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Board of Directors
A board of directors is a group of individuals elected to represent shareholders and oversee major decisions of an organization, guiding its strategic direction and ensuring corporate governance.
Shareholders
Individuals or entities that own shares in a corporation, giving them certain rights and interests in the corporation's operations and profits.
Derivative Suit
A suit to enforce a corporate right of action brought on behalf of a corporation by one or more of its shareholders. Also called derivative action.
Corporation
A legal entity that is separate from its owners, providing limited liability protection, with the capability to own assets, incur liabilities, and enter into contracts.
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