Final answer:
Minority shareholders can seek a judicial dissolution of a corporation under specific circumstances as outlined in the corporation statute or shareholder agreement of the state or country where the corporation is incorporated. They usually need to petition a court, and the process can be complex, potentially requiring the assistance of a corporate lawyer.
Step-by-step explanation:
The question of who determines whether minority shareholders can dissolve a corporation is typically addressed in the law of the jurisdiction in which the corporation is incorporated. Under certain circumstances, minority shareholders may petition the court for the dissolution of the corporation if they believe their rights are being abused or ignored, or if the corporation's actions are unfairly prejudicial to their interests. This is known as a judicial dissolution.
In most cases, the state's corporation statute will have provisions that allow a certain percentage of shareholders to bring a lawsuit for dissolution. It is important for minority shareholders to understand the company’s shareholder agreement and the relevant laws, as these will often define the circumstances under which dissolution might be an option, as well as the required process to initiate such action.
It is worth noting that the dissolution process can be complex and may require the representation of a corporate lawyer who specializes in the field. Additionally, the standards and procedures for dissolving a corporation vary considerably depending on the legislation of the particular state or country.