State Ownership Vs. Private Ownership
In the broadest sense, the term private corporation refers to any business not owned by the state. This usage is often found in former Communist countries to differentiate from former state-owned enterprises, but it may be used anywhere when contrasting to a state-owned company.
In the United States, the term privately held company is more often used to describe for-profit enterprises whose shares are not traded on the stock market.
Read more about this topic: Privately Held Company
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