When you are about to start a new business, you wonder whether or not you should set up a legal entity to develop that project.
Perhaps you ask here and there, and doubts increase when it is reported that to establish a legal entity such as a public limited company, you must spend on a lawyer, notary, and registration rights, and this is why company formation services in India are here for you.
Is it worth establishing a legal entity to develop a business idea? Yes, it is always better to lean towards the convenience of establishing a legal entity when developing a business.
Below are the reasons why it is recommended to establish a company or legal entity.
- Protection of personal assets against business assets and risks. By forming a legal entity, you can delimit which assets are subject to risk.
- Greater credibility and presence in the market. People prefer to do business with formally constituted companies due to a perception of permanence in time.
- Greater access to banking products and special credits for legal entities.
- Existence of tax advantages.
- Relative privacy will give you greater security.
The brand and all the elements that compose it serve to identify a company, a product, or a service. When you first start a business, you may not see the need to protect it through a registry and leave this task for later, for when things work out.
But that moment may already be late for several reasons, but above all, for two:
Businesses that generate good results are more attractive for others to copy and take similar names, which hurts the original brand.
If, when starting a business, it is analyzed if there are other similar brands, it can be modified without too many problems; on the other hand, if this analysis is done once everything is up and running, the costs can be high.
Once a brand is positioned among the public it is difficult to change it (you have to start almost from scratch).
WHAT IS IT FOR?
By registering a company with the help of company formation consultants in India, the owner obtains his ownership of the products and services covered and rights to use it exclusively, transfer his domain (free sale or assignment), give licenses for use to third parties, prevent others from using it without authorization, and ask the courts for the invalidity of other brands that may be confused with this one.
HOW IS THE PROCEDURE
Trademark registration can be done personally or through a manager (a specialized company). Although the personal procedure is cheaper, the company not only provides advice but can also help legally in case of problems with third parties who use the brand inappropriately.
The first step before registering a trademark is to see if it is available through the search engine. You have to do a broad search in the denomination to see if there is another brand that is similar, with similar letters, in singular or plural, and so on.
This content is meant for information only and should not be considered as an advice or legal opinion, or otherwise. AKGVG & Associates does not intend to advertise its services through this.
Posted by:
CS Neetu Saini
AKGVG & Associates