Closely held company A company who has a small group of controlling shareholders. In contrast, a widely-held firm has many shareholders. It is difficult or impossible to wage a proxy battle for any closely-held firm. -------------------------------------------------------------------------------- closely held company A firm whose shares of common stock are owned by relatively few individuals and are generally unavailable to outsiders. Also called closed corporation

Infrastructure The basic physical systems of a business or nation. Notes: Transportation, communication, sewage, water, and electric systems are all a part of infrastructure. These systems tend to be high cost investments however, they are needed for a country to be efficient and productive.