Legal Question in Business Law in Ethiopia

A,B,C,D and E has formed ashare company to run financial bisiness how ever in the formation of the company no one has contributed money in cash or in kind except the donation they got from the donars by the name of the public at large and E was not the founder how ever the other in need to asign E as a general manager they gave him a share with out any public subscription now my question is who is the owner of this share company as long as the holders has contributed nothing and as long as individuals has no right to establish a business company by donation?


Asked on 2/21/12, 12:02 am

1 Answer from Attorneys

Dear Sir;

The premise �if skill contribution has no value as per the law� is wrong. As per Ethiopian law skill can be considered as one type of contribution. So these shareholders who contributed skill are owners of this company in light of the Ethiopian business law.

Regards

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Answered on 3/05/12, 9:46 pm


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