Advisors In Start-ups And Early Stage Companies

A lot of people prefer to become an entrepreneur. There are new start-ups emerging in the country almost every month. Many people give it a shot. Some of them survive while some of them are shut due to several reasons. One of the most important things to consider while opening a start-up is hiring an advisor or an advisory committee. This will surely help you survive in the game longer.

Advisors are able to provide strategic advice on the company’s operational matters. If the operation of any company is smooth, 80% success is achieved for sure. Forming a board of directors is necessary but, forming an advisory committee is completely optional. However, it is important to remember that forming an advisory committee or hiring one advisor is crucial for the growth of the company.

The advisors contribute well to the company. They bring in a skill set that can enhance as well as complement the skill set of the founders of the company. It is always beneficial to have someone monitor the strategy and compliances while Read More

Winding Up Of Company Or Liquidation Of Assets And The Recent Trends

Any commerce, trading or business needs structured and efficient procedures for closing as much as for start-ups. Worldwide, the structured procedure of insolvency help business owner to close down non-viable business and start-up a new business. This safeguard, the human and economic resources of a country are uninterrupted streamlined to structured use, thereby increasing the overall efficiency of the financial resources.

Liquidation is an affair through which a company that is doing business can cease operation, and its survival comes to an end. It often happens due to bad governance, poor business growth, and fraud; hence companies or business owner is unable to pay its dues and in consequences need to sell its assets to pay off the dues. Though, this could be a non-compulsory act as well where law safeguards that all the debts of a business or company in existence is paid before it comes to an end or shutdown.

Section 33 of the insolvency and bankruptcy code 2016, the liquidation process can be Read More 

Indian Patent Office Issues Over Programming Licenses

 

 

The patent office has issued another form of adjusted rules for the patentability of Computer Related Inventions (CRIs) on June 30th, 2017. It is the third time the rules identified with the patentability of CRIs have been adjusted. The first rendition of the rules was issued on st August 21st 21st (2015 Guidelines) which were later supplanted by the regulations issued on 19th February 19th (2016 Guidelines).

Both the previous rules brought up a few issues and exceptional discussion because of the absence of clarity on patentability model for CRI licenses. Specifically prerequisite for equipment part to be novel notwithstanding the product/program.

Foundation

According to 2015 rules, the patentability foundation gave:

• Novel equipment, or
• Novel equipment with a unique programming/program or

An innovative programming/program with known equipment which goes past typical cooperation with Read More

Regulation of Cryptocurrency

The advent of Cryptocurrency is a revolution in the domain of money. The popularity it gained and the issue raised about the legality and illegality of cryptocurrency are trending matters of discussion among people. In India, this digital currency was accepted; however, the plethora of confusion was the outcome. Thus, the government of India decided to make the regulation of digital currency, which is undoubtedly a very different and much-required step.

Right from the beginning, Cryptocurrency is eminent as a digital currency used in online transactions. They are completely distinct from the traditional currency, and the most remarkable thing is that no authority controls it. It led to making cryptocurrency attraction of many investors in India. As the usage of cryptocurrency increased, almost everyone witnessed the cons of using cryptocurrency simultaneously. Some of the issues that arise are a surge in corruption, misuse of Read More

10 most crazy Lawsuits filed against big companies

We live in a society where there are people suing each other all the time. Some of the cases are valid while some of them are frivolous and bizarre. While suing a person or small enterprise is easier but suing a big company is quite a headache. Yet, there are a lot of people out there who have not feared the reparations and filed cases against big businesses. Some of the cases were not even considered in the court while some of them gained justice as well as popularity.

Here are some of the people who sued big companies for different reasons.

McDonald’s actually got sued for coffee
Can coffee ever harm? Well, no because coffee understands, right? But, for McDonald’s coffee priced for almost $600,000. This case dates back to the year 1992 where a 79 year old lady named Stella Lieback accused McDonald’s of hot coffee.

What actually happened was that Stella was in the car park with her grandson with the coffee from McDonald’s. She spilled hot coffee accidentally on her lap which created serious burns on her thighs and genitals. She had to rush to the hospital and undergo serious surgery. After this Read More

Types of Trademarks: Everything You Need To Know

TRADEMARK

A trademark is regarded as a unique symbol or sign which is used by a different organization to safeguard their goods and services from losing their identity in the competitive market. Trademark defined under section 2(zb) of the Trade Marks Act,1999 as, ’’trademark means a mark capable of being represented graphically and which is capable of distinguishing the goods or services of one person from those of others and may include the shape of goods, their packaging, and combination of colors’’.

Trademarks are both beneficial for a business as well as for consumers as the consumers can identify the particular brand of their choice and business entities can safeguard their products from the fraudulent trademark.

The Trademark Act, 1999, permits the registration of different types of trademark listed below-

WORDMARKS

A wordmark or logotype is basically a peculiar text-only typographic treatment that is used for the name of any company, institution or any product for the purpose of identifying or branding it. It consists of only the name and not symbol or badges. IBM, MICROSOFT, DELL, etc are few examples of word trademark. Wordmarks are the most common type of trademark which is found and registered in India.  So if the business entity consists of only text, it should go for wordmarks.

