A privately held company or close corporation is a business company owned either by non-governmental organizations or by a relatively small number of shareholders or company members which does not offer or trade its company stock (shares) to the general public on the stock market exchanges, but rather the company's stock is offered, owned and traded or exchanged privately. Less ambiguous terms for a privately held company are unquoted company and unlisted company.

Though less visible than their publicly traded counterparts, private companies have a major importance in the world's economy. In 2008, the 441 largest private companies in the United States accounted for $1.8 trillion in revenues and employed 6.2 million people, according to Forbes. In 2005, using a substantially smaller pool size (22.7%) for comparison, the 339 companies on Forbes' survey of closely held U.S. businesses sold a trillion dollars' worth of goods and services (44%) and employed 4 million people. In 2004, the Forbes' count of privately held U.S. businesses with at least $1 billion in revenue was 305.

The Comic Strip is a group of British comedians, who came to prominence in the 1980s. They are known for their television series The Comic Strip Presents... which was labelled as an example of alternative comedy. The core members are Adrian Edmondson, Dawn French, Rik Mayall, Nigel Planer, Peter Richardson, Jennifer Saunders and Alexei Sayle with frequent appearances by Keith Allen, Robbie Coltrane and others.

Two double acts, Adrian Edmondson and Rik Mayall under the name "20th Century Coyote" and Nigel Planer and Peter Richardson ("The Outer Limits"), started performing at the newly opened Comedy Store in London in mid 1980, alongside compere Alexei Sayle who had been resident there since the Comedy Store opened in 1979. Concurrently Richardson searched for a venue to mount a play he had produced with Michael White. He planned to run The Comic Strip late at night after the play's performances. He sourced the Raymond Revue Bar in Soho, but realising it was unsuitable for a theatrical production and running out of enthusiasm for the play he decided to continue with the idea of a cabaret night. He persuaded the double acts and Sayle to move from the Comedy Store along with Arnold Brown, an older standup comic who did not fit so obviously into the alternative comedy scene. Sayle again resumed his compere duties and decided running order, with Richardson having behind the scenes control. Richardson put out an advert for female performers which was answered by French and Saunders.