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Legality of a new company when one exist for selling same product
22-Oct-2023 (In Corporate Law)
Can we start a new company with a new board of directors for a trademarked product sold by an existing Pvt. Ltd, company ( functional today and established 12 years), I mean legally without closing and settling all dues of the existing company? The existing company is a JV Consisting of two entities, while the proposed new venture is 100% owned by only one these entities.
The product is now the exclusive property of the old company Unless the same is sold or taken over or merged by the new company, the same cannot be used by the new company as the same can bring in legal action by the other party. Therefore use of the trademark owned by an existing company by a new company is not advisable. You can either take over the old company, or merge the old company with the new one or buy the trade mark and product from that old company in the name of the new company and use the same.
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Adv. Murugan E.M.
Ernakulam | 25+ Answers
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