What does it mean to have 'control' of a corporation?

Having 'control' of a corporation typically refers to the ability to influence or dictate the direction and decisions of the company, which is most commonly achieved through ownership of a significant percentage of voting securities. This significant ownership allows an individual or entity to have a commanding presence in shareholder meetings, impacting key decisions such as electing the board of directors, approving major corporate transactions, and influencing company policy.

Incorporating this perspective, owning a substantial portion of voting shares gives the shareholder the practical ability to make decisive choices regarding the company's operations and strategy. This level of ownership typically represents not just a financial stake but also the authority and responsibility associated with guiding the corporation's future.

Minor influence in decisions, being a minority shareholder, or simply participating without a significant ownership stake does not equate to having control. Those roles may allow for some input but lack the power to enforce changes or exert substantial influence over corporate actions. Thus, it is specifically the ownership of a significant percentage of voting securities that aligns with the concept of control over a corporation.