What is the term for a company whose shares are publicly traded?

A company whose shares are publicly traded is called a public company. Its shares may be bought and sold by members of the public, usually through a stock exchange or an over-the-counter market.

Public companies typically raise capital by selling shares, including through an initial public offering, or IPO. In exchange for access to public investors, they face extensive disclosure and reporting obligations. In the United States, companies registered with the Securities and Exchange Commission generally file periodic reports such as Forms 10-K and 10-Q.

“Public” does not always mean government-owned. In this context, it describes ownership and securities trading, not state control. A public company may be listed on a major exchange, but a public company can also be unlisted in some legal systems.

The main contrast is a private company, whose shares are not offered for public trading. A subsidiary is simply a company controlled by another company, and a close corporation usually has restricted ownership; neither term answers the question.