Examlex
Board of Directors
A group of individuals elected by shareholders to oversee and make strategic decisions for a company.
Shareholders
Owners of shares in a corporation, holding a portion of the business's stock, and therefore having rights to dividends and a say in company matters.
Corporation
A legal entity recognized by law as separate from its owners, with its own rights, privileges, and liabilities.
S Corporation Election
A tax status election made by a corporation with the Internal Revenue Service to be taxed as a pass-through entity, avoiding double taxation on corporate income.
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