Final answer:
Voting rights distinguish common stockholders from preferred stockholders; common stockholders can vote on company matters while preferred stockholders cannot, but often receive fixed dividends and have priority in liquidation.
Step-by-step explanation:
Voting rights are the rights held by common stockholders but preferred stockholders do not have these rights. Common stockholders have the ability to vote on certain company decisions and in the election of the board of directors.
Additionally, common stockholders may receive dividends, although these are not guaranteed and can vary based on company performance.
While both common and preferred shareholders are owners of the company and hold shares, preferred stockholders typically have a fixed dividend and priority over common stockholders in case of liquidation, but do not hold voting rights.
Shareholders have the benefit that their liability is limited to the amount they have invested in the corporation, meaning they are not personally responsible for the corporation's debts beyond their investment.