Common shareholders are individuals or entities that own shares of a company's common stock, granting them ownership rights and a claim on a portion of the company's assets and earnings. They typically have voting rights in corporate decisions, such as electing the board of directors, which allows them to influence the company's direction. Unlike preferred shareholders, common shareholders are last in line to receive dividends and assets in the event of liquidation. However, they benefit from potential capital appreciation as the company's value increases, making them a vital part of the equity market and a key driver of corporate growth.