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 Ken's 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.(Issue, Rule Application, conclusion) structure for your answer

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 Ken's 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.(Issue, Rule Application, conclusion) structure for your answer

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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