A joint venture company is a company established by two companies with the same investment capital, each owning part of the shares and sharing the profits, expenses, risks and control rights of the company.
The joint venture company may be established only for a project or plan, or it may continue to cooperate in the form of a joint venture company like Sony Ericsson.
Article 148 of the Company Law stipulates that directors and senior managers shall not commit any of the following acts:
(1) Misappropriation of company funds;
(2) Opening an account for the company's funds in the name of an individual or in the name of other individuals.
(3) Lending the company's funds to others or providing guarantee for others with the company's property without the consent of the shareholders' meeting, the shareholders' general meeting or the board of directors, in violation of the articles of association;
(four) in violation of the articles of association of the company or without the consent of the shareholders' meeting and the shareholders' meeting, enter into a contract or conduct a transaction with the company;
(five) without the consent of the shareholders' meeting or the shareholders' meeting, taking advantage of his position to seek business opportunities belonging to the company for himself or others, and operating the same business as his company by himself or for others;
(six) accept the entrustment of others and regard the transaction with the company as your own;
(seven) unauthorized disclosure of company secrets;
(8) Other acts that violate the obligation of loyalty to the company.