Public Corporations

• In a public corporation, shares of stock trade on a public stock exchange. The U.S. Securities and Exchange Commission requires public corporations to file corporate bylaws in the public record.
  
  

Private Corporations

• Private individuals and companies own shares of stock in a private corporation, but the stock does not trade on a public stock exchange. The law does not require the filing of private corporate bylaws in the public record.
  
  

Publication Of Bylaws

• Privately owned corporate bylaws become part of the public record in several ways. An owner of the company voluntarily discloses the bylaws. A court-issued subpoena in litigation compels public disclosure of bylaws. SEC filing regulations require private company bylaws to be in the public record if a public corporation acquires or sells the private company.