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What is the organizational structure of the corporation? Who runs the corporation?
The key players in a corporation are: (1) the shareholders, (2) the directors, (3) the officers, and (4) the employees. There is no limit -- your corporation can have as many as are desirable or expedient to do business. One individual can simultaneously be the sole shareholder, the director, the officer, and the employee.
It’s the shareholders who own the corporation. That ownership may be 100% in the hands of one individual or spread among tens of thousands or millions. Though shareholders as such may not participate in day-to-day management or have a direct say in decision-making, major shareholders nonetheless carry great weight in influencing corporate decisions because they routinely vote on:
election and removal of directors,
amending the by-laws,
major corporate changes (mergers, sales, dissolution),
disposition of corporate assets,
amendment of the articles of incorporation.
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