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Showing posts with the label Business Economics

LLP vs Private Company in India: Which Should You Go For

Article by  Drishti Saigal .   When you're starting out with a business, there's tons of ways you can go about it. You can start your business as a sole-propreitorship, a partnership, a Limited Liability Partnership or you can even start a private company . Now, of these types of legal business structures, two are very popular - an LLP and a Private Company. In this article, we are going to compare the two business structures and show for you, which one is better for your business. If you start out with a partnership, you can limit your liability towards third-parties by forming an LLP. An LLP is governed under the provisions of the Limited Liability Partnership Act, 2008. A private company also is a business structure, which limits the liabilities of its owners. It is a very lean method of doing business like that of the LLP.  Plus, with several recent amendments to the Companies Act, 2013, there is even a special class of private companies called One Person Compan

All You Need to Know about Power of Attorney: The Definitive Guide

This article has been written by Dhwaja Shrivastava , a law student, pursuing B.Com, LLB at University of Petroleum and Energy Studies and an intern at WinSavvy. Connect with her on LinkedIn . You must have heard this term “ power of attorney ” in many American television shows such as Grey's Anatomy, Law and Order, Suits etc. Have you ever wondered what does this mean? The meaning of ‘power of attorney is not as difficult as it sounds; it just means a tool through which you can share, with another person the authority of taking decisions on your behalf. It is a legal tool, basically established to ease your work and reduce the work pressure from your shoulders. It just means that you are permitting someone you chose to make binding decisions on your part. The power of attorney has the power vested in him or her to take steps for you legally, medically and in every aspect. This device of "power of attorney" is an incredibly important business tool used all

How to Localize your Business for The Indian Market: (In 2022)

Over 1.35 billion people live in India. It's the world's second most populous country. This makes the country very attractive to many businesses with a wide range of products and services to sell. The thing is - the Indian market is huge and full of potential. The people have a real strong purchase power and therefore the market is saturated with untapped potential.  However, a number of foreign companies have had problems penetrating the Indian market and taking advantage of the large, lucrative, business potential and opportunities that exist there. One of the reasons more major companies have not been able to make inroads into and become successful at doing business in India is because they often attempt to impose traditional business practices and models on the local population. Learn the Indian Way Of Doing Business Traditional global best-practices don't work in the Indian market. Companies that have tried typical global business models like sole ow

What You Need to Know Before Investing in or Setting Up a Business in India

Okay, so considering the recent spurt of outsourcing all over the world, I wanted to talk about whether you should invest or set up businesses in other countries than USA such as India and China (the biggest business destinations in the world) as well as other countries. In this post and some of my subsequent posts, I will share with you some key stuff you must know about, before you set up business in India. So, I am inclined to call this and some of my later posts part of an  Investing in India series! Don't worry, before every such Investing In India series, I will make sure to notify you at the top. And also, I will make other Investing in series which will be similarly comprehensive in terms of the business statistics, economics and laws of the countries which I will talk about. In this  Investing in India  series, I will share with you the Business Economics of India and some must-know laws in very simple terms so that you get a basic understanding of what can co