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The solution begins when you do your due diligence | 457 comments | Create New Account
Comments belong to whoever posts them. Please notify us of inappropriate comments.
The solution begins when you do your due diligence
Authored by: Anonymous on Friday, June 07 2013 @ 11:22 AM EDT
"You have done all this without reading a single patent because patents are
too cryptic for mouse trappers to understand."

Deeds are pretty cryptic too. That doesn't give you the right to move into your
neighbors house or plant crops on her land.

[ Reply to This | Parent | # ]

The problems start when your mousetrap business starts earning money
Authored by: Wol on Friday, June 07 2013 @ 03:51 PM EDT
I keep on saying you need the UK system. If the intent of incorporation is to
enable the directors to avoid personal liability (and the formation of a shell
company is a pretty blatant example) then the incorporation is void.

If I create a company, and as a director I tell it to do something which creates
a large potential liability that it has no assets to cover or reasonable
expection to pay, the Judge will tell me that the incorporation was fraudulent.
At which point I personally go bust ... (of course, if the liability never
actually arises I get away with it, but if my actions are dubious it gives my
victims every incentive to fight... which is why it just doesn't happen.)

Cheers,
Wol

[ Reply to This | Parent | # ]

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