- March 4, 2019
- Posted by: filingfunda
- Category: Accounting
A brainchild that is in the first stage of its operations gives a kick start to the startup. These startups are often initially bankrolled by their entrepreneurial founders as they attempt to capitalize on developing a product or service for which they believe there is a demand.
In order to bring your brainchild into existence and to create a distinct entity out of it; you may opt to form a Partnership Firm, One Person Company, Limited Liability Partnership, or a Private Limited Company
Partnership is an agreement between two or more people to share the profits of a business. The business can be carried on together by all the partners or any one partner representing the others. A partnership can be for a fixed period of time or it may be limited to a specific project or it may be dissolved at will.
ONE PERSON COMPANY
OPC is a Company which has only one person as a member. OPC provides a whole new bracket of opportunities for those who look forward to start their own ventures with a structure of organised business. OPC will give the young businessman all benefits of a private limited company which categorically means they will have access to credits, bank loans, limited liability, legal protection for business, access to market etc all in the name of a separate legal entity.
LIMITED LIABILITY PARTNERSHIP
LLP is defined as partnership formed and registered under Limited Liability Partnership Act is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. The LLP can continue its existence irrespective of changes in partners. It is capable of entering into contracts and holding property in its own name. The LLP is a separate legal entity, is liable to the full extent of its assets but liability of the partners is limited to their agreed contribution in the LLP. Further, no partner is liable on account of the independent or un-authorized actions of other partners, thus individual partners are shielded from joint liability created by another partner’s wrongful business decisions or misconduct.
The Private Limited Entity is a type of organization which is characterized by the fact that ownership and management are separate. The capital of the Company is provided by a group of people called shareholder who entrust the management of the Company in the hands of persons known as Board of Directors. These are closely held businesses usually by family, friends and relatives. Private companies may issue stock and can have maximum of 200 shareholders. However, their shares do not trade on public exchanges and are not issued through an initial public offering.
SHOP ACT REGISTRATION
Once your brainchild gets its Own Name & Separate Legal Identity you shall get it registered under Shop Act; as starting a commercial establishment or a shop, you need to file for registration under the Act, within 30 days of commencement of the establishment.
MSME/UDYOG AADHAR REGISTRATION
MSME is the short form for Micro Small Medium Enterprises. The government has provided many benefits for micro, small and medium enterprises such as collateral free loan, subsidy of 50% on government fees on registration of trademark & Patent, Interest exemption on overdrafts, protection against delayed payments, and many more. In order to be eligible to get these benefits, any entity should register itself as MSME/SSI enterprise under MSMED Act.
ISO certification ensures that an organization runs its business using international standards for products, services and processes. These can include business management, environmental policies, or they can be standards that were developed by the ISO for specific business sectors.
Importer Exporter Code i.e. IEC is a license required by any enterprise for importing and/or exporting goods and services in and/or from India. Import Export Code is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India.
- FSSAI/FOOD LICENSE
FSSAI Registration is mandatory for every individuals or entity who are eligible for an FSSAI Registration or License. Anyone who is a Food Manufacturer, No matter what type of food is that, should obtain an FSSAI Registration.
Apart from manufacturer; Retailers who are actively involved in all types of Food Products, Business in Food transporting and Distributing, Importing & Exporting Food Products, Hotels, Caterers or Raw Material Suppliers, Trading or Wholesalers or Food businesses operator through ecommerce websites, Food Storage Units, Food Packaging Units are also eligible for FSSAI Certificate.
GET YOUR FSSAI/FOOD LICENSE NOW
PROTECT YOUR BRAINCHILD
A trademark is a word, phrase, symbol, and/or design that identifies and distinguishes the source of the goods of one party from those of others. It symbolizes the trust & quality of service or goods that you will deliver.
Copyright is a right given by the law to creators of literary, dramatic, musical and artistic works and producers of cinematograph films and sound recordings. In fact, it is a bundle of rights including, inter alia, rights of reproduction, communication to the public, adaptation and translation of the work. There could be slight variations in the composition of the rights depending on the work.
The passage experienced a surge in popularity during the 1960s when Letraset used it on their dry-transfer sheets, and again during the 90s as desktop publishers bundled the text with their software. Today it’s seen all around the web; on templates, websites, and stock designs.