| A | B |
|---|
| board of directors | Governing body of a corporation elected by the shareholders. |
| dormant partner | Either known or unknown partner who takes no active part in the business. |
| fiduciary | A person or institution who manages money or property of another and who must exercise a standard of care imposed by law. |
| insider | With respect to federal regulation of purchase and sale of securities, refers to anyone who has knowledge of facts not available to the general public. |
| nominal partner | One whose name appears in connection with the business as a member of the firm but who has no real interest in the business. |
| officer | A person selected by the board of directors such as the president, vice-president, treasurer, or secretary, whose main duties are to oversee the efficient operation of the business. |
| shareholder | A person or entity who owns shares in a corporation and therefore indirectly owns the corporation. |
| registered agent | The person (or a business) designated to receive service of process when a corporation or LLC is a party in a legal action such as a lawsuit or summons. |
