lecture 11 - OneNote Online Lecture#11‐ Shareholders...

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Unformatted text preview: 4/15/2016 OneNote Online Lecture #11‐ Shareholders rights Wednesday, March 30, 2016 4:57 PM Shareholder Rights Right to vote Fundamental changes When Fundamental changes in the corpora〼੭on occur, every shareholder will get a right to vote regardless of what class of shares they hold 2/3 majority of that shareholder class Right to informa〼੭on Ar〼੭cles, bylaws, share register Minutes of shareholder mee〼੭ngs No minutes of director mee〼੭ngs because shareholders do not own fiduciary duty to the corpora〼੭on. Shareholders could poten〼੭ally abuse that secret informa〼੭on especially compe〼੭tors since anyone could own shares of a corpora〼੭on Pre‐emp〼੭ve rights Make notes on this Shareholders get appoint the auditor, waive audit and appoint accountants Annual General Mee〼੭ng( AGM) 1. Directors Mee〼੭ng They approve the Financial Statements 2. Shareholder Mee〼੭ng Receive the Financial Statements Elect Directors Appoint the auditors or waive and appoint accountants 3. Directors mee〼੭ng Appoint officers Shareholder Agreements Unanimous shareholder agreements: An agreement between everyone signs the agreement Basically a partnership agreement but in a corpora΄on The shareholders can take the power from the directors and take the responsibili〼੭es of the directors Take more notes on this Right of first refusal Drag along Tag‐along Buy/sell( "Shotgun") Intellectual Property https://brocku­my.sharepoint.com/personal/jb14go_brocku_ca/_layouts/15/WopiFrame.aspx?sourcedoc={14FED323­8280­4DC8­BA05­ED120414BDAE}&file=… 1/2 4/15/2016 OneNote Online Trademarks You don't have to legally create a trademark for your trademark to be considered a trademark by the courts You just create it because it creates good evidence for that trademark to be en〼੭tled for that person/ company. You get exclusive rights to use the product, make money with it, etc. Copyright Created automa〼੭cally upon crea〼੭on of a product It has to exist in a tangible expression of an idea. Has to be original You can license to other people to give them rights to sell a product Excep〼੭on‐ Moral rights Copyright rights last up to un〼੭l the person dies plus 50 years. But there is copyright in the presenta〼੭on Patents Person under a patent gets an exclusive right to produce a good 20 year protec〼੭on Person has to make an applica〼੭on to get the patent but that person will have to publish all of ideas of the product to the public Industrial Design https://brocku­my.sharepoint.com/personal/jb14go_brocku_ca/_layouts/15/WopiFrame.aspx?sourcedoc={14FED323­8280­4DC8­BA05­ED120414BDAE}&file=… 2/2 ...
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