Quorum(redirected from quorums)
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The minimum number of people who must be present or must provide a proxy to vote at a meeting in order to make a valid decision.
The minimum number of shareholders or board members that must be present at a meeting in order to make binding decisions for a company. Especially in the case of shareholders, the quorum may not be a number of persons, but a percentage of equity in the company represented by the owners who are present. The quorum is defined in the corporate charter. See also: Annual shareholders meeting.