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    This blog does not contain any legal advice whatsoever. This weblog is for informational purposes only, and its publication does not create any business relationship. This blog is the personal weblog of the Authors; not edited by the Author’s employers or clients and, as such, no part of this weblog may be so attributed. This blog will always strive to be unbiased in its reporting. Though posts on this blog are thoroughly scrutinized before posting but should be double-checked for their accuracy and current applicability. The brands and products mentioned herein are not owned by, or related to, the author and are discussed here for the purpose of reference and / or general information only.

M&A Review: Nokia Microsoft Deal & Smartphone Patents – Summary & Differences with Google Motorola Deal

Posted by techcorpgroup on September 28, 2013

Original article source: http://wp.me/p2PCVq-NM

Nokia Microsoft Deal & Smartphone Patents – Summary & Differences with Google Motorola Deal

Image representing Nokia as depicted in CrunchBase

Brief facts and analysis:

Amount paid by Microsoft to Nokia: $ 7.2 Billion / Є 5.44 Billion

Acquisition includes:

  • Nokia’s Devices & Services business
  • Mobile Phones and Smart Devices business units
  • Industry-leading design team
  • Operations: Nokia Devices & Services Production Facilities
  • Devices & Services-related sales and marketing activities
  • Related support functions

For detailed infographic, click here.

Timing of the move: quite sensible considering BlackBerry‘s uncertain future, implies Microsoft’s long term commitment towards Smartphones

Patent-related Aspects: Nokia has only licensed, not sold its patent portfolio

Image representing Microsoft as depicted in Cr...

Contrasting Differences with Google – Motorola Deal

  • Google acquired Motorola mainly for its patent portfolio
  • Google overpaid for Motorola’s 
  • At present, only one enforceable patent injunction against Apple in Germany
  • No injunction against Microsoft

Microsoft to pay Є 1.65 billion to license Nokia’s patents:

  • Boost for Nokia’s Patent Monetization Strategy
  • Microsoft to grant reciprocal rights to Nokia for using Microsoft patents in its location and mapping software
  • Nokia to grant an option to extend this mutual patent agreement in continuity to Microsoft
  • Nokia’s existing long-term patent licensing agreement with Qualcomm and other licensing agreements also licensed to Microsoft
  • Nokia is also licensing existing arrangements with IBM, Motorola Mobility and Motorola Solutions to Microsoft
  • Design Patents, which are generally not licensed to third parties, have been acquired by Microsoft, 8500 in total

Regulatory Issues: Deal is subject Antitrust Approval, and termination fee of USD 750 million will be paid by Microsoft to Nokia in case transaction fails, which in case of Google – Motorola deal was USD 2.5 billion, which was astronomically high probably concerned over antitrust approval

Microsoft has acquired Lumia & Asha brands

Microsoft to use Nokia brand on smartphones for 10 years

Nokia’s patent portfolio – one of the strongest in tech sectors

Overall, Nokia’s patent portfolio covers 30,000 utility patents + applications

Conclusion: Microsoft will have most cost effective patent arrangements for smart devices

Nokia’s future: they possess the largest and strongest intellectual property portfolio in the industry, with ~10,000 carefully selected patent families

Nokia has already established a successful patent and technology licensing operation, which will be expand to continue to drive revenue and profit for Nokia through the new Advanced Technologies business, as conveyed by Nokia’s Chairmain Risto Siilasmaa.

Nokia will also select a new CEO since current Chief Executive Stephen Elop will follow the mobile business to Microsoft.

English: Stephen Elop meets the bloggers in 20...

Impact of Nokia – Microsoft Deal on BlackBerry:

  • One obvious buyer of BlackBerry’s mobile division does not exist anymore.
  • Microsoft will not buy it BlackBerry – Google has quite different strategy from Apple – Samsung will be not interested at all.
  • Present categories of OS – divided among Google, Apple and Microsoft, BlackBerry’s OS is entirely different.
  • Impossible for any company to acquire BlackBerry as it will require abandonment of existing OS.

If you need business advisory services, you can refer to our Business Accelerator (TechCorpCapital), our law firm (TechCorpLegal) and our tech business consultancy (Tech Corp International Consultants, Singapore).

For technology specific advisory, you can refer to our premium service offerings for Mobile Applications, Social Media & Cyber Laws (CyberCorpLegal) and Pharmaceuticals, Biotechnology, Food & Healthcare (BioCorpLegal). 

