Answer: Does not have a liquid secondary market for its shares.

**Explanation:** - **Option A (Incorrect):** Private companies typically incur lower regulatory costs compared to public companies. By going private, a company can reduce expenses associated with regulatory compliance and stock exchange requirements. - **Option B (Incorrect):** Private companies often focus on long-term value creation rather than short-term results. Private equity investors can address operational issues and manage the company for sustained growth. - **Option C (Correct):** Unlike public companies, private companies lack an active secondary market for their equity. Trading shares of a private company requires direct negotiations between investors, whereas public company shares are traded in liquid secondary markets.

Author: LeetQuiz Editorial Team