Trademark Registration in India

A business contract is a legal agreement between a buyer and seller of goods or services. Business contracts can be used by anyone making any kind of business exchange – from large companies to individuals. Business contracts should include all details about the exchange, including payment, the type of goods or services, and the responsibilities of each party. A business contract will protect both the buyer and seller in the event the other party does not hold up their end of the agreement.

A Business agreement is a kind of agreement in which each party agrees to an exchange typically involving money, goods, and services. It protects both buyer and seller by reducing agreements to writings. The contract can be as long or as short as possible and necessary in order to cover the important details of the contract.

 A business agreement requires the following:

• Offer
• Acceptance
• Consideration
• Meeting of the minds

​​The outturn of not having a signed agreement:

When you have a business contract reduced to writing, you have a clear road map detailing what you and the other party to the contract agreed to. Because contracts are legally binding, if the other party fails to meet their obligations, you have the right to legal recourse.

The absence of written service agreements and sales agreements has led to many disagreements. This can lead to lost business and ill will. In some cases, if the contract is not in writing, it is not enforceable – even if there is no dispute over the terms.

Lawyers often say oral contracts are not worth the paper they are written on. This is because proving the terms of the agreement, absent a written document, is nearly impossible.

Also, once a business agreement is signed, we cannot get out of it. Hence, we can conclude that while entering any contract/ or business deal, there must always be a clear picture of the contract and its terms and conditions.

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How To Register Trademark In India Online

Registering a trademark is a crucial step in protecting your brand identity and intellectual property. In India, the process has become more accessible through online registration. This guide will walk you through the steps required to register a trademark in India, right from the comfort of your home or office.

Step 1: Determine Trademark Eligibility
Before you begin the registration process, you need to ensure that your proposed trademark is eligible. It should be distinctive and not identical or similar to existing trademarks. It shouldn't violate any Indian laws or offend any religious or cultural sentiments.

Step 2: Conduct a Trademark Search
To avoid potential conflicts and rejections, it's essential to conduct a thorough trademark search. The Indian government's online portal provides a database for searching existing trademarks. This will help you ensure that your trademark is unique and not already in use.

Step 3: Create an Account on the IP India Website
To start the online trademark registration process, you'll need to create an account on the Intellectual Property India website (http://www.ipindia.nic.in/). If you already have an account, you can simply log in.

Step 4: Fill Out the Trademark Application
Once you're logged in, you can fill out the application form. This form requires details about your trademark, its class, and your personal or business information. Be as accurate and detailed as possible when completing the form.

Step 5: Pay the Application Fee
After submitting the application form, you'll need to pay the requisite fee. The fee amount depends on the type of applicant (individual, startup, or company), the number of classes, and whether you're claiming priority under the Paris Convention.

Step 6: Application Review
After submission, the trademark office will review your application. They may ask for clarifications or additional documents. It's essential to monitor your application status regularly on the IP India website.

Step 7: Trademark Journal Publication
Once published, there's a 3-month window for objections. If no objections are raised, your trademark will proceed to registration.

Step 8: Trademark Registration
If there are no objections, your trademark will be registered, and a certificate of registration will be issued. You are now the legal owner of the registered trademark.

Step 9: Protect and Maintain Your Trademark
After registering your trademark, it's crucial to protect and maintain it. Trademarks in India are registered for ten years initially and can be renewed indefinitely. Be vigilant against infringement and misuse.

Registering a trademark in India online is a streamlined process, but it does require attention to detail and adherence to the legal requirements. By following the steps mentioned in this guide, you can protect your brand's identity and gain the legal rights to your trademark. Remember to consult with a legal professional or trademark agent if you have any doubts or questions during the registration process.

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Sixth Element Finserv’s Setup Services India to strengthen financial services market in Pune

Sixth Element Finserv’s Setup Services India (SSI) aims to develop a one-stop financial services solution for the next-gen entrepreneurs; it aims to facilitate business registration, compliance(s) management and advisory processes to be robust, transparent and cost-effective.

