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All businesses operate within a legal framework, which is a veritable storehouse of laws, regulations and acts. For an entrepreneur setting up a business, it is very important to ensure that all legal aspects have been taken care of. All businesses in India are bound by some common acts that not only help the entrepreneur but also define the framework within which local authorities can be helpful to the business. Acts like the Company Act, Contract Act, Intellectual Properties Act, Industrial Disputes Act, etc. help a business in aspects such as formation of the company, powers and responsibilities of managers, maintaining accounts, protecting intellectual property and maintaining transparency in rules and policies, and many more.
SME Toolkit India, with the help of its partners, provides legal knowledge, the latest legal news in India and regular updates. These help a business owner stay well-informed about developments in the legal arena. News and updates are especially important if an entrepreneur aims to do business abroad. They advice the SME about the basic legal framework, the governing laws and regulations, rights and responsibilities, and challenges that one could face. This way, an SME is empowered and informed to eventually start and run a successful business.
Below are the legal updates on SME Toolkit India
- Legal Basics - Theft of confidential information and trade secrets can be just as damaging to your business as embezzlement or other employee fraud.
- Incorporation - If your business is not incorporated, you may want to form a board of advisors. An advisory board is more informal than a board of directors in that it generally does not have regular meetings, and even in larger companies advisory board members are often not compensated for their services.