Privately Owned
Categories: Incorporation
Two kids in a garage start a computer company. They're funded by the hundred grand that their dead grandma willed to them. They're private.
So is that chain of 12 dry cleaners, the people who smile so broadly at you when you bring in your cardigans. So is the local grocery store.
Okay, so...what distinguishes all these people as being private? Their funding came from private sources. Some day the two kids in the garage hope to go public, raising money from the public, and then adhering to the myriad rules of public disclosure about the issues of their business. As soon as you take money from the public, all bets are off for your having total control over your business.
So yes, it's nice to see your ticker symbol trading on NASDAQ, but there's often a Faustian deal to be traded when you do that.
