Current pandemic COVID-19 is rewiring the each walk of life and increasing the need of virtualization and digitization wherever feasible. Consequently, demand for instant data access from anywhere& everywhere is increasing rampantly, which is mostly via use of clouds computing. Remote access and remote work on massive scale hugely depends upon cloud computing.Cloud computing savior to many businesses and various transactions which was once difficult to accept and adopt considering its reliability and security. Major Concerns Surrounding Cloud Computing Cloud Computing services are trending and in demand by leap and bounds due to its inherent nature of ease Continue Reading
“EMPLOYMENT BONDS” are mostly debated and usually comes with a host of crucial questions like whether employment bonds really work in India? or are employment bonds legally enforceable? Is the employment bond valid in India? Let’s explore the answers to these questions. WHAT IS EMPLOYMENT BOND? Employment Bound is an agreement between employer and employee it generally bars an employee from quitting the organization and/or joining some other organization before s/he completes a certain agreed period of time in this employment. WHAT ARE THE ELEMENTS OF EMPLOYMENT BOND? Employment bond contains terms and conditions stating the training given to the Employee Continue Reading
Read Carefully: Read each word in the agreement and take time to understand all the terms in the contract. Entire Agreement needs to read and understood before signing. Negotiate: It is essential to negotiate the terms which you feel are one sided or you don’t want to accept. Mutually acceptable needs to be part of the Agreement and non-consensuses terms shall be negotiated No Blank Space: Prior signing make sure no space left in any portion of contract and make sure nothing can be altered in the contract after signing. Cross Verify: Check whether the negotiated terms Continue Reading
It’s not uncommon leaving the start-up or business by founder or co-founder due different reasons. Departing of the founder or co-founder may adversary impact the organisation unless required steps are taken while forming business. Ways to Ease Co -Founder Exit Smooth: Planning early and adopting few precautionary measures are helpful to ease the process of founder exit smooth and also helps in reducing the adverse impact on the business. The below are the some of the common measures to plan and follow for smooth exit Execution of Founders Agreement: This agreement serves several purposes and one among them Continue Reading
Using standard contract templates in a business on day today basis for the similar types of the business transaction is common. Templates helps in saving the time and money but comes with associated risks and repercussions which are better to be know prior use and take steps to reduce and avoid the risks. Below are some of the illustrative risks associated with use of contract templates. I) Risk: Template usually lacks holistic approach and understanding of business transaction thereby carries more risk than specifically drafted agreements. *How to Reduce Risk while using Contract Template Use the template only after required Continue Reading
Benefits of hiring business lawyer from the day one of the business are enormous and elementary. Never wait for the legal hassles to hire lawyers/seek professional legal help be cautious of the repercussion’s of actions or inaction's in business operations. Here is the list of most basic and obvious reasons for hiring the business lawyer from the day one of the business. Being proactive prior lawsuits and avoid violations business lawyer is crucial Help the business to choose the business name including marking tag line Help choose most appropriate form of business entity Incorporate/ register the business Helps Continue Reading
Are you an entrepreneur or founder or investor? If yes then consider recording of proposed terms during discussion / negotiations with your vendor, supplier or any other stakeholder under terms of Term Sheet especially in case of large and complex deals. Term Sheet: It is called by different names like letters of intent, memoranda of understanding, heads of terms,letters of potential interest, protocols and so on. Whatever the heading may be but serves same purpose. What is Term Sheet? It is written document between the Parties which sets out the high level, important terms and conditions of the prospective Continue Reading
Legal tech is rapidly growing and its sub sects like legal process automation and Do it yourself law (DYI) is slowly gaining momentum. DYI use and efficacy in law is debatable. Legal professionals are divided in this DYI regime some are in favour and other against the use of it. But in spite of all these the fact is DYI is slowly getting ground. I) Why DYI in Law? DYI, as the name suggests it is “DO It Yourself” in lieu of legal help under legal regime. Due to the high fees / hefty legal expenses people may Continue Reading
1.Intro: Problem solving, improvised and efficient measures, processes, products in every walk of life require creative thinking & novel ideas. These novel ideas may require prototyping. Prototyping develops the idea or early designing of process or product may need prototyping. Product designers, technical experts, design engineers usually process / create prototyping to hatch their ideas to life. Prototype simply means an early sample, model, or release of a product built to test a concept or process 2.Need for Prototype Protection: Prototypes helps in bringing idea to life but protecting these prototypes are challenging. Sometimes these prototypes are neglected to Continue Reading
Before venturing into any business, it is always advisable to know on the below pointers 1)Business Structure: formation of business entity like proprietorship concern, partnership, limited liability partnership, private limited, limited company. Choose which is more appropriate to you and your business type. 2)Founders Agreement: This agreement acts as guide to the founders and co- founders and protects the interests of promoters. Defines roles and responsibilities of each. Helps in the division of profits and losses. Addresses the concerns of shareholding. But well designed and drafted founders’ agreement is indispensable. 3)Business Licenses – Based on your business type Continue Reading
