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What is perpetual succession? |
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Answer» "Perpetual Succession" in a company is best defined by this line -Members may come and go but the company goes on forever.It is one of the fundamentals of a company\'s existence. Perpetual succession means that a company\'s life is not determined by the longevity of its members, shareholders, promoters, directors, employees or anyone else. If a shareholder dies, or hypothetically, all the shareholders die, only their shares in the company will be transferred to new people. If even a key director resigns, she will be replaced but the company will continue on.\xa0 Perpetual succession means that members may come and go but company continues to operate. |
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