BUS205-Company and Tort Law
As a group, you have decided to earn some extra income by selling your used textbooks and self-developed study notes and providing some form of synchronous and asynchronous online tuition and advisory services to other undergraduates.
However, there is no firm plan yet to offer these on a regular basis. As one of your group members said, it really depends on the demand and whether each of you have enough time to do this regularly. Some of your group members pointed to Carousell and other online platforms where used course materials are sold on an ad-hoc basis, and the small amount of income earned.
At the same time, your group is excited about growing this source of income on a more sustainable basis and agreed that it is important to set up a network and collaborate with other students and the alumni, to expand your portfolio of course materials for sale and tutors for such services. Those who join your network will be earning a commission or fees for providing materials and services.
(a) State whether the scenario above constitutes a “business” and the importance of determining whether it constitutes a “business”. In your answer, you should list some of the key factors that are relevant to the definition of “business”. Support your answers with reasons and examples.
(b) Assume that your group agrees that the scenario above constitutes a “business”. Identify an appropriate form of business organisation. Support your answer with reasons and details, taking into account the advantages and disadvantages (and the key characteristics) of your choice of business organisation.
(c) Assume that your group decides to set up a private limited company in Singapore and all group members agree to become directors of the company. Describe three (3) detailed scenarios in which one or more directors may breach their duties under common law and/or the Companies Act, Cap. 50 of Singapore in relation to the scenario contemplated above. In your answer, you should explain why the details of the scenarios result in a breach of directors’ duties, with reference to the relevant statutory provisions and/or case law
(a) Based on the scenario given above, discuss two (2) key forms of intellectual property assets for the business. In your answer, you should provide specific examples and, where relevant, illustrations of such intellectual property assets.
(b) Based on your answer in Question 2(a), explain how you can appropriately establish those intellectual property rights in Singapore. In your answer, you should discuss the steps taken to ensure that those rights do not infringe third parties’ rights over their respective intellectual property assets and provide examples of how such third parties’ rights may be infringed.
(c) Select one (1) intellectual property asset from your answer in Question 2(a), comment on the importance of some key aspects of that intellectual property asset and how your business can leverage on such aspects to gain a competitive advantage.