How do I form a corporation in New York? "Authorized shares" refers to the number of shares the corporation is allowed to issue under its certificate or articles of incorporation.There is a difference between "authorized" shares and "issued" shares. Authorized capital is the highest valued amount of securities a company can issue to shareholders without violating the law. Yes, you can still be a shareholder of that corporation, if you have good other evidence that shows that you became a shareholder at one point. S corporations can have one class of stock that has voting power and one that doesn't. Find out how to properly set your stock's par value. Calculating financial ratios can help investors understand a company's financial position. Shares represent portions of stock in a corporation. This distinction is what sets a co-op apart from its real estate cousin, the condo.