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50% shareholder and Director, can IP be transferred?

  • 06-11-2016 2:22am
    #1
    Kermit.de.frog
    Registered Users, Registered Users 2 Posts: 24,421 ✭✭✭✭


    What happens if a 50% shareholder and sole Director of a company wants to transfer IP from the company to a new company? The other shareholder owns 50% but is not a Director and could be termed a "bad leaver" i.e holding on to shareholding threat to cripple company. Can it be done by the 50% shareholder that is the only Director?


Comments

  • #2
    nuac
    Registered Users, Registered Users 2 Posts: 6,769 ✭✭✭nuac


    suggest you consult the shareholders' agreement


  • #3
    Marcusm
    Registered Users, Registered Users 2 Posts: 10,633 ✭✭✭✭Marcusm


    Transferred at full value or transferred at value which denuded the value of the shareholders? All sorts of legal issues at point here and mere contractual capacity to effect a transfer is likely the least of them.


  • #4
    Mr. Incognito
    Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭Mr. Incognito


    Kermit.de.frog wrote: »
    What happens if a 50% shareholder and sole Director of a company wants to transfer IP from the company to a new company? The other shareholder owns 50% but is not a Director and could be termed a "bad leaver" i.e holding on to shareholding threat to cripple company. Can it be done by the 50% shareholder that is the only Director?

    Can it be done- Yes.

    Is it legal.

    Probably not

    Consult a solicitor.


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