What does ownership refer to, Other Subject

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What does ownership refer to

Problem:

In the expression, "separation of ownership and control", what does "ownership" refer to? What does "control" refer to? In what kind of business are these separated, and in what kind of business are they not separated? What are the advantages of the kind of business structure with a separation of ownership and control? According to agency theory, why the separation of ownership and control potentially a problem?

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