can someone take your company (business) away from you?

Watch
curiousperson123
Badges: 20
Rep:
?
#1
Report Thread starter 4 weeks ago
#1
Is it possible to take away a company from its CEO or whoever owns the company? Can someone see you as unfit to lead a company and take it away from you without your consent or against your will...
I'm talking legally, let's not get anything illegal like the mafia involved.
0
reply
Surnia
Badges: 19
Rep:
?
#2
Report 4 weeks ago
#2
Voted out by shareholders?
0
reply
curiousperson123
Badges: 20
Rep:
?
#3
Report Thread starter 4 weeks ago
#3
(Original post by Surnia)
Voted out by shareholders?
Ohhh yh true I guess shareholders can vote you out! Thanks! x
Last edited by curiousperson123; 4 weeks ago
0
reply
IWMTom
Badges: 20
Rep:
?
#4
Report 4 weeks ago
#4
(Original post by curiousperson123)
Is it possible to take away a company from its CEO or whoever owns the company? Can someone see you as unfit to lead a company and take it away from you without your consent or against your will...
I'm talking legally, let's not get anything illegal like the mafia involved.
You need a fundamental understanding of how businesses are setup to understand why your question is a bit confusing.

The CEO (although that's more an American term) is just an employee of the company. They may or may not have a majority shareholding. If they don't, they can be removed... but they still own their shares..
Last edited by IWMTom; 4 weeks ago
1
reply
IanDangerously
Badges: 20
Rep:
?
#5
Report 4 weeks ago
#5
(Original post by curiousperson123)
Is it possible to take away a company from its CEO or whoever owns the company? Can someone see you as unfit to lead a company and take it away from you without your consent or against your will...
I'm talking legally, let's not get anything illegal like the mafia involved.

Yes, a senior officer can be removed from office as already stated. Even in a family business the owner can be removed from any day to day control of the business by their family if they are legally unable to fulfill their duties.

A principal owner of sound mind can also have their business dissolved by a court to pay off creditors in the event that it goes bankrupt. If a business seriously breaches the law it can be banned from trading which essentially makes it useless and would force the owner to sell the assets.

Basically loads of things can happen
0
reply
Scottishlad888
Badges: 19
Rep:
?
#6
Report 4 weeks ago
#6
Your Company can and will be struck of if its found out that you are not paying the proper tax and vat and are stealing from the company HMCR will close you down for at least 7 years and can stop you been a Company Director for up to life
0
reply
artlessglide
Badges: 4
Rep:
?
#7
Report 4 weeks ago
#7
(Original post by curiousperson123)
Is it possible to take away a company from its CEO or whoever owns the company? Can someone see you as unfit to lead a company and take it away from you without your consent or against your will...
I'm talking legally, let's not get anything illegal like the mafia involved.
That is possible esp when they are powerful and if you just simply allow them to.
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Back
to top
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

Current uni students - are you thinking of dropping out of university?

Yes, I'm seriously considering dropping out (185)
14.08%
I'm not sure (59)
4.49%
No, I'm going to stick it out for now (387)
29.45%
I have already dropped out (37)
2.82%
I'm not a current university student (646)
49.16%

Watched Threads

View All