Question
Please attempt the below question AristoPleb Ltd is an ASX-listed company that specialises in mobile gaming technology. It was founded in 1996 by Ken Gainsworth
Please attempt the below question
AristoPleb Ltd is an ASX-listed company that specialises in mobile gaming technology. It was founded in 1996 by Ken Gainsworth and is the only Australian company specialising in the mobile gaming industry. Ken Gainsworth is a director in AristoPleb and the inventor of several mobile technology patents that he sold to AristoPleb.
In 2020, Ken Gainsworth decides to set up a new company called Gainsworth Technology Pty Ltd in which he will be both a director and a major shareholder. Ken intends that his new company will specialise in mobile gaming technology and become a possible rival to AristoPleb in the future. Ken has not had time to tell anyone at AristoPleb about his new company, and so the market is unaware of Kens activities. Ken also gifts his technology patents to Gainsworth Pty Ltd.
Has Ken Gainsworth breached his directors duties? Make sure that you use I.R.A.C. structure for your answer.
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