Noun
a corporation owned by a few people; shares have no public market
Source: WordNetIf the great Government of the United States were a private corporation no bank would take its name on a piece of paper, because it has cynically repudiated the words engraved upon its bonds. Garet Garrett
I think it's a tragedy of the first proportion that a private corporation can be subjected to what I would characterize as a shakedown. Joe Barton