Question
RXZ Sdn. Bhd. is a renowned company that manufactures medicines and vaccines. The directors of the company are John, Snow and Wick. In order to
RXZ Sdn. Bhd. is a renowned company that manufactures medicines and vaccines. The directors of the company are John, Snow and Wick.
In order to produce invention and innovation products, RXZ Sdn. Bhd. had spent most of its capital on research and development. Finally, the company made a breakthrough, where it had successfully produced a vaccine that could increase the immune system in the human body to counter fatal viruses, including the novel coronavirus disease (COVID-19). The company had named the vaccine as 'RXZ2T'.
Before the company makes proper registration of the patent, Wick had leaked the information regarding the creation and production of 'RXZ-2T' vaccine to LC Sdn. Bhd. Wick also had secretly taken some of the equipment owned by RXZ Sdn. Bhd. and gave them to LC Sdn. Bhd. With the information and equipment provided by Wick, LC Sdn. Bhd. managed to produce 'LC-4T' vaccine, which had similar characteristics to 'RXZ-2T'. LC Sdn. Bhd. had also given the commission of RM50,000 to Wick for his effort in supplying the valuable information and equipment.
Advice John and Snow whether Wick had breached any director's duties to RXZ Sdn. Bhd.
Required: Briefly explain the answer and SUPPORT THE ANSWERS WITH RELEVANT SECTIONS AND CASE OF MALAYSIAN LAWS .
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