Generally, a corporation that is selling all of its assets must obtain the approval of the shareholders.

Name: Generally, a corporation that is selling all of its assets must obtain the approval of the shareholders.
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In most jurisdictions, the sale of all or substantially all of a corporation's assets is considered a major decision that requires the approval of the shareholders, often beyond the normal decision-making authority of the corporation's management or board of directors.

Generally, a Corporation That Is Selling All of Its Assets