Five friends decide to form a corporation together. They wish to participate in corporate management. What must they do to participate?

Question

Quizplus · Accepted Answer

In a corporation, shareholders typically do not participate directly in day-to-day management, which is the role of the board of directors and officers. However, if the friends wish to be involved in management, they can specify their roles and involvement in the corporate bylaws, a document that outlines the corporation's rules and procedures. This allows them to define their management structure in a way that includes them in management roles.

Five Friends Decide to Form a Corporation Together