To de Tocqueville, that is a burden of democracy. Limitless influence is dangerous because utter control is the origin of oppression. If a people are mistreated, the only place to turn is the majority.
These foibles of democratic institutions are no less so in corporate governance. Here, we critically analyze the following statement: If the majority are abusing their powers and are depriving the minority of their rights, the minority is entitled to maintain their rights.2 MacDougall v Gardiner clarified the principles of majority rule. If the grievance of a minority is about something to which the majority of the company has privilege or has done unevenly a meeting may be called, and the majority ultimately gets what it wants. Over the years, the principle of majority rule has become more inclusive, however. We recount some of the more representative policies to make our assessment of the historic nature of the question at hand.
A place to start is the generally accepted structure of corporate membership. ...Show more