Usually means: Owned by a few individuals.
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We found 18 dictionaries that define the word closely held:

General (10 matching dictionaries)
  1. closely held: Merriam-Webster
  2. closely-held: Vocabulary.com
  3. closely-held: Wordnik
  4. closely held: Wiktionary
  5. closely-held, closely held: Dictionary.com
  6. closely-held: Rhymezone
  7. closely-held: FreeDictionary.org
  8. closely-held: Mnemonic Dictionary
  9. closely-held: TheFreeDictionary.com
  10. closely held: Longman Dictionary of Contemporary English

Business (8 matching dictionaries)
  1. closely held: Merriam-Webster Legal Dictionary
  2. MoneyGlossary.com (No longer online)
  3. INVESTORWORDS (No longer online)
  4. CLOSELY HELD: Accounting Glossary
  5. Glossary of Legal Terms (No longer online)
  6. Closely Held: Legal dictionary
  7. Closely held: Financial dictionary
  8. Yahoo Tax Center Glossary (No longer online)

Definitions from Wiktionary (closely held)

adjective:  Of a corporation or other business, owned by a small number of people, and not having shares of ownership sold via a stock exchange or other public market.

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