How to Register a Partnership Based Startup in India

Are you looking to initiate a partnership-based Startup? Do you it's the registration process? Do you know that the registration of a partnership business is optional in India? If not, then don't worry. We will share with you some important tips to move in this direction.

 

Even though registration of a partnership business is not mandatory, there are several benefits you can get after doing so. Let's have detailed information about it:

 

Steps by which you can start a partnership-based Start-up in India

 

If you want to list your business as a partnership Startup, you have to follow some steps to enlist an association firm.

 

Step I – Select the name of the business: The first step to follow is to make sure that the business name you are choosing is unique and doesnot match any other firm name. You can check it by visiting the ministry of corporate affairs (MCA) official website, you can enter the name which you have decided to put in and can easily find out its duplicate name with a single click.

 

Step II - Draft your partnership deed: You should mention some important details as mentioned below:

 

1. Firm Name including the partner's name.
2. In what percent partners have contributed to the firm.
3. Salary payable to the overall staff.
4. The ratio of P&L among the partners.
5. The process which should be followed if a partner retires or dies.
6. The duties are followed by every partner.

 

Step III –Implementation of the partnership deed: Once you mention the above-given point, you need to take the signature of every partner and the witnesses.  The stamp duty should be given as prescribed by the Stamp Act of the concerned state and must be executed on stamp paper. The deed must be notarized after the payment is done.

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How to incorporate a private limited company in India

 

A private limited company is the most popular form of organization in India. Start-ups prefer this because it helps in getting seed funding and issue ESOPS. As they are legal entities, they need registration and are subject to a few rules for annual filing and for the payment of taxes. There are certain registration steps to incorporate a Private Limited Company, it varies from country to country on how one needs to register.

 

Registering a business may seem like an intimidating process, but it's not that complicated. 

 

Every business must register itself as part of mandatory legal compliance. First, you need to choose a business structure while applying. You will also need to check for the name availability of your company. One also needs to have documents like Proof of Identification, Proof of address, Rental agreement, etc... 

 

Now-a -days, registering a company in our country is a simple 4-step process. At the beginning of the process, you need the DSC (Digital Signature Certificate). As most things are online now, digital signatures are required to fill out forms in the MCA portal. The DSC is mandatory for all proposed directors, memorandums, and signatories. The second step is the Director Identification Number (DIN), which is to be obtained by anybody who wants to be a director, after this the name and the address proof are to be provided in the company registration form. Then, comes the registration on the MCA Portal; for this, the SPICe + form is to be filled and the documents are to be submitted. After registering, the director can log in to access the MCA portal service. This includes submitting electronic forms and viewing published documents. 

 

Lastly, it’s the Certificate of Incorporation, once the registration is done and the documents are submitted, then the application will be reviewed and after that, the certificate is issued. These are some easy steps of registering for a company. Once, all the steps are completed there are some conformances to be followed. There are a lot of benefits of having a private limited company. So that’s how one can incorporate a Private Limited Company in India by only following a few steps and rules. 

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Trademark Registration | Setup company in india

Trademarks are unique identities that can be registered with the regulatory authorities in order to legally protect a product, service, or a business name from not only illegal impersonators, counterfeits, copies, etc. but also from solicitation of unwarranted ownership that is often showcased by third parties on purpose to either willingly encase or to spoil a reputation built by the actual owner of a brand.

Unique identities and expressions can be logos, photographs, slogans, words, color combinations, graphics, etc.

SSI recommends that if you have a unique product name, brand, or logo then the only legal recourse to protect your exclusive ownership rights is to register it as a trademark.

A registered trademark becomes the intellectual property of your business and its registration certificate acts as a protective cover.

In India, trademarks are registered and regulated by the Controller General of Patents, Designs and Trademarks, Ministry of Industry and Commerce, Government of India. You can register your trademark under the provisions of The Trademark Act, 1999.

 

A registration certificate once obtained is valid till 10 years from the date of registration and provides the owner a right to sue the entities who try and copy a registered trademark.

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