# Closely Held Company

**IRI:** https://folio.openlegalstandard.org/RCbUubd1JjGvtMVS3kxGZxR

## Labels

**Preferred Label:** Family Wealth Entity

**Alternative Labels:**

- Family-Owned Business

## Definition

A closely held company is a business entity in which a small group of shareholders controls the majority of shares. Typically, these shareholders are family members or close associates, and the company's shares are not publicly traded.

## Sub Class Of

- https://folio.openlegalstandard.org/RCua1MtzwNcjfYov8VFcoV3

**Deprecated:** False