Final answer:
An individual who can influence management decisions in a corporation is known as an affiliated person. This term applies to those with significant relationships to the corporation, like major shareholders or directors, who may influence its policies and decisions.
Step-by-step explanation:
In the context of a corporation, a control person or other individual who can influence management decisions of the corporation is referred to as an affiliated person. This term is often used in corporate governance to refer to individuals who have a significant relationship with the corporation, which may include major shareholders, directors, or high-level executives. These individuals might not manage the day-to-day operations but do have significant influence over company policies and decisions due to their status or share ownership.
For example, in a public company, which is a firm that decides to sell stock that financial investors can buy and sell, it's owned by its shareholders who then elect a board of directors to appoint the top management. Therefore, corporate governance structures are established as mechanisms to monitor and control the actions and decisions of these management leaders to ensure they align with the shareholders' interests.