proprietary company
noun[C]
ukusacompanythatownsenoughsharesof anothercompanytocontrolit:
Mutualsdeliveredbetterreturnsthanproprietarycompanies.
LAW
inAustralia, New Zealand, andSouthAfrica, atypeoflimitedcompany(= one whoseownersonly have topaypartof themoneytheyoweif itfails).Proprietarycompanieshave thelettersPtyaftertheirname.