I have a CC registered in 2006 and was the only Member until June 2020.
An acquaintance of mine had a concept to develop a training course and had put together a rudimentary training guide and presentation slides. He joined the CC as a Member wherein I relinquished 50% of my Members interest to him at no costs. His contribution therefore was the learning materials and IP thereof. Noteworthy, the CC though active/in business on CIPC, never traded. As such from June 2020 we opened a bank account, secured Tax Clearance, fine tuned the material , put up a website, FB and LinkedIn presence, purchased some training and online platform licenses and applied for SETA Accreditation. The combined loan account at present stands at around R80K. Effectively the CC is well now well positioned to take its value proposition to market. Unfortunately, my relationship with the other Member has irretrievably broken down and he has elected to resign from the CC. What I need to know is what if anything is he permitted to "take"?, there are no assets or liquidity in the CC (its your typical start-up). It is my understanding the the training material and or IP, which is in the name of the CC belongs to the CC, as does the website, bank account, social media accounts etc. Can simply take everything that has been developed and put in place, including the "Trading As" name and set up shop in another corporation? His loan to the CC still needs to be ratified with proof but he states its R50K. If he demands the loan amount, who would need to pay it?
There is NO Member Association Agreement in place! What is the legal precedent in scenarios as above, considering that the provisions of the Act and juristic persons.
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