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In general terms, the principals of a corporation are the owners or investors, referred to as shareholders or stockholders. The agents of the corporation are generally considered to be the board of directors, officers or other persons the corporation authorizes to act on its behalf.
Unlike an LLC, a corporation must have bylaws. These bylaws are the primary governing document of the corporation. They usually indicate the number of directors, how the directors are elected, what type of notice is required for meetings, and what type of corporate officers should be appointed. An LLC has no bylaws.