A legal trust created to combine the voting power of shareholders. With the establishment of the voting trust, the shareholders' legal title and voting rights are transferred to a designated trustee for a set duration.
Taobiz explains Voting Trust
There are many reasons stockholders may wish to form these trusts. For example, they may create one in the hopes of maintaining control within a corporation through a unified vote. Or they may want to use it as a form of protection from corporate creditors. The laws of different states usually have limitations on the duration of a trust, as it is a legally binding agreement.
