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No, you dont own the company with 51% of shares. However, you do have a "controlling interest". Basically, If a business decision has to be made and the person making that decison has 49% of the company shares (They own 49% of the business ) and you with your 51% come along, you can over ride that decision being the senior share holder

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Q: If you own 51 percent of a corporation is it mean you own it?
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