Minority shareholders are individuals or entities that own less than 50% of a company's shares. They do not have enough voting power to control company decisions but still have a financial interest in the company's performance. Their rights and protections are often outlined in corporate laws and the company's bylaws. These shareholders can influence company policies through their votes on important matters, such as mergers or board elections, but their impact is limited compared to majority shareholders. Minority shareholders may also seek to protect their interests through legal avenues if they believe their rights are being violated by the company's management or majority shareholders.