StartUps

Start-ups are driven by the vision of the entrepreneurs, and with a great deal of focus being placed on customer specific solutions and markets. Often the start-ups do not evaluate the risks that are associated with the laws of the land. While finding the right partners for the venture is a foundational necessity, formalizing a founder’s agreement to safeguard the rights of the founding members is equally, if not more, important.

As a start-up it is essential for one to appreciate the basic laws, rules and regulations that are pertinent to your business, and also to appreciate any applicable sector and/ or region-specific requirements. There are business licenses and permits which must be obtained, for initiating and running a business. Compliance with tax and labor schemes go a long way in ensuring conformity with the stringent requirements in the respective sectors.

Apart from ensuring compliance, it is necessary to appreciate and protect the USP of the business; vis a vis intellectual property protection. In this tech savvy environment, it is imperative that the intellectual property of the entity is always safeguarded. The Start-up schemes afforded by the government allows special tax exemptions where the concerned entity qualifies according to the prescribed parameters.

Keeping up with effective contract negotiation and management is required throughout the business. This must involve handholding of lawyers and continuous advisory throughout the lifecycle of the business. TMT Law Practice believes in extending handholding support and active guidance to the founders and the businesses that reflect the devotion and the strength of the individuals nurturing them.