[vc_row css=”.vc_custom_1591374827118{padding-top: 0px !important;}”][vc_column width=”1\/4″][vc_single_image image=”12372″ img_size=”full” style=”vc_box_border”][\/vc_column][vc_column centered_text=”true” width=”3\/4″ css=”.vc_custom_1596058830459{margin-top: 0px !important;padding-top: 0px !important;}”][vc_column_text css=”.vc_custom_1609421038681{margin-top: 0px !important;padding-top: 0px !important;}”]<\/p>\n
Before venturing into any business, it is always advisable to know on the below pointers<\/p>\n
<\/p>\n
1)Business Structure:<\/strong>\u00a0 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.<\/p>\n <\/p>\n 2)Founders Agreement:<\/strong> This agreement acts as guide to the founders and co- founders and protects the interests of promoters. Defines roles and responsibilities of each.\u00a0 Helps in the division of profits and losses. Addresses the concerns of shareholding.\u00a0 But well designed and drafted founders\u2019 agreement is indispensable.<\/p>\n <\/p>\n 3)Business Licenses \u2013<\/strong>\u00a0Based on your business type obtain the applicable license\/s before starting business.<\/p>\n <\/p>\n [\/vc_column_text][\/vc_column][\/vc_row][vc_row css=”.vc_custom_1591374827118{padding-top: 0px !important;}”][vc_column centered_text=”true” width=”3\/4″ css=”.vc_custom_1596058830459{margin-top: 0px !important;padding-top: 0px !important;}”][vc_column_text css=”.vc_custom_1609421056799{margin-top: 0px !important;padding-top: 0px !important;}”]<\/p>\n 4)Know the applicable laws & Comply:\u00a0<\/strong>It is must for every business to adhere to laws and abide by the laws in true to spirit.<\/p>\n <\/p>\n 5)Protect IP<\/strong>:\u00a0 Identifying and protecting IP from the day one of business is helpful<\/p>\n <\/p>\n 6)Contract Management:<\/strong>\u00a0Robust contract management system \u00a0\u00a0and not only signing the contract supports business the growth and also helps in relationship building with the vendors as well as customers.<\/p>\n <\/p>\n 7)Insurance: \u00a0\u00a0<\/strong>To protect the business against the risks role of insurance is crucial<\/p>\n <\/p>\n 8)Taxes:<\/strong>\u00a0Registering for the taxes and paying the taxes along with the knowing the applicable tax structure is required.<\/p>\n <\/p>\n 9)Privacy Protection:<\/strong>\u00a0\u00a0It is crucial to safeguard the privacy of individuals and adopt the security measures not to violate privacy.<\/p>\n <\/p>\n 10)Labor Laws: \u00a0<\/strong>Compliance of labor laws and having comprehensive compliance system in this regard is regard to avoid day to day operations of business as well as penalties<\/p>\n <\/p>\n Ignoring the legal side of the business will have serious repercussions on the business-like penalty, loss of credibility, damage to reputation.<\/p>\n [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Disclaimer: The information provided under this website is solely available for informational purposes only, should not be interpreted as soliciting or advertisement. We are not liable for any consequence of any action taken by the user relying on material \/ information provided under this website. It\u2019s not legal opinion in cases you have any legal issues then in all those cases you must seek independent legal advice.<\/em>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]* Write up by Team Purple Pursuits, for more details you can reach to us info@purplepursuits.com<\/strong>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":" [vc_row css=”.vc_custom_1591374827118{padding-top: 0px !important;}”][vc_column width=”1\/4″][vc_single_image image=”12372″ img_size=”full” style=”vc_box_border”][\/vc_column][vc_column centered_text=”true” width=”3\/4″ css=”.vc_custom_1596058830459{margin-top: 0px !important;padding-top: 0px !important;}”][vc_column_text css=”.vc_custom_1609421038681{margin-top: 0px !important;padding-top: 0px !important;}”] Before venturing into any business, it is always advisable to know on the below pointers 1)Business Structure:\u00a0 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.\u00a0 Helps in the division of profits and losses. Addresses the Continue Reading <\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":12372,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-12371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legal-write-ups"],"_links":{"self":[{"href":"https:\/\/purplepursuits.com\/index.php?rest_route=\/wp\/v2\/posts\/12371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/purplepursuits.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/purplepursuits.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/purplepursuits.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/purplepursuits.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12371"}],"version-history":[{"count":3,"href":"https:\/\/purplepursuits.com\/index.php?rest_route=\/wp\/v2\/posts\/12371\/revisions"}],"predecessor-version":[{"id":12375,"href":"https:\/\/purplepursuits.com\/index.php?rest_route=\/wp\/v2\/posts\/12371\/revisions\/12375"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/purplepursuits.com\/index.php?rest_route=\/wp\/v2\/media\/12372"}],"wp:attachment":[{"href":"https:\/\/purplepursuits.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/purplepursuits.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/purplepursuits.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}