Board of Directors: The Board is constituted by different individuals, elected by the owners of the company (shareholders) to manage the company’s day-to-day affairs and run the company.
Here are a few benefits of getting the dormant status: Retaining Company Name: The unique name of the company can be retained, along with other intellectual property assets that the company holds such as trademarks.
Logo in a company is used as banners on visiting cards, I-Cards or any other marketing platform which will help target the audience and get familiar among that target audience as a product or service provider.
Example: Recent patent application for a sexual toy by a Canadian company 'Standard Innovation Corporation' was rejected by the Indian Patent Office on the grounds of morality stating that the claimed subject matter relates to sexual stimulation and hence is against the public order.
Features of a Joint Stock Company Under the Companies Act, a joint stock company has certain merits and provisions that it can enjoy, such as separate legal entity and perpetual succession.