How are closely held corporations different from publicly traded corporations?

Corporations may have one or more shareholders or owners.

The type of corporation determines the number of stockholders, the way stocks are traded, and the requirements stated by the Secretary of State (for each state) and the Internal Revenue Service code.

In your discussion posting, please describe the differences between the two types of corporations.

Your initial post should be at least 300 words with a minimum of two sources cited.