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Showing posts with the label Entrepreneurs

How to SWOT and PESTLE Analyse a Business Plan

Article by Eshani Jain . Got a business idea? Great. But, that's just the first part of the puzzle of going forward with your startup. If you do not want your startup to blow up in a smoke, you need a real plan.  A plan will guide the way forward for your company, how you'll conduct the varied activities of your organization, how you'll put your finances to use and the way will you outrun your competitors to realize your pre-determined goals.  But creating the plan is not enough. You also need to vet it. You need to see if your plan can actually survive in the real world before you jump in with your business. And for that we use the- SWOT Analysis  PESTLE Analysis These analysis may seem like a bother, but they are key for any business looking to make an impact. While SWOT test is a much broader test, which predominantly analyses the internals of a business plan, the PESTLE test analyses whether the plan is sufficient in the environment where you wan

What constitutes Trademark Infringement in India: An In-depth Analysis

Article by Janhavi Dudam . An owner of a trademark has the right either to use his trademark himself or assign it to others. If the product and services used are identical or deceptively similar to which the mark is registered then it would constitute an infringement. In the case of a registered trademark, the registered proprietor user may take action against the infringement. But if a trademark is not registered, it is likely to maintain a common law remedy for passing off action. Sec 29 of the Trademarks Act, 1999 , provides that a registered trademark is infringed by an individual who, not being a registered owner or a registered user, uses a mark that is identical or deceptively similar to that of an equivalent product or services for which the mark is registered. In this article, you will get to know when an act constitutes infringement of copyright, when it's teetering on the edge and when one's not infringing. So, let's get going!

All About Company Resolutions under Indian Law

Article by  Vanshika Godara , Edited by  Drishti Saigal Since a company is an artificial person and given a legal persona, any decision which is to be taken by the company are in legal talk, known as a ‘Resolution’. During the lifetime of your company, you need to hold some general or board meetings whenever an important decision is to be made by the members and directors. In these instances, some procedures and rules are to be followed by the company to ensure that the execution of these formal meetings is complying with the Companies Act. An example of a resolution could be a company’s board decision of reducing the wages for its executives as a result of an extended period of decreased profits, with the aim of minimizing the company's overall expenses. A smaller scale business resolution would be a manager's decision to fire an employee because of his/her bad performance. These are just examples and there are a lot of legal intricacies that are involved

Corporate Social Responsibility in India

Article by  Vanshika Godara , Edited by Drishti Saigal Corporate Social Responsibility is not a brand new construct in India.  However, the Ministry of Corporate Affairs, Government of the Republic of India has recently notified the Section 135 of the Companies Act, 2013 beside corporations through the (Corporate Social Responsibility Policy) Rules, 2014.   "Hereinafter CSR Rules" and the alternative notifications connected to that, which makes it  mandatory. Sub Section (1) of Section 135 provides the base-line for companies to adhere to the provisions relevant to Corporate Social Responsibility. According to Sub Section (1) of Section 135 - Every company having net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during any financial year shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more directors, out of which

How to Create Vision and Mission Statements for Your Startup: All You Need to Consider

Article by Namrata Ghosal, Edited by K. Manoggnya Reddy . It is not easy to start a business. Nine of ten startups fail because of several reasons . If you are the founder of a company or responsible for its management, you need to make sure a lot of things are in order - for example, having a proper business plan, communication , company culture and most importantly - a vision and mission statement. The first question that may pop up in your mind is "What are the vision and mission statements?" So, let's jump right into it -

Law relating to Audits of Private Companies in India

Article by Anant Pratap Singh Chauhan , Edited by Chinmay Jain . Private Company is a type of company, wherein the company does not float shares in public for the purpose of amassing capital.  A private company has been defined under Section 2(68) of the Companies Act, 2013 as – “private company means a company having a minimum paid-up share capital as may be prescribed, and which by its articles, — restricts the right to transfer its shares; except in case of One Person Company, limits the number of its members to two hundred: Provided that where two or more persons hold one or more shares in a company jointly, they shall, for the purposes of this clause, be treated as a single member: Provided further that— persons who are in the employment of the company; and persons who, having been formerly in the employment of the company, were members of the company while in that employment and have continued to be members after the employment ceased, shall not be included in

How Augmented Reality Can Transform Your Startup

Article by Eshita Nandy . Augmented Reality (AR) is taken into account as a way that mixes a live view of varied things in real-time with virtual computer-generated images, creating a real-time ‘Augmented’ experience of reality. It's been one of the most important sectors of research for many years by scientists. Augmented reality seems like the technology of the near feature. AR is going to change how business is done completely.  The core advantage of business in using augmented reality for smartphones and tablets is that the hardware is available, and the usage is intuitive and easily understandable by the average consumer. Augmented reality can be applied to various industries as and when required. Augmented reality has been a hot topic in software development circles for several years, but it’s getting renewed focus and has been in the spotlight because of the development of products like Google Glass. While, AR has helped development of highly addictive game

All about Limited Liability Partnerships in India

Article by  Varsha Chamakura . Partnership under The Partnership Act,1932 in business or profession is considered to be the oldest legally accepted organisation, which consists of more than one person.  A partner has unlimited liability, but due to advancement in Commerce, its Allied activities growth and the business organisation, the law had to be changed to suit the present conditions.  That is why another type of partnership was formed – the Limited Liability Partnership. In this type of Partnership, the liability of partners incurred in the normal course of business does not extend to the personal assets of the partners. This type of partnership is most common among Small and Medium Enterprises (SMEs), small businesses and professional services. Limited Liability Partnerships or LLP is considered as something that attains principal benefits of both, partnership and companies. Due to the wide scope and advantages of LLP as compared to the general partnership,it is ga

Measures Taken In Relation to Insolvency And Bankruptcy Code, in The Wake Of COVID-19

Article by Anant Pratap Singh Chauhan , Edited by Chinmay Jain . The COVID-19 pandemic has brought the world on its knees.  The global economy is at the risk of a severe recession as the pandemic has locked people in their houses and thus disallowed them to perform economic activities. India as well is at the risk of a recession, way more severe than the ones facing its worst recession since 1979.  Goldman Sachs has predicted that Indian Economy is likely to shrink by 45% on an annualized basis this quarter. Further, there may be up to a 5% drop in real GDP this fiscal year.   The situation as of now is very severe.  The Government in a series of press conferences announced various policy changes for providing a stimulus to the dying businesses of the country. This paper primarily focuses on the measures taken in relation to the Insolvency and Bankruptcy Code. Finance Minister Nirmala Sitharaman, on 17 th May 2020, announced several measures to provide relief to compani