How do we define: close corporations?
A close corporation is a corporation that possesses the following traits: a small number of shareholders; no ready market for the corporation's stock; and substantial participation by the majority shareholders in the management of the corporation. This kind of corporation typically has 30 to 50 stockholders and is a good match for businesses in which the majority of stockholders is actively involved in the management of the company.
Every new business owner must learn about incorporating their company. Learning how to incorporate your company is critical to starting up and protecting your future.