noun
a corporation owned by a few people; shares have no public market
• Hypernyms: ↑corporation, ↑corp
• Hyponyms: ↑family business
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\\ˈklōs-\ noun1. : a self-perpetuating body each part of which fills its own vacancies
2. : a corporation whose stock is held by a few persons who are often those active in the management
3. : a small tightly exclusive group cool to outsiders
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/klohs/.
See closed corporation.
[1915-20]
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close corporation noun
A corporation which fills up its own vacancies, without outside interference
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Main Entry: ↑close
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close corporation «klohs»,
= closed corporation. (Cf. ↑closed corporation)
Useful english dictionary. 2012.