This office lease clause states that the tenant shall not make any alterations or other physical changes in or about the Demised Premises without the owner's prior consent in each instance.
Illinois Alterations Clauses Oppressive Approach
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Typically, the minority shareholder has less than 50% of the corporation's voting shares. While many minority shareholders have some say over the company's affairs, the majority shareholder will typically have the most control over the corporation.
Without any control or bargaining power, minority shareholders usually must redress their oppression in court. Minority shareholders typically seek to divest their shares and recoup their investment, often by seeking equitable remedies such as either: Dissolution. A buyout of their shares.
What Is A Minority Shareholder? A minority shareholder is an individual or entity that owns a minority stake in a company, which means they possess less than 51% of public or private company shares. The purpose of these shareholders is to provide capital to a company in exchange for a portion of ownership.
Fiduciary Duties of Minority Shareholders They have less control over the corporation's operations and policies, but they still have a voice in certain decisions. In general, minority shareholders owe no duty to the corporation or the majority shareholder when making their decisions.
In company law, a minority shareholder has little if any power over the management of the company or the distribution of its profits.As a general principle, the majority rules. For instance, shareholders with less than 50% of the shares in the company cannot appoint a new director.
They must act in good faith, with the best interests of the corporation and its shareholders in mind, and must disclose any potential conflicts of interest. If a conflict of interest arises, they must recuse themselves from any decision-making process that would be affected by the conflict.
These rights include: the right to vote, the right to attend meetings, and the right to have access to certain information. The articles of the company, and by-laws if any, can contain additional rights and obligations for shareholders of that particular company.