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Right of one partner to issue license without consent of other partner
01-Sep-2023 (In Corporate Law)
Hi, There are two directors in a company, A (Founder, with 59% share and board member) B (with 41% share and board member and also the chairman) Can the director A, assign a license of the company's product to a new company without B's permission. What are the other powers director A has over B as a majority?
Whatever may be the decision of the company, it should be resolved in a board meeting with unanimous consent of directors.
If the resolution is required to be resolved by the shareholders. Then and Extra Ordinary General meeting shall be conducted.
Director A alone cannot assign a licence without the permission of remaining directors.
If the resolution is required to be resolved by the shareholders. Then and Extra Ordinary General meeting shall be conducted.
Director A alone cannot assign a licence without the permission of remaining directors.
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Adv. Zeenal Thakkar
Pune | 25+ Answers
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