Private Corporation
From LawDepot Law Library
Definition of "Private Corporation"
A private corporation is a corporation owned by a small number of people through a limited issue of shares in the corporation. The shareholders may also participate in the management of the corporation. There is no public issue of shares and as a result there is no public market to trade shares. A private corporation is the opposite of a public company. A private corporation typically relies on an exemption from registration and prospectus requirements under any securities legislation.
