They were formed by the state legislature and ran with its feet
They are run by boards of directors.
Zaibatsu is the term for massive corporations in Japan that were run by single families. This is in reference to the pre-WW2 era.
independently run
There are various types of corporations, including C corporations, S corporations, nonprofit corporations, and foreign corporations. C corporations are the most common and have no restrictions on the number or type of shareholders. S corporations are more limited in terms of ownership and taxation benefits. Nonprofit corporations are organized for charitable, educational, religious, or other purposes, while foreign corporations are formed in one country but operate in another.
Zaibatsu
zaibatsu
Merger
As of May 2013, The Nevada Incorporation (a corporation incorporated under Chapter 78 of Nevada Revised Statuses of the US state of Nevada) has formed 20 corporations.
They are run by boards of directors. -Apex
privatized
Privatized