close corporation


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Related to close corporation: Private company

close corporation

 (klōs)

close corporation

(kləʊs)
n
(Commerce) South African a small private limited company. Abbreviation: c.c.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.close corporation - a corporation owned by a few people; shares have no public market
corp, corporation - a business firm whose articles of incorporation have been approved in some state
family business - a corporation that is entirely owned by the members of a single family
References in classic literature ?
This guild is a close corporation, and is governed by strict laws.
For estate tax valuation purposes, shares of a close corporation are those that are "not listed on any stock exchange, not dealt in actively by brokers, not quoted on a bid and asked price, not sold by the personal representative of decedent, or at private sale, within a reasonable period near decedent's death.
The Swakara Board had its own stand and for the fourth year in a row, the Swakara collection was developed in close corporation with Kopenhagen Fur Studio.
To the extent a transferor parent is inclined to dominate governance without necessarily attending to systematic and periodic shareholder and director meetings, the adviser may be well-advised to memorialize that scenario pursuant to a close corporation agreement (if available under local law).
3] Because of the unusual and intimate relationship between shareholders and the actual operations of the close corporation, many courts have recognized that control of this entity is peculiarly susceptible to misuse or abuse by the majority shareholders--commonly referred to as minority shareholder oppression or exploitation--including the majority shareholders' failure to declare dividends, unfair distribution of business profits to the majority shareholders in the form of salaries or bonuses, and the discharge of a minority shareholder as a corporate employee.
Sidney Hanstein, a young Namibian entrepreneur, saw the gap and founded Outsourcing Solutions, a registered Namibian Close Corporation based in Windhoek.
There are no court cases indicating whether or not a close corporation agreement that retains a controlling vote to the transferor of voting stock would cause the stock to be included in his estate on death if the contract was in force at his death or within three years of death.
NASDAQ:HRLY), announced today that it has signed an exclusive Sales and Marketing Agreement with EADS ewation GmbH, Grintek ewation ("GEW"), Sysdel Close Corporation and Telephan AS to market products under the registered trademark of MRCM(TM).
Technical Solutions, LLC, a global developer of HIGH AVAILABILITY SOFTWARE solutions for telecommunication and the enterprise markets, in close corporation with Sun Microsystem, Microelectronics Division, has ported its H.
a California close corporation, in exchange for the issuance by Edudata Corporation of 5,000,000 shares of its common stock.