Privately-owned
Describing a business, property, or other asset that is owned and controlled by an individual or a group of individuals, rather than by a government entity or a publicly traded company. It implies that the owners have full decision-making power and profit/loss responsibility. This ownership structure often results in more personalized management styles, greater flexibility in decision-making, and potentially faster adaptation to market changes. privately-owned entities can range in size from small family businesses to large corporations.
Privately-owned meaning with examples
- The charming bed and breakfast was a privately-owned establishment, run by a couple who poured their heart and soul into it. Their hands-on approach ensured a unique experience for every guest, something a corporate hotel chain could rarely offer. They handled all operations from reservations to making breakfast. It was an experience that was intimate and personalized.
- The majority of farmland in this region is privately-owned, enabling farmers to tailor their crops to local demand. These family farms often use sustainable methods handed down through generations, promoting soil health and biodiversity, while contributing to a vibrant local economy. The owners could make instant changes based on how the area performed.
- The vintage car collection showcased at the local museum was part of a privately-owned exhibit, revealing the owner's passion for automotive history. The cars are a personal collection. Unlike public museums that are owned by the state, it offered visitors a curated selection reflecting individual taste. It presented visitors a view into the interests of a collector.
- The research laboratory, despite its groundbreaking work, was a privately-owned entity, allowing it to secure funding from select investors without public oversight. This structure fostered a culture of focused innovation, protecting proprietary discoveries. This helped ensure the companies long term goals were met. Its independence gave it certain advantages.
