Faq

Frequently Asked Question

More often than not, a person/company is made to believe that the accountant can draft the incorporation documents and do all the necessary filings. However, in our experience most companies come to us after they realise that the accountant has failed to or missed drafting an essential clause due to which the company faces penalties or their rights have been protected properly.

Thus, it is vital to engage a lawyer and an accountant to do their respective jobs, to ensure that you are protected.The advantages of hiring a lawyer of the stage of conception are multi fold.

 There are numerous matters such as contractual disputes, property disputes, environmental disputes that have to be dealt by a business owner and in order to prevent these disputes from arising and the services of a lawyer prove essential.

Yes, it is pertinent to execute employee contracts as it lays down the rights and responsibilities of the employee and the obligations of the employer as per the law.
Such as:

  • It is mandatory that all employees in factories or establishment shall be insured.
  • Maternity benefit, sickness benefit, disablement benefit have to be provided.
  • Any establishment with over 20 employees, has to be registered with the Employee Provident Fund Organisation.

It is also beneficial to have a lawyer draft an employee manual to ensure that the employees are aware of the governance of your establishment.

It is better if the tradename is registered as it gives you the exclusive right to use such tradename. It is not mandatory to register a trademark however to be on the safe side, it is better to get it registered. Due to the awareness created about the rights and privileges of ownership, today, it is relatively easy to get your trademark registered, provided you have the right person/ firm to do the filings.

Intellectual property rights are valuable assets to your company. Once you have created a distinctive intellectual property, it is necessary to get it registered. Some of the benefits that you receive by registering your intellectual property is as follows:

  • The exclusive right to use such registered intellectual property.
  • You can obtain relief from a court of law if infringement of your intellectual property takes place.
  • A registered intellectual property dissuades others from using such property.
A lot of factors have to be looked into before investing in real estate. However, the major issue that start-ups face is availability of funds. If you have enough funds to rent a property then that is a viable option. The other option that you have is to take up a space as per your requirement at one of the various co working centres. Co working is a style of work that involves a shared working environment. The reasons it the most practical option for a start-ups are:
  • 1. It is cheaper which means the cost of the start-up is lower.
  • 2. It is flexible since as the business grows it is easier to scale up a shared office.
  • 3. There are networking opportunities in a co working space.