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closed corporation

noun

an incorporated business the stock of which is owned by a small group.
Also close corporation.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019
British Dictionary definitions for closed corporation

closed corporation

noun

US a corporation the stock of which is owned by a small number of persons and is rarely traded on the open marketAlso: close corporation
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012