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What is the difference between publicly-held corporations

Could you provide simple answers to these four questions? Not a paper, just short answers?

What is the difference between publicly-held corporations and privately-held corporations?
Who elects the members of the board of directors in a privately-held corporation?
How does the election of board members in a privately-held differ from a publicly-held corporation?
What are the drawbacks of corporate form of organization?

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Business Management: What is the difference between publicly-held corporations

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