RSM225H1 Lecture 2: Lecture 2
Document Summary
A partner cannot use partnership property as personal property unless the other partners agree. A partner cannot compete with other partners unless they agree with it. In a partnership, implied terms are shared equally among partners unless stated otherwise. The ideas are probably belong to the partnership. Intellectual property: confidentiality agent, patent: long time and expensive, copyright: protect the way one express the idea. All the assets are shared according to the agreement that was set before. Two types of corporations: for profit corporations, not for profit corporations. An ontario corporation needs to request a license if it wants to establish another corporation in other provinces. The law says that you can always negotiate with the company to use the same name (ask for grant and must get the license) Example: apple registers for the tm, there is already another apple company that sells cellphones, the other apple can still sell cellphones, but cannot span the business (like selling tablets).
