the world.
Closer Quotes:
"People who fall in love at first sight never stop looking."
"I know who you are. I love you. I love everything about you that hurts."
"There's a moment, there's always a moment. 'I can do this, I can give into this, or I can resist it,' and I don't know when your moment was, but I bet there was one."
"Everybody wants to be happy."
--"Depressives don't. They want to be unhappy to confirm they're depressed. If they were happy, they couldn't be depressed anymore. They'd have to go out into the world and live--which can be depressing."
"Lying's the most fun a girl can have without taking her clothes off--but it's better if you do."
"You KISSED me!"
--"What are you, twelve?"
"People who fall in love at first sight never stop looking."
"I know who you are. I love you. I love everything about you that hurts."
"There's a moment, there's always a moment. 'I can do this, I can give into this, or I can resist it,' and I don't know when your moment was, but I bet there was one."
"Everybody wants to be happy."
--"Depressives don't. They want to be unhappy to confirm they're depressed. If they were happy, they couldn't be depressed anymore. They'd have to go out into the world and live--which can be depressing."
"Lying's the most fun a girl can have without taking her clothes off--but it's better if you do."
"You KISSED me!"
--"What are you, twelve?"
by kayyyyyyyyyyyyyyyyy May 5, 2006
Get the closer mug.Cloos also applies to your theoretical "hacker status."
If you are at Cloos hacker status, you can hack into the pentagon without being tracked back.
If you are at Cloos hacker status, you can hack into the pentagon without being tracked back.
by cool man salad April 3, 2004
Get the Cloos mug.When a toilet becomes so full of shit you have to use your hand to punch and rip away all of the toilet paper and crap blocking the tube in the toilet.
Koolandria was so fed up with plunging her clogged toilet that she decided the only way to fix the problem was to flog the clog.
by Static1432 October 23, 2009
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