who are the owners of a corporation and how is their ownership represented
Where local law distinguishes corporations by ability to issue stock, corporations allowed to do so are referred to as "stock corporations", ownership of the corporation is through stock, and owners of stock are referred to as "stockholders" or "shareholders". Corporations not allowed to issue stock are referred to as "non-stock" corporations; those who are considered the owners of the corporation are those who have obtained membership in the corporation, and are referred to as a "member" of the corporation.