Before the implementation of the Companies Act in 2013, a single individual could not start a business. If an individual wishes to start a firm, he or she could only do it as a sole proprietorship because a company requires at least two directors and two members. A private company requires at least two directors …
With the startup environment booming across the country and an increasing number of people wishing to start their businesses, it is critical to be familiar with the various business proprietorships, limited liability companies, and private limited companies that are all available as registration alternatives. In legal terms, Section 2 (68) of the Companies Act, 2013, …
After nearly 90 years under British control, India gained independence in 1947 and became a federal republic in 1950. The “Republic of India” is the formal name. The federal parliamentary constitutional republic political structure (Parliament) has a President, Prime Minister, and Legislature. An Indian LLC, or Limited Liability Company, is a popular option for Westerners …
The Indian Partnership Act of 1932 controls and regulates partnerships in India. Partners are the individuals who join forces to form a partnership firm. The partnership firm is formed through a contract between the partners. A partnership deed is a contract between partners that governs their relationship as well as their connection with the partnership …
The owner of a sole proprietorship is responsible for paying personal income tax on business profits. Many sole owners operate under their names because registering a separate business or trade name is not required. A sole proprietorship, also known as a lone trader or proprietorship, is the simplest sort of business to start or dissolve …
A joint development agreement (JDA) is an important legal instrument that outlines the terms and conditions of collaboration between two or more parties in a joint development project. It is critical to establish clear rules for ownership, licensing, confidentiality responsibilities, dispute resolution methods, and risk and liability allocation. A well-written JDA provides a framework for …
The IP assignment agreement, also known as an IP transfer agreement, ensures that when an employee works on behalf of a company to generate an intangible property, the corporation retains the rights to the creation. Types of IP Assignment Agreements How to Draft Intellectual Property Assignment Agreement Lead India offers various legal services, such as …
How To Draft Intellectual Property Assignment Agreement Read More »
This type of contract specifies the services that the supplier will give, as well as the project’s timeframe and pay. Most service contracts include a list of both parties’ rights and obligations, as well as liability and confidentiality guidelines. Many people talk about dispute resolution in case either side breaches the contract. When Do You …
Freelance agreements will normally include information regarding the project scope, contract period, payment schedule, price structure, deliverables, and other details. The purpose of a freelance agreement is to ensure that all expectations are correctly established between the two parties to build a mutually beneficial relationship. Benefits of a Freelancer Agreement: When Do You Need a …
The letter is widely used in business negotiations to summarise the main elements of a potential deal. LOIs are important when two parties are originally brought together to work out the broad strokes of a contract before settling on the details. An LOI has certain criteria, obligations, timelines, and persons involved. Many letters of intent …
