You could argue that but a couple of seconds googling around would show you the term is not used to describe, say, financial transparency, especially not in a privately held startup. It's almost always used in the context of customer relations. Here's one of the top hits -<p><a href="http://www.fastcompany.com/blog/heath-row/business-transparency" rel="nofollow">http://www.fastcompany.com/blog/heath-row/business-transpare...</a><p>A person from a start-up (Six Apart), a person from a large corporation (Microsoft) and an interviewer from a well-established business magazine (Fast Company) briefly discuss transparency. The focus is on customer relations.