When a corporation's shares are owned by a few individuals who are associated with the firm's management,we say that the stock is closely held.

Name: When a corporation's shares are owned by a few individuals who are associated with the firm's management,we say that the stock is closely held.
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Closely held stock refers to shares that are held by a small group of individuals who are usually associated with the management of the corporation.

When a Corporation's Shares Are Owned by a Few Individuals