Closely-held vs Publicly-held Business

What is the primary difference between a privately held business and a publicly held business?

What are some of the registration requirements that privately held businesses may not have to fulfill?

How does the ownership structure of a closely held business differ from that of a privately held business?

In what ways can state laws affect the maintenance requirements of closely held corporations?

Explain the concept of over-the-counter trades in relation to publicly held entities.