News Arm Retakes Control of China Operation, Erratic CEO Replaced

[Admin]

The co-CEOs are backed by new business registration documents, and a new seal issued by Chinese governmental authorities in Shenzhen.

Arm Retakes Control of China Operation, Erratic CEO Replaced : Read more

 

[hotaru.hino]

If anyone wants to watch a video about that Chinese law.

 

[digitalgriffin]

I imagine armed security will accompany the new CEO / manager as he arrives.

 

[waltc3]

When new businesses hailing from outside China open up inside China, it becomes a running bet to see how long it will take China to try and nationalize the company... If they don't quite go that far, they "as good as" nationalize it, while denying nationalizing it. In any event, the IP is forfeited.

 

[missingxtension]

If you don't have 7 minutes to waste watching the video. It comes down to an archaic law about having a seal or stamp. You have to physically have that in China, like a notary stamp in the US l. Chinese Arm CEO went missing with said stamp seal, so legally it was problematic. So fast forward now, problem solved. You can have your 7 minutes to do all you want with them. Unless you are a slow reader! Watch the video and save time!

 

[TCA_ChinChin]

If you don't have 7 minutes to waste watching the video. It comes down to an archaic law about having a seal or stamp. You have to physically have that in China, like a notary stamp in the US l. Chinese Arm CEO went missing with said stamp seal, so legally it was problematic. So fast forward now, problem solved. You can have your 7 minutes to do all you want with them. Unless you are a slow reader! Watch the video and save time!

Seems really weird from a Western perspective, but I guess some Asian countries still have certain laws or customs that take into account those seals/stamps like China or Japan. Still really bad that there isn't or wasn't a better solution other than getting it back. Definitely another hit on Chinese market's already dreadful reputation.