Examlex
According to the most well-known theory of team development,which of the following terms describes the first stage?
Close Corporation
A corporation whose shareholders are limited to a small group of persons, often family members.
Shares
Units of ownership in a corporation or financial asset, representing a portion of the company and conferring certain rights and liabilities to the shareholder.
Partnership
A legal arrangement where two or more individuals engage in business together, sharing profits, liabilities, and decision-making.
Close Corporations
Businesses characterized by a small number of shareholders, no public shares, and often more relaxed corporate governance standards.
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