Pay Attention to the legal Strategy of your Business

Posted By admin / July 5, 2016 / Consumer Protection, General Legal, Legal Drafting, Property, Startups / 0 Comments

Written and contributed by Mr. Kunal Madan

It will pay off:-
If you think through the legal strategy for your business, it can help you in the long run, especially when a legal challenge comes up. Do pay attention to these aspects

1. The Legal Identity – Proprietorship , Partnership  or Company? If you are starting a business, make sure to assess the goal of your business and accordingly form any of the above three identities or consider converting one to another.

2. Written Communication – You should insist on everything in writing, be it email, purchase order or even informal agreements.

3. Agreements — Do not hesitate to negotiate, even if you are in dire need of business. Also, get into the details of:

A. Commercial  terms: Take decision of minimum
B. Legal –  Take desicion on Jurisdiction, Arbitration, Indemnification etc

4. Complete Legal formalities for Trademark, Copyright, Patents, Taxes

5. If anything goes wrong, mediate in the beginning and if it is not resolved, exercise your rights.

6. Have a monthly meeting with your lawyer for the updates of the matters on new laws, judgments  and its implications.

7. Have monthly/weekly updates of your litigation matter with your lawyer.



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