/ˈpraɪvət trʌst/ – Phrase
Definition: sở hữu tín thác được thiết lập vì ích lợi của tư nhân.
A more thorough explanation: A private trust is a legal arrangement in which a person (the settlor) transfers assets to a trustee to hold and manage for the benefit of specific individuals or purposes (the beneficiaries), as outlined in the trust deed. The terms of the trust are private and not disclosed to the public, hence the term “private trust.”
Example: The private trust was established to manage the assets for the benefit of the beneficiaries named in the trust document.