Closely Held

Corporation most of whose voting stock is held by a few shareholders; differs from a Closed Corporation because enough stock is publicly held to provide a basis for trading. Also, the shares held by the controlling group are not considered likely to be available for purchase.

A phrase used to describe the ownership, management, and operation of a corporation by a small group of people.

In a closely held corporation, the same people often act as shareholders, directors, and officers, and no outside investors exist.