What is another word for closed corporation?
Pronunciation: [klˈə͡ʊzd kˌɔːpəɹˈe͡ɪʃən] (IPA) 
A closed corporation is also referred to as a private corporation or a closely held corporation. This type of corporation generally has a small number of shareholders, who are usually members of a family or friends. Another synonym for a closed corporation is a closely held company, which emphasizes the close relationships among the business owners. In some countries, a closed corporation may also be called a S-corporation, referring to its tax treatment under the Internal Revenue Service code. Some other terms that may be used interchangeably with closed corporation include close corporation, family corporation, or privately held corporation. Whatever term is used, the defining characteristic of this type of corporation is its limited number of shareholders and the close control they maintain over the business.