LOGOS AND SYMBOLS

A logo is defined as a symbol, design or a graphic image that is used by any business entity, institution or any service. Mainly it does not consist of any word but in case if any word is used with a graphical usage, the business entity must go for both, word as well as logos and symbol trademark. For example, Google uses both words as well as a graphic trademark. On the other hand, Apple has a peculiar symbol and graphic design which is used for all the product sold by Apple and no other individual or company can use a similar logo for their goods and services. Registration for both wordmark and logos can be done is a single application in India.

SERVICE MARKS

A service mark is a trademark that is used in particular to identify the service provided by the particular business entity. It is used for advertising of a service rather than on the packaging of a product. It might consist of any word, phrase, symbol or combinations of them. It safeguards the business entity to get potentially confused by the consumers using the service of that particular company as it prevents the other entities in the market to copy the same symbol or name.

Service marks are used mainly by the private carrier as they can paint their unique service marks on the vehicles like planes, buses, cars, trucks, etc used by them for providing service to Read More

Reducing Cybercrime and Governing Laws

What is Cybercrime?
Cybercrime is often known as a computer or technology related crime in layman’s language. It is a crime that takes place through a server or network-connected devices. Most cybercrimes involve computers as an instrument through which the crime is committed. They also play a pivot role in crimes such as child pornography, hate crimes or in hacking and spamming cases.

The person who commits cybercrime is known as a cybercriminal. Cybercriminals’ most commonly committed crimes include online bank information theft, money fraud, identity theft, online predatory crimes, and unauthorized access. Such criminals are often called hackers.

Cybercriminals are increasing every day as the growing age of digitalization makes committing a crime on the other side of the globe very easy. It also presents slim chances of being identified or getting caught.

The threat of cybercrimes is not only limited to individuals but also hits the national government because confidential data reaches to the systems increasingly, which make the national security vulnerable. Therefore, it is highly essential to look for ways to stop cybercrime permanently. Stricter laws should be implemented to punish cybercriminals.

The most dangerous cybercrimes are cyber-terrorism, which mostly involve cross-border crimes targeted at a particular nation, or crimes against a specific community which targets women, religion, or the LGBTQ community. A recent survey states that approximately $600 billion, nearly one per cent of global GDP, is lost to cybercrime every year.

Laws that govern cybercrime
To fight with the constant rise of cybercrime and to eliminate it ultimately, there are specific governing laws. These laws are Read More

8 Requirements for Writing a Legal Article that will Get Read

With so much practice, how can it be that legal counselors are so horrible at composing articles? It is safe to say that we are apathetic, narrow-minded, and nearsighted? I don’t think so – I believe no one’s at any point revealed to you how to compose an article that will get read. 

Attorneys get the opportunity to compose a lot of articles. It’s an entirely sure thing that you either have or will soon, need to complete some pieces of the article (or many). In that, you have to outline a case, propose a point, clarify an idea, or some other valuable sort of distribution to go into your company’s assets for its customers.

When in doubt, these articles take hours to create. You frequently need to look into a point, read a long case, comprehend and articulate the center issues, produce a draft, get criticism and correct it, at that point settle the selection and submit it for distribution. The procedure varies; however, the truth of the matter is the equivalent – composing an article costs loads of cash.

The crowd for your Legal Article 

Before you even conclude your theme, you have to think about your group of spectators. Who are they? What do they know? 

The most appropriate approach to do this, making an individual in your mind, which numerous scholars call a symbol or avatar. Here’s a model: Jane is a 34-year-old mother of two, she works all day, and her Read More 

Why Does Your Business Need a Statutory Compliance Service?

The word statutory signifies “of or related to statutes” which involves rules and regulations. Compliance signifies adherence. Therefore, Statutory in the most basic terms, means adhering towards rules and regulations.

So as to deal with the demanding regulatory environment, it is important that the companies in India obey to different specified laws. The organizations are required to look for efficient and effective ways to carry on in complying with these laws and minimize any legal risk.

However, non- compliance could result into heavy punitive damages imposed on the company as well as their key personnel if required.

The advantages of having statutory compliance in the business are that:

• It would help the firm to increase awareness regarding the compliance which allows the management to lessen the risks involved in non-compliance and check any setbacks.

• The firm could have a competitive advantage as they have a proven track record of being completely compliant and results in good reputation as well as goodwill

• The danger of adverse events is lowered. In case if any such adverse incidents take place, the gravity of the situation is decreased, owing to the compliance system being in place.

• Security of Personal information of consumers and Read More

What is International Trademark?

As we all know a trademark is a special symbol, sign or logo that-after registration is used for a particular brand name and identification. The simplest way to register a trademark is domestically in your own country. It is not compulsory to register a trademark internationally but in case your customers are from different countries, worldwide and the business is spread across a continent or the globe then it naturally becomes important to register the trademark internationally or other competitors may get a chance to exploit the company’s name.

International trademark is a vast system comprising of languages, laws and cultures, it isn’t easy to understand or explain it but just like any other system it comes with a set of rules and regulations. And a step by step guide to register a trademark. In order to eliminate the differences in trademark rights in various countries and to unify and recognize a set of rules in many countries there is a series of treaties signed by these countries to help the citizens of their country get their international trademark application and continue their business worldwide without any hindrance.

Madrid Protocol

The Madrid Protocol is an international system used for registering trademarks internationally in countries that come under this system. There are approximately 90 countries that follow this Madrid system. It consists of two treaties that form the legal base of the Madrid system, they are:

a) Madrid Agreement Concerning the International Registration of Marks of 1891

b) Protocol Relating to the Madrid Agreement (1989).

Madrid system is used widely because it Read More