> what is the underlying legal idea, that makes this supposedly "fair deal"? If you don't trust the board to do right by you, you are free to (and should) sell

> what is the underlying legal idea, that makes this supposedly "fair deal"? If you don't trust the board to do right by you, you are free to (and should) sell your shares. > if you make me to sell my property ... zwily explained above ( https://news.ycombinator.com/item?id=31162992 https://news.ycombinator.com/item?id=31162992 ) shares are not your property. > US equities, corporate and municipal bonds can be issued in certificated form, though this practice has been largely replaced due to the costs and inefficiencies of keeping them. Rather holdings are kept as "immobilized" or "street name", with the beneficial owners keeping them in accounts at broker-dealers and banks, just as they do for currencies. DTCC uses a nominee firm, Cede & Co., in whose name a share certificate is held in the DTCC vaults. Each day DTCC reconciles with the relevant transfer agent the number of shares held in its accounts for its member banks and broker-dealers. In turn, other banks and broker-dealers hold accounts with DTCC member firms, creating a chain of ownership down to the beneficial owner. https://en.wikipedia.org/wiki/Securities_market_participants_(United_States)#Central_securities_depository https://en.wikipedia.org/wiki/Securities_market_participants...