Headquartered in New Delhi, SSI has a profound professional network and in-house team of CAs, CSs, MBAs to ensure the efficiency and effectiveness of the services being delivered. The company says that the goal is to become an extensive KPO in the B2B arena and provide solutions to the new India. Talking about Pune’s scope of giving India new startups, Nishant Arora, founder, Setup Services India (SSI), said, “Pune is among the cities with largest youth population; the rapid urbanization has led to an influx of youths in the city, and 73 per cent of its total population is below 50 years of age. Therefore, we can easily say that Pune has an edge in the probability to give India the next-gen startups and making unicorns.

Pune has consistently ranked among the top-5 cities in software & IT startups. The 2000s saw many new startups in the software services and products space. The company says that it wants to strengthen the startup network in India by easing out the business processes.

Explaining the company’s role in the startup ecosystem in the city, Arora, said, “We provide end-to-end financial services to the startups looking for a head start in the Indian startup ecosystem. From incorporation to regulatory registrations like GST, MSME, IEC, we do it all. Post incorporation, we extend a plethora of services that can take care of compliances management, internal MIS development, project report preparation, agreements drafting and startup pitch deck preparation too.”

“In today’s time where consultants suggest startups to use online tools to streamline their day-to-day finances & compliance management, SSI is trying to shift the paradigm and promote the KPO culture in India so that they can outsource key financial and technical activities to agencies like SSI. It will help founders/ entrepreneurs focus on their core business activities and grow // instead of being tied up in managing their financial processes and wasting time on something that can be outsourced and managed with ease,” he adds.

SSI is all about next-gen startups’ requirements, i.e providing quality services under one roof to guarantee efficiency and effectiveness in an easy process. “Coming from a vast experience and handling an array of industries, the promoters, experts and counsel of consultants at SSI help new startups adapt the working flows, SOPs’, knowledge base & know-how enjoyed till date by only leading corporations which eventually pay like maybe 7 -10 figure pay packages to their CFOs,” he said.

The company says that it is trying to replace accounts dept and not the CA; SSI is introducing CRM in financial services so that startups feel secure while being associated with a consulting firm. The experts at SSI are pushing and promoting use of targeted MIS, reporting mechanisms & data analytics to help the entrepreneurs get the best info out of their day-to-day activities.

On the usability of future-oriented KPO culture in finance in a labour-intensive country like India, Arora said, “Corporate employee count of Uber India is in double digits, which should appeal the entrepreneurs on how such a small number of employees can manage big shows; this is possible if a company is effectively automated and outsource the activities that do not concern its day-to-day business.”

On the extent to which outsourcing of financial/ technical activities can be done in a company, Arora said, “Some large corporations in India have even outsourced their payment management systems where service providers manage the banking of clients and remit payments approved as per the set SOPs’. But, this info doesn’t come to the knowledge of the masses. SSI is trying to bring in the KPO culture so that India can be labour as well as technologically intensive at the same time.

Visit Us : https://www.setupservicesindia.com/

Corporate Restructuring

What Is Restructuring?

Restructuring is the corporate management term used for the act of reorganizing ownership, operational, legal, or other structures of a company for the need of making it more profitable and better developed, and organized.

What is corporate restructuring?

Corporate restructuring plays a vital role in the life of businesses and companies. Companies will pursue corporate restructuring strategies in response to their falling profits, changes in ownership, general market, changes in corporate strategy.

Corporate Restructuring is the process of reorganizing the structure of the organization to fetch more profits from its operations or is best suited to the present situation.

It is the most complex and fundamental phenomenon that management confronts.

Enhance the company’s performance ad profit: 

To eliminate the entire financial crisis and enhance the company’s performance this process of corporate restructuring is considered very important. Financial and legal experts are hired by the management of concerned corporate entities facing the financial crunches for advisory and assistance in the negotiation and the transaction deals. 

The concerned entity may look at operations reduction, debt financing, and any portion of the company. Change in the ownership structure of the company is due to the adverse economic conditions, takeover, merger, adverse changes in business such as buyouts, bankruptcy, over-employed personnel, lack of integration between the divisions, etc.

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