Expelling a Minority Partner from the Business

If there is an agreement or a term in an agreement (such as the shareholders agreement) allowing majority owners of a corporation to force the minority holders to sell at a predetermined price (or a price determined by some other mechanism set forth in the agreement), the majority owners can enforce that agreement.

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The Organizational Structure of a Corporation

Corporations can have many structures, but the most typical corporation organizational structure consists of the board of directors, the officers, employees, and the shareholders or owners. In larger corporations, each of these groups may involve many people.

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The Role of Directors and Officers in a Corporation

Depending on the company, the board of directors and officers can be made up of the same individuals. The board of directors and officers often work together closely, but play very different roles in the corporation. The board of directors is also referred to just directors.

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Legal Requirements for Maintaining Corporate Status

Corporate status, or a corporation business structure, may be the right choice for a business you intend to start, but establishing and maintaining corporate status may involve some careful decision making on your part. If you have already started a business, you may change its legal entity in order to gain corporate status if you wish.

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