the person who owns a corporation is a
A corporation is formed under the laws of the state where its articles of incorporation are filed. State corporation laws determine who owns a corporation.In all states, the ownership of a corporate entity is vested in shares of stock. The number of shares a corporation initially authorizes is detailed in the articles of incorporation.hareholders are the legal owners of a corporation, but that does not give them the right to be involved in the day-to-day management of the company. Shareholders have the right to vote for members of the board of directors. The board runs the company for the benefit of shareholders.