The owners of a corporation are called shareholders. Shareholders own the corporation in proportion to their ownership of corporate stock. Shareholders may elect a board of directors, who manage the corporation. The shareholders participate in the corporation’s annual shareholders’ meeting to elect the board of directors or vote on major corporate actions like mergers.
In a corporation, shareholders have limited liability for the corporation’s debts. Only the corporation’s assets are liable for repayment of debts.
Shareholders’ liability for debts is limited. Only corporate assets repay debts, not shareholders’ personal assets.
What do you call the owner of a corporation?
What are members of an INC called?