Trudy and Aline have incorporated a corporation to carry on an antique shop business.They each hold 20 percent of the common shares.Aline's aunt, Louise, holds the remaining 60 percent of the common shares.Trudy and Aline will share responsibility for carrying on the business on a daily basis.Louise has no interest in participating in the business.She invested to help out her niece, to get a nice return when she sells her shares and would like to have a veto right over any substantial changes to the corporation.How would the parties set up their desired allocation of power and responsibilities?

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The Answer of Trudy and Aline have incorporated a corporation to carry on an antique shop business.They each hold 20 percent of the common shares.Aline's aunt, Louise, holds the remaining 60 percent of the common shares.Trudy and Aline will share responsibility for carrying on the business on a daily basis.Louise has no interest in participating in the business.She invested to help out her niece, to get a nice return when she sells her shares and would like to have a veto right over any substantial changes to the corporation.How would the parties set up their desired allocation of power and responsibilities?

Trudy and Aline Have Incorporated a Corporation to Carry on an Antique