In 2005, the Base Realignment and Closure. Commission (BRAC) mandated consolidation of these. 2 institutions into a new Walter Reed National Military. Medical Center that would be constructed onthe grounds. of the National Naval Medical Center in Bethesda, Maryland.' This new medical facility is intended to pro-.
proprietary companynoun [ C ] uk â us â. âº a company that owns enough shares of another company to control it: Mutuals delivered better returns than proprietary companies. âº LAW in Australia, New Zealand, and South Africa, a type of limited company (= one whose owners only have to pay part of the money they owe if it fails).
A limited company has special status in the eyes of the law. These types of company are incorporated, which means they have their own legal identity and can sue or own assets in their own right.The ownership of a limited company is divided up into equal parts called shares. limited company has special status in the eyes of the law. These types of company are incorporated, which means they have their own legal identity and can sue or own assets in their own right.