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US Startups Law Update: SEC (Securities & Exchange Commission) Lifts Ban on General Solicitation

Posted by techcorpgroup on September 28, 2013

Article source: http://wp.me/p2PCVq-M7

 

US Startups Law Update: SEC (Securities & Exchange Commission) Lifts Ban on General Solicitation

In a major legal development in US for startups, the SEC lifted the ban on general solicitation for startups on July 10, 2013. However, the startups will not be able to raise money publicly at present as the new regulations will become effective afterwards, probably in September.

In addition, the SEC is presently working on new regulations that may include certain prohibitive restrictions for tech startups to raise money publicly.

Using Dormant Capital to Launch Businesses

Once these new regulations become effective, tech startups can use a wide variety of means to announce their fundraising intentions, which could very will help them launching businesses and not ditching the idea due to lack of funds.

In addition to conventional angel investors, funds could also be raised from a network of connected investors. This will definitely lead to utilization of a phenomenal amount of dormant capital amongst hundreds of thousands of potential investors.

General Solicitation

One of the advantages of General Solicitation is that it allows startups to publicly announce that they’re raising money, across multiple platforms, such as Social Media (LinkedIn, Twitter, Facebook), Websites, Blogs, TV advertisements, etc.

Once these proposed regulations become in force, the startups will be able to publicly announce that they’re raising money. However, money can only be received from accredited investors.

With regards to non-accredited investors, the new provisions are silent, which however was part of the intention of the JOBS Act (first signed into law in April 2012).

Accredited Investors

Under the Securities Act of 1933, a company that offers or sells its securities must register the securities with the SEC or find an exemption from the registration requirements. The Act provides companies with a number of exemptions. For some of the exemptions, such as rules 505 and 506 of Regulation D, a company may sell its securities to what are known as “accredited investors.”

The federal securities laws define the term accredited investor in Rule 501 of Regulation D as:

  1. a bank, insurance company, registered investment company, business development company, or small business investment company;

  2. an employee benefit plan, within the meaning of the Employee Retirement Income Security Act, if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5 million;

  3. a charitable organization, corporation, or partnership with assets exceeding $5 million;

  4. a director, executive officer, or general partner of the company selling the securities;

  5. a business in which all the equity owners are accredited investors;

  6. a natural person who has individual net worth, or joint net worth with the person’s spouse, that exceeds $1 million at the time of the purchase, excluding the value of the primary residence of such person;

  7. a natural person with income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year; or

  8. a trust with assets in excess of $5 million, not formed to acquire the securities offered, whose purchases a sophisticated person makes.

Further information regarding the SEC’s registration requirements and common exemptions may be found in the brochure, Q&A: Small Business & the SEC.

Raising money from accredited investors will require startups to be cautious and carefully scrutinize that their investors are accredited.

Additional Requirements

Regarding additional requirements for startups that will raise funds by general solicitation once these new regulations become effective, there are chances that these new regulations will be prohibitive in nature, exact details of which may become available soon. For example, such restrictions may require the startups to notify the SEC in advance prior to begin the process of general solicitation.

It shall also be noted that these new regulations will also be applicable to foreign companies that intend to raise money in the U.S., as they will be subject to the same requirements as a U.S. company.

Conclusion

Once these new provisions come into effect, even though with prohibitive restrictions, these will definitely prove to be a boon for startups, as they can look forward to sign deals beyond a limited group of traditional angel investors. 

To know more about us, get connected with us on LinkedIn or mail us at info [at] techcorplegal [dot] com

Visit our Tech Patents Blog homepage: http://www.techpatentstrategy.com

International Business & Management Company in Singapore: Starting a Business in Singapore: http://www.techcorpgroup.com/

Contributors: Prity Khastgir and Rahul Dev 

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Legal Guide for Startups | “Rebranding of FoodieBay to Zomato (Legal Action by eBay)” | Legal Mistakes to be Avoided by Startups

Posted by techcorpgroup on July 4, 2013

Originally published at our law firm blog, Tech Corp Research by Tech Corp Legal LLP: http://techcorplegal.com/Blog_Technology_Law_Business_Research/2013/07/02/law-for-startups/

Recently, our law firm’s partner Rahul Dev was invited to become a mentor at SMB Connect. After speaking at their Delhi event recently, he was really impressed by their initiative and agreed to their proposal.

