close corporation


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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.
Yang also represented Teko Trading CC, a close corporation of Lameck and Mokaxwa.
He noted that while AAM was not a closely held corporation, it acted like a close corporation or a partnership, and English, while not a majority shareholder, had similar authority given his control over who sits on the board.
During the meeting, participants were of the view that for preparing a workable, long-term and comprehensive master plan, all the relevant departments should be on board and that there must be close corporation and complete understanding between these departments.
Where plaintiff's economic duress was caused by her own retirement and where she intelligently and voluntarily entered unit purchase agreement to become minority stakeholder in close corporation, there was no actionable economic duress that induced plaintiff to sell her stake to majority shareholder and execute mutual release of claims.
The close corporation between the two countries against Gaza started officially after both countries signed a peace treaty in 1979 to normalize the relationship after the six-day war.
Delaware's provisions were optional: an eligible company had to opt into them by filing with the Secretary of State as a close corporation covered by the statute.
shareholders in a close corporation could bring a similar suit if
In Delaware, for example, the following corporate forms are available: stock corporation; stock corporation-directors liability; public benefit corporation; non-stock corporation; exempt corporation (non-profit); and close corporation.)
It addresses corporations and corporate control transactions, special considerations in the close corporation context, the federal law of securities regulation, agency and unincorporated entities, and special transactional problems in small and start-up businesses, and it includes sidebars on numeracy in tax, accounting, and other relevant concepts, and exercises on ethics for business lawyers.
While setting out the oppression action as a tailored default term is sensible in the close corporation context where bargains are relational in character, it is important to recognize that most other categories of oppression action claimants arrange their corporate bargains through discrete contracts.