MLchartDataset catalogue

Close corporation

Term · Law · MLC-T-LAW-005315

A corporation whose shares are held by a small number of shareholders, often family members or a few individuals, and are not publicly traded. These corporations are characterized by a more informal management structure and fewer regulatory requirements compared to public companies. State laws, such as the Model Business Corporation Act, provide specific provisions for their formation and operation.

Table 1. Record
IdentifierMLC-T-LAW-005315
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-005315",
  "term": "Close corporation",
  "field": "Law",
  "definition": "A corporation whose shares are held by a small number of shareholders, often family members or a few individuals, and are not publicly traded. These corporations are characterized by a more informal management structure and fewer regulatory requirements compared to public companies. State laws, such as the Model Business Corporation Act, provide specific provisions for their formation and operation.",
  "url": "https://mlchart.com/terminology/law/close-corporation/"
}

Record 850 of 5,439 in Law terminology (MLC-0107). Request the full dataset.