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In general terms, the principals of a corporation are the owners or investors, referred to as shareholders or stockholders. The agents of the corporation are generally considered to be the board of directors, officers or other persons the corporation authorizes to act on its behalf.
Answer A corporation lives only through the actions of its board of directors, making votes or resolutions to empower the officers and other employees to car â¦ ry out the business. The board resolution is the documentation that proves the corporation is being run according to the laws, the charter and the bylaws, and within the bounds of ordinary competence of the board members.