So here is the first article as written by him and published by SMB. Feel free to leave your feedback in the comments section. 

Do You Make These 7 Legal Mistakes? Legal Guide & Tips for Startups

So, if you have recently started a new business after leaving your job, or you plan to do so in near future, following 7 legal mistakes should be avoided at all cost:

internet-audit-strategy-legal

1. Do Not Ignore Your Legal Docs, Read & Review Carefully

At any time during the course of employment, employees are bound by various legal documents, including, offer letter (letter of hire), employment agreement, and other agreements that the employee may have executed during the tenure of his job. All these documents should be carefully read and reviewed with a view to identify potential restrictions that will not allow the entrepreneur to launch a new business smoothly.

It is true that most of these legal agreements and documents are too long and boilerplate to read, so instead of ignoring these, you should hire a lawyer and ask him to explain all the relevant clauses and terms.

2. Do Not Disclose Confidential Information

As a common practice, all employees are bound by confidentiality obligations included in almost all the employment contracts. In accordance with such clauses, employees are required to maintain trade secrets and confidential information of the employer, and a disclosure of such trade secrets and confidential information without employer’s consent, or usage of  such trade secrets and confidential information without employer’s consent for launching (or running) a new business may result in legal action against the entrepreneur and / or the startup. In case you wish to use any such trade secrets and confidential information for your new business, getting employer’s consent in writing or obtaining a waiver of such clauses from the employer is highly advisable.

3. Do Not Compete Directly with the Employer

Among all the crucial provisions of an employment contract, Non-Compete clause is very important. Generally, such a provision prohibits the employees from starting a business that will compete directly with the employer.

Generally, employment agreements with Non-compete clauses (or separate Non-compete agreements) are time bound, and often extend for a specific time period after the employment ends, which may be anytime in between 1 year – 5 years.

With a view to ensure that non-compete clauses are not breached, the entrepreneurs and startups should first determine whether there exists a scenario of direct competition or not. Various factors that determine competition include, category of business, category of customers, use of knowledge or technology. If these factors turn out to be in conflict with the employer, it is better to address those concerns in advance before launching the business.

4. Do Not Infringe Intellectual Property Rights (IPR)

Issues related to assignment of IPR to employers and infringement of IPR by entrepreneurs and startups require utmost attention, as any lawsuit related to IP issues may easily run up to millions of dollars in damages, which can only be avoided by taking pre-emptive measures and following best practices.

All the employment agreements require the employees to assign all the intellectual property to the employer, wherein employee agrees that any work product, business idea, invention, or development conceived or authored by the employee during the course of employment will be legally owned by the employer. This may create serious issues when a new business launched by entrepreneur is any way related to, or dependent on, the work performed for the previous employer. Accordingly, such IP issues are crucial not only for entrepreneurs and startups, but also for potential investors, and investors always perform IP & Legal Due Diligence of a business to ensure that such issues will not arise. 

5. Do Not Solicit Previous Employer’s Customers & Employees

Most of the employment agreements also include provisions that restrict the employee to solicit employees, customers or vendors of the employer for a fixed period of time after the employment is terminated. However, in case you are leaving the job on a positive note with the employer, it is highly advisable to discuss such issues with employer in a transparent manner, make him aware of your business plans, and obtain the required waiver in writing. This approach generally works and as a general rule, it is always better to think a step ahead in case of potential legal issues and prevent litigation at a later stage.

6. Do Not Use Employer’s Resources for Your Business Idea

This is the most simple mistake made by lot of entrepreneurs while they are still employed, and this can easily snowball into a big legal hassle for startups and early stage companies. Many employees work on the new business during their working hours, use their work email to communicate with outsiders regarding their new business idea, use company’s laptop for planning a new business, which may be intentional or unintentional, but it may result in legal issues related to non-performance, as during such working hours, employees are expected (and paid) to perform work duties for the employer. Such mistakes can easily be traced later, as once employees leave, they leave behind a trail of data, including e-mails, documents, presentations, and other electronic evidence, that can easily be recovered to determine the extent of non-performance by the employees.

7. Do Not Use Conflicting Name for New Business

Well, this is one mistake every startup and entrepreneur should avoid. Everyone thinks passionately about naming their new business, but while doing so, due consideration should be given to the following two points:

(a) Unique & Novel: The name should be new and unique

(b) Non-conflicting: The name should be not conflicting with existing names

Mostly, all business names, brand names, logos and taglines are protected legally by way of trademarks, and in case of conflicting names, it might result in a trademark infringement suit.

