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Can the legal representative of a wholly-owned subsidiary be changed?
In the market, in order to expand their business, some companies will allow some people to set up new subsidiaries independently on the basis of authorization, but some people with stronger ability will use all their own funds to buy all the rights and set up a wholly-owned subsidiary, and there is usually only one legal person in the case of wholly-owned. Then, can the legal representative of a wholly-owned subsidiary be changed? 1. Can the legal representative of a wholly-owned subsidiary be changed? 1. The legal representative can be replaced at will, as long as the shareholders' meeting passes a resolution. The legal representative is only a position of an enterprise and only exercises legal civil rights on behalf of the company. 2. The legal representative refers to the person in charge who exercises authority on behalf of the legal person according to the law or the articles of association of the legal person. China's laws implement a single legal representative system, and it is generally believed that the chief executive of a legal person is its only legal representative. 3. If the company is the chairman or executive director or manager (article 13 of the Company Law), the legal representative of the stock exchange is the general manager (article 107 of the Securities Law). The legal representative of an industrial enterprise owned by the whole people shall be the director or manager. 4. The legal representative refers to the main person in charge (such as the director and the chairman of the company, etc.). A person who exercises civil rights and performs civil obligations on behalf of a legal person according to law. Related knowledge: A wholly-owned subsidiary refers to a company with only one corporate shareholders. A wholly-owned subsidiary refers to a subsidiary wholly owned or controlled by a single parent company. The parent company can set up a wholly-owned subsidiary in two ways: the first is to set up a new company from scratch and build brand-new production equipment (such as factories, offices and machinery and equipment, etc.). ); The second is to buy existing companies and use the company's equipment for their own use. Whether to set up an international subsidiary through acquisition or new construction depends largely on the business activities planned by the parent company. For example, when a parent company sets up a subsidiary to produce the latest high-tech products, it usually needs to build a new factory, because it is difficult to reach this cutting-edge technical level by relying on local conditions. In other words, we can easily find many companies that make small things like bottles and cans in most target markets, but few companies produce the most advanced computer chips. The main disadvantage of re-establishing subsidiaries is that it takes too long, because it takes a lot of time to build new equipment, hire and train workers and develop products. On the contrary, it is relatively easy to find an existing company with marketing and sales capabilities as the acquisition target, because generally no special technology is needed. By acquiring the marketing and sales business of existing companies in the target market, the parent company can make its subsidiaries operate faster. Especially when the acquired company has a valuable trademark, brand or technology in the target market, the acquisition method is a good strategy. To sum up, although a wholly-owned company is equivalent to being owned by an investor, and the investor is the leader or legal representative of the subsidiary as usual, if there is any inconsistency, the investor can decide whether to change it.