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What is Understanding Company Promoters and Duties about?
A promoter is defined as a person who undertakes the formation of a company, responsible for various tasks such as signing contracts and arranging capital. Promoters have specific duties, including full disclosure of profits and avoiding conflicts of interest, and they can be held liable for breaches of these duties. Pre-incorporation contracts made by promoters are generally not binding on the company until ratified after its formation, and the incorporation process involves reserving a company name and su
- Author
- bagalatreasure
- Language
- EN