Final answer:
In corporate governance, specific ownership percentages of voting stock classify individuals as partners for decision-making purposes. The actual percentage varies, but owning a substantial portion such as 5%, 10%, or even a majority can confer considerable influence in company affairs.
Step-by-step explanation:
In the context of disciplining a corporation, anyone with a certain percentage or greater share of voting stock is considered a partner. A person who owns 100% of a company's stock owns the entire company by definition. Stock represents ownership in the firm, and it is divided into shares. While corporate giants like IBM, AT&T, and Ford have millions of stock shares, it is rare for an individual to own a majority of the stock shares. Instead, a large number of shareholders may each hold only a small percentage of the company's total equity.
In practice, the specific percentage that defines a 'partner' in terms of stock ownership for the purpose of corporate decision-making can vary based on company bylaws or regulatory definitions. However, a common threshold for significant influence in a publicly-traded company is sometimes considered to be around 5% or more of voting stock. That said, for some purposes, higher thresholds like 10% or even 50% might be used. To change the management of a company such as the Darkroom Window shade Company described, one would need a majority of the shares. If investors 1 and 2 in the example combined their shares, they would have 38,000 shares, which, while a substantial amount, is not a majority and thus cannot ensure full control over company decisions.