A good example to highlight the importance of naming a business properly is that of Zomato, which was earlier named Foodiebay. As per this news article, Foodiebay was renamed as Zomato during last week of November 2010. It is interesting to note that on November 25, 2010, Ebay initiated legal proceedings against Foodiebay before Indian Trademark Office for opposition of trademark. As per the information available to general public, the legal proceedings are still pending while Foodiebay has been renamed to Zomato. Various public documents may be accessed by checking the status of trademark no. 1813054 at Indian Trademark office website: http://www.ipindia.nic.in/. Alternatively, a copy of legal notice of trademark opposition as filed by Ebay with the Indian Trademark Office may be accessed by clicking here.

Therefore, as may be observed from the above case study, selecting a unique business name and legally protecting it by way of trademarks is very important. In case a business involves multiple brands, a strong trademark strategy is crucial to manage them, and it is highly advisable to keep business name different from brand name. To read more about this, please click here.

In accordance with Indian Trademark Law, it is not mandatory to file for a trademark, but it is highly advisable to register a trade mark for the name of your business as well as for the brand names of your products and services. The registration of trademark provides legal right to prevent the unauthorized use of not only an identical or confusingly similar trade mark, but also an identical or confusingly similar company name, trading name and domain name. Accordingly, it is highly advisable to seek assistance from a Trademark Attorney.

Rahul Dev

Partner, Tech Corp Legal LLP

To know more about us, get connected with us on LinkedIn or mail us at info [at] techcorplegal [dot] com

Visit our Tech Patents Blog homepage: http://www.techpatentstrategy.com

International Business & Management Company in Singapore: Starting a Business in Singapore: http://www.techcorpgroup.com/

Contributors: Prity Khastgir and Rahul Dev 

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Starting a New Business in Singapore | Singapore Business Guide

Tech Corp International Consultants Pte. Ltd. is a Singapore based business consultancy company focusing on at entrepreneurs who are exploring to start a new business by incorporating a company in Singapore. Through a strong network of our business associates in Singapore, we provide a diverse range of services, including, Singapore company incorporation, accounting, tax, immigration and related compliance services. We assist our clients in incorporation of local Singapore companies, Singapore subsidiaries of foreign corporations and registration of Singapore branch offices of overseas companies, statutory administration of companies, accounting and tax filing for companies and individuals, application for work passes and permanent residence for expatriates, application for business licenses, and related corporate services.

International Technology Business & Patent Law Firm in India: Patent Drafting, Patent Searching, Patent Filing in India, PCT National Phase Filings in India: http://www.techcorplegal.com/

Our Business Law Services: Company & Individual Representation, Business Litigation & Corporate Law, Business formation & Review of Business Formation Documents, Cyberlaw, New Media, & Internet/Technology, Entertainment, Sports, & Media, Contract Negotiation, Review, & Drafting, Intellectual Property (“IP”), Real Estate Transactions and Landlord/Tenant Disputes, Employment Law, Securities, Mortgage, Banking & Finance, Mergers & Acquisitions, Legal Malpractice / Ethics Violations / Company Policies / Website Terms & Conditions, Brand Identity & Positioning, Brand and Intellectual Property Licensing and Development, Compliance, Preparation of Business Plans, Business Process, Efficiency Consulting, & Outsourcing, Investment & Strategic Ventures, Project Finance & Management, Competitive Landscape Analysis, Right Time to Incorporate a Legal Entity, Finance, Funding & Venture Capital, Type of Entity: Company vs. Partnership vs. Sole Proprietorship, Right Location (Jurisdiction) to Incorporate a Company, Company Incorporation in India, Partnership, Sole Proprietorship & LLP in India, Setting up Liaison / Representative / Branch/ Project Office in India, Franchising in India, Licensing in India, Retail in India, Things to do Before Quitting a Job and Starting a Business, Selecting a Business Name, Branding & Trademarks, Shareholders & Stock Options, Tax Planning & Management, Employees, Interns, Human Resource (HR) Management & Labor Laws, Joint Ventures, Corporate Restructuring, Mergers & Acquisitions, Commercial Disputes, Litigation & Arbitration, Foreign Direct Investment & Foreign Exchange Regulations in India

