Closely Held Corporations

A closely held corporation is a type of business entity where a small number of individuals own the shares. These owners are often involved in the management of the company, allowing for more control over decisions. Unlike publicly traded companies, closely held corporations do not sell shares to the general public, making it easier for owners to maintain privacy and flexibility in operations. This structure can benefit family businesses or small partnerships, as it allows for direct involvement and simpler decision-making processes, while also providing some liability protection to its owners.