There is no age limit to start your own business. If you have an idea that you want to materialize into a successful business venture, there is a lot of paperwork involved. It starts from the legality of the name under which you wish to register your business. If a name is taken by an already existing firm and is trademarked, you cannot use the name.
So, to ensure that you are doing things correctly, it is best to engage a law firm that will give you the genuine and best advice.
An experienced firm knows the nitty-gritty of setting up a business and will help you start your business with minimum trips to the government offices.
Parthasaarathi LLP, lawyers in Navi Mumbai, with an expert team of technologically sound professionals, is supporting the citizens to access the right legal advice and document products through out the year.
What are the legal aspects of setting up your own business?
Legal assistance for startups aids in the formation of a solid foundation and results in hassle-free operations, allowing founders/promoters to focus on more important tasks such as hiring, funding and finance, and other processes that enable growth.
Listed below are some of the legal aspects of setting up your own business:
- Getting the business legally registered.
- Setting up the company structure.
- Sole proprietary
- Single person
- Private limited company
- Public limited company
- Limited liability partnership
ParthaSaarathi LLP was established to provide businesses and individuals with rapid legal assistance. A startup may not require the services of a lawyer, but it does require legal counsel to secure and protect itself. ParthaSaarathi LLP was created with the needs of startups and small and medium businesses in mind. They can help you launch your business with flexibility, cost-effectiveness, and customised solutions.
Listed out below are the steps involved in starting your business and the documentation you need to submit to have your business up and running.
1) Registering your business name: It should be relevant to the nature of your business and original so that you can apply for a trademark. Also, your digital presence, that is, your domain name, should also be relevant to the nature of your business so that it promotes itself.
2) Registered founders agreement:
Agreement between founding members clearing demarking ownership rights, percentage share in profitability, responsibilities of each member, and anything else that will ease the settlement of disputes between partners in the future, if any.
3) The next step is obtaining legal licenses to conduct your business. This includes:
- GST registration
- Tax Account Number
- Bank Account Number
- Shop or establishments license(gumasta)
- IEC registration for Import-export business
- FSSAI for food business
- Halal registration for Halal goods
- Kosher registration to deal in kosher goods.
And many more depending on the nature of your business.
4) Knowledge of taxation and accounting.
Being abreast of annual budget provisions and policies will take you places.
5) Gather knowledge on labor laws if you need to hire people. You have to know about gratuity, provident fund, holidays, maternity leaves, sexual harassment, etc.
6) Start-up intellectual property protection.
7) Drafting a business and company policy to keep the company goals in mind.
8) Getting your business insured.
9) Closing policy. If at all you come to a stage where you need to wind up your business, you need to know how.
Parthasaarathi, LLP offers customised solutions to small and medium-sized businesses and startups, guiding them through all stages of their growth process, including incorporation, structuring, compliance, funding options, and employee stock options, among other things in a legally structured format.
ParthaSaarathi LLP, a team of paralegals and advocates are among the best Startup legal assistance firms in Navi Mumbai. They will help you prepare some of the most crucial documents you need to begin a startup in India.
- Digital signature certificate
- Director identification number
- MCA portal Registration
- Incorporation certificate
- Business commencement certificate.
You may also need papers to establish verified information of your company’s official address, professional tax number, ROC registration number, PAN number, GST registration. Provident fund registration and ESIC registration.
Paarthsaarthi LLP offers to:
Prepare original customised drafts which are in orientation with the new company formation.
Prepare a brief, to-the-point documents because they will take their time and not rush through.
They aim to provide cost effective services, and work towards customer satisfaction.
They don’t create unneeded work since they believe in building trust and long-term relationships with their clients by providing honest advice and solutions.