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Indian Startup & SME Update: Recent SEBI Guidelines for Angel Investments, Buy-Back Norms & Listing Of Start-Ups & SMEs on Institutional Trading Platform (ITP) Without IPO

Posted by techcorpgroup on June 27, 2013

Original article: http://techcorplegal.com/Blog_Technology_Law_Business_Research/2013/06/26/sebi-guidelines-angel-investments/

The Securities and Exchange Board of India (SEBI) has recently issued fresh guidelines related to Angel Investments, buy-back through open market purchase and Listing of Start-Ups and SMEs on Institutional Trading Platform (ITP) without having to make an IPO.

Angel_Investments_India

1. Amendments to SEBI (Buy Back of Securities) Regulations, 1998 governing buy-back through open market purchase

With a view to safeguard the interest of public shareholders, SEBI has approved making it mandatory for the companies to buyback at least 50 percent of their repurchase offers. In addition to this, the companies are required complete their buyback offers within six months, a period which is presently 12 months. Those companies unable to meet the target would be barred from launching another offer for a period of one year.

The proposed guidelines also make it mandatory for the companies to keep 25 percent of the proposed buyback offer amount in an escrow account, a move that is proposed to prevent the companies from making non-serious offers that could wrongly influence the share prices.

2. Guidelines for Angel Funds: Amendments to SEBI (Alternative Investment Funds) Regulations, 2012

Subsequent to Union Finance Minister P. Chidambaram’s announcement in the Union Budget 2013-14, SEBI has issued guidelines for angel investor pools to be recognized as Category I AIF (Alternative Investment Funds) Venture Capital Funds.

In accordance with the SEBI Alternative Investment Fund (AIF) regulation, which allows pools of capital to be used in India for investments, Venture Capital Funds (VCFs) are included in Category.

Now, an angel fund will be a sub-category under the definition of VCFs.

The minimum investment amount for AIF investors, including VCFs, is at least Rs. 1 Crore or Rs. 10 Million (aprox. 165000 USD) for each investor.

For Angel funds, the requirement per investor is Rs. 25 lakh or Rs. 2.5 Million, which can be spread over three years, and the ticket size should not less than Rs. 50 lakh and not more than Rs. 5 crore. Such investments can only be done in a company incorporated in India having a turnover of less than Rs. 25 crore. Further, the company should be unlisted and should not be sponsored. It should not belong to an industrial group that has a turnover of more than Rs. 300 crore.

Angel Investment Criteria

For Individual Angel Investor:

  • Early stage investment experience, or
  • Been a serial entrepreneur, or
  • Had 10 years experience as a senior management executive, and
  • Has Rs. 2 crore worth of tangible assets.

For Companies that want to become Angel investors:

  • Rs. 10 Crore or Rs. 100 million net worth

The Implications

For individuals who are unable to meet this criteria, it is advisable to invest on their own without creating a SEBI regulated regulated AIF entity (Venture fund). With a view to manage issues related to taxation, investment can be done by way of convertible debt, which acts as a loan that can be converted to debt.

3. Enabling Listing of Start-Ups and SMEs on Institutional Trading Platform (ITP) without having to make an IPO

Considering a lack of exit opportunities for the existing investors and restricted access to new investors, and with a view to provide easier exit options for informed investors (Angel Investors, VCFs, PE), SEBI approved the proposal to amend the SEBI (ICDR) Regulations to permit listing of Start-ups and SMEs in Institutional Trading platform (ITP) without having to make an IPO.

According to SEBI, such companies eligible to be listed on this ‘Institutional Trading Platform’ shall be accessible for investment to the informed investors only.

Accordingly, the minimum amount for trading or investment on the ITP will be Rs 10 lakh. These companies shall be exempted from the requirements of rule 19(2)(b) of SC(R)R 1957 under which companies have to offer upto 25% of its shareholding to public through an offer document in order to get listed.

Hence, the listing can be done without an IPO and the expenses associated with it. While such companies are listed on the ITP, they will not be permitted to raise capital though they can continue to make private placements.

This provides various advantages, as listing on ITP by Start-Ups and SMEs is expected to offer their existing investors better chances to find alternate buyers.

SEBI also stated that standardized norms of entry for companies, eligibility criteria, continuous disclosure requirements, simplified exit rules and corporate governance norms will be prescribed.

