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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.
principle noun (IDEA) C1 [ C ] a basic idea or rule that explains or controls how something happens or works: the principles of the criminal justice system. The country is run on socialist principles. The machine works according to the principle of electromagnetic conduction.