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The information on Groklaw is not intended to constitute legal advice. While Mark is a lawyer and he has asked other lawyers and law students to contribute articles, all of these articles are offered to help educate, not to provide specific legal advice. They are not your lawyers.

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So the Lycos Patents are Worthless? | 195 comments | Create New Account

Comments belong to whoever posts them. Please notify us of inappropriate comments.

So the Lycos Patents are Worthless?

Authored by: Wol on Sunday, June 02 2013 @ 04:41 AM EDT

And, under English law, it would be pretty easy to get an order nullifying the
company incorporation!

At which point, limited liability disappears and the directors become personally
liable.

Directors are obliged to act in good faith on behalf of the shareholders. If the
directors (ie the people actively managing the company, not the people nominally
in charge) ARE the shareholders, the veil is very thin. And if the Judge even
suspects that the directors are using the company "as an extension of their
personal will" then consequences are likely to ensue.

There's no real danger, as a director/shareholder, so long as you behave
yourself, the burden of proof is fairly high. But I think here a Judge would
rule they've used a pole-vault to clear a hurdle ... :-)

Cheers,
Wol

[ Reply to This | Parent | # ]

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