From Longman Business Dictionaryprivate corporationˌprivate corpoˈrationORGANIZATIONS1a corporation owned by people or other companies, rather than by the governmentShe opposes government aid to private corporations.2a corporation whose shares are not available for sale, for example because they are owned by the person who started the companyhis private corporation, in which he and his wife are sole shareholders → corporation