To know more about us, get connected with us on LinkedIn or mail us at info [at] techcorplegal [dot] com

Visit our Tech Patents Blog homepage: http://www.techpatentstrategy.com

International Business & Management Company in Singapore: Starting a Business in Singapore: http://www.techcorpgroup.com/

Contributors: Prity Khastgir and Rahul Dev 

We regularly update our Facebook page and share similar stories on Twitter. You can also check out our premium service offerings for Mobile Applications, Social Media & Cyber Laws and Pharmaceuticals, Biotechnology, Food & Healthcare

Patent Licensing: We assist in patent licensing by developing licensing strategies, managing licensing programs, applying required technical expertise for patent evaluation and reverse engineering, negotiating patent licensing terms, thereby bridging the gap between technological innovations and commercial markets.

Patent Marketing: We plan and execute market investigation strategies, analyze patents, conduct patent searches for potential marketability, explore market applications, market analysis, developing commercialization strategy, targeting potential licensees, planning and proposing key contract terms.

Technology Review: We review latest technology products, startups, new Internet products, digital innovations, tech news and aim to provide a quality resource to start-up companies, investors, technology companies and transactions.

Funding & Investments: We make small investments, provide mentoring, consultancy, premier legal and accounting services, access to capital and work with the entrepreneurs to get their venture into the best possible shape for pitching to investors.

Starting a New Business in Singapore | Singapore Business Guide

Tech Corp International Consultants Pte. Ltd. is a Singapore based business consultancy company focusing on at entrepreneurs who are exploring to start a new business by incorporating a company in Singapore. Through a strong network of our business associates in Singapore, we provide a diverse range of services, including, Singapore company incorporation, accounting, tax, immigration and related compliance services. We assist our clients in incorporation of local Singapore companies, Singapore subsidiaries of foreign corporations and registration of Singapore branch offices of overseas companies, statutory administration of companies, accounting and tax filing for companies and individuals, application for work passes and permanent residence for expatriates, application for business licenses, and related corporate services.

International Technology Business & Patent Law Firm in India: Patent Drafting, Patent Searching, Patent Filing in India, PCT National Phase Filings in India: http://www.techcorplegal.com/

Our Business Law Services: Company & Individual Representation, Business Litigation & Corporate Law, Business formation & Review of Business Formation Documents, Cyberlaw, New Media, & Internet/Technology, Entertainment, Sports, & Media, Contract Negotiation, Review, & Drafting, Intellectual Property (“IP”), Real Estate Transactions and Landlord/Tenant Disputes, Employment Law, Securities, Mortgage, Banking & Finance, Mergers & Acquisitions, Legal Malpractice / Ethics Violations / Company Policies / Website Terms & Conditions, Brand Identity & Positioning, Brand and Intellectual Property Licensing and Development, Compliance, Preparation of Business Plans, Business Process, Efficiency Consulting, & Outsourcing, Investment & Strategic Ventures, Project Finance & Management, Competitive Landscape Analysis, Right Time to Incorporate a Legal Entity, Finance, Funding & Venture Capital, Type of Entity: Company vs. Partnership vs. Sole Proprietorship, Right Location (Jurisdiction) to Incorporate a Company, Company Incorporation in India, Partnership, Sole Proprietorship & LLP in India, Setting up Liaison / Representative / Branch/ Project Office in India, Franchising in India, Licensing in India, Retail in India, Things to do Before Quitting a Job and Starting a Business, Selecting a Business Name, Branding & Trademarks, Shareholders & Stock Options, Tax Planning & Management, Employees, Interns, Human Resource (HR) Management & Labor Laws, Joint Ventures, Corporate Restructuring, Mergers & Acquisitions, Commercial Disputes, Litigation & Arbitration, Foreign Direct Investment & Foreign Exchange Regulations in India

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Singapore’s Personal Data Protection Act (PDPA) 2012 & Cloud Control | Mobile Applications & Mobile App Development in Singapore

Posted by Rahul Dev on January 24, 2013

Source: http://bit.ly/Ypigo6

A software program that can be downloaded and accessed directly using a phone or amobiledevice, like a tablet, is generally known as Mobile Application (orMobile App). From the perspective of mobile app developers, mobile applications form an important part of the booming mobile segment, which has gained tremendous momentum due to ever increasing sophistication of mobile devices and improving capabilities of