What term is used to describe the owners of a corporation?

The term used to describe the owners of a corporation is "shareholders." These individuals or entities hold shares or stock in the corporation, which represents their ownership interest. Shareholders have rights associated with their ownership, such as voting on important corporate matters, including electing the board of directors and approving major corporate changes.

In contrast, the board of directors comprises individuals elected by the shareholders to oversee the management of the corporation, but they do not own the corporation themselves. Partners typically refer to owners in a partnership, which is a different type of business structure where ownership and management duties are shared among partners. Managers are responsible for the day-to-day operations of the corporation and may or may not be shareholders, but they do not represent ownership in the same way that shareholders do. Therefore, the designation of "shareholders" is the accurate term that captures the essence of ownership within a corporate structure.