Shareholders are not personally liable for corporate acts. unchecked the sale of shares from one stockholder to another does not impact operations. an exception is when it changes the makeup of directors. unchecked it has many of the same rights as an individual. checked it does not end with the death of an owner. checked corporations are often subject to fewer regulations than partnerships. unchecked stockholders are expected to hire and fire key executives. unchecked the president and vice presidents choose the board of directors