A private corporation is typically owned by its founders, management, or a collection of individual investors.
A corporation that has sold all or a portion of itself to the general public through an initial public offering is referred to as a public company.
What is difference between Private and Public Corporation ?
The way the two types of businesses approach public disclosure is one of the key distinctions. It is customary for a corporation to submit quarterly earnings reports to the Securities and Exchange Commission (among other things) if it is a public U.S. company, which means it trades on a U.S. stock exchange (SEC). The general public and shareholders have access to this information. However, as they do not trade shares on a stock exchange, private businesses are not compelled to disclose their financial information to anyone.
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