Proprietary companies, also known as private companies, are a common form of a business structure adopted by small and medium-sized entities (SMEs) in Australia. What is the meaning of “proprietary”? Blank 1 Question 10[select: , Private, Limited, Small, Ownership]

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BlackTom AI · Accepted Answer

The question asks for the meaning of the term 'proprietary' in the context of proprietary companies in Australia, commonly referred to as private companies.
Since the provided answer is Private, we will reason about what 'proprietary' signifies in this setting. In Australia, a proprietary company is typically denoted by the suffix 'Proprietary Limited' (Pty Ltd), which indicates a privately held company with restrictions on the transfer of shares and limits on who can own shares. This contrasts with public companies, which offer their shares to the general public and have fewer restrictions on share transferability.
The term 'proprietary' thus relates to private ownership and control, emphasizing that the company is not publicly traded and is owned by a relatively small group of shareholders. It conveys the idea of private ownership and internal governance rather than broad public ownership.
If we were to consider typical distractors conceptually: options like 'Limited' alone would refer to a form of corporate structure indicating limited liability but does not specify private versus public ownership. 'Small' would be irrelevant to the legal designation of ownership or corporate form. 'Ownership' by itself does not capture the formal legal meaning conveyed by proprietary status, which includes both private ownership and transfer restrictions within the corporate structure.
Overall, selecting 'Private' aligns with the established interpretation that a proprietary company (Pty Ltd) is a privately held entity with ownership concentrated among a limited group of shareholders rather than the general public.

MCD2150 - T2 - 2025 Week 7 Workshop Quiz

Proprietary companies, also known as private companies, are a common form of a business structure adopted by small and medium-sized entities (SMEs) in Australia. What is the meaning of “proprietary”? Blank 1 Question 10[select: , Private, Limited, Small, Ownership]

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