Private companies are businesses owned by individuals or groups, rather than by the government or the public. They do not sell shares to the general public on stock exchanges, which means their ownership is typically limited to a small number of investors. This structure allows private companies to operate with more flexibility and less regulatory scrutiny compared to public companies. These companies can vary in size and industry, ranging from small family-owned businesses to large corporations. Examples of private companies include Cargill, a major agricultural company, and Koch Industries, a large conglomerate involved in various sectors. Private companies often focus on long-term goals without the pressure of quarterly earnings reports.