Definition of a Director under the Companies Act The Companies Act, 2013, defines a director as a person who is appointed to be a part of the Board of the Company.
The Act specifies that a dormant company is one that: Has no significant business operations or accounting transaction Is formed to hold an asset or intellectual property Is formed for a future project Benefits of a Dormant Status The first question that most people ask is that – Why incorporate a company only to get a dormant status for it?
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.
These objectives are said to be the guidelines of the company’s activities and purpose of existence and are usually defined during the incorporation of a company.