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Please attempt the below question Gainsworth Ltd is an ASX-listed company that specialises in video gaming technology. It was founded in 1999 by John Aristos
Please attempt the below question Gainsworth Ltd is an ASX-listed company that specialises in video gaming technology. It was founded in 1999 by John Aristos and is the only Australian company specialising in the video game industry. John Aristos is a director in Gainsworth and the inventor of several video game related patents that he sold to Gainsworth. In 2021, John Aristos decides to set up a new company called Aristos Technology Ltd in which he will be both a director and a major shareholder. John intends that his new company will specialise in video games for mobile devices (e.g. phones) and that his new company will rival Gainsworth in the future. John has not had time to tell anyone at Gainsworth about his new company (Aristos Technology Ltd), and so the market is unaware of John's activities. John also gifts his technology patents to Aristos Technology Ltd without the approval/knowledge of Gainsworth Ltd. Question: Has John Aristos breached his directors duties? If so, what consequences are likely to apply for breach of his directors duties? Make sure that you use I.R.A.C. structure for your answer and refer to any relevant sections from the Corporations Act 2001 (Cth) and case law
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