OrdinarilyAliveHuman OP t1_iybzmf2 wrote on November 30, 2022 at 6:57 AM

Reply to comment by WeDriftEternal in ELI5: If a company is public and a person owns 75% of the shares, can they be kicked out/fired by other board members? by OrdinarilyAliveHuman

Ah, so is that some legal process or does it happen within the company internally? There would have to be some independent arbiter, right? Otherwise they could just make something up to kick you out if they so choose to.

WeDriftEternal t1_iybzv5i wrote on November 30, 2022 at 7:00 AM

Companies lay out their rules in a document that says "these are the rules". Its generally pretty standard corporate stuff, of course, these rules can also be changed, especially by the person with the most votes... There isn't some independent authority, the company is in control of its owners, outside of any govt regulatory body rules to be followed.

By legal process, I mean, if you're doing illegal stuff you may be able to be kicked out, its all a case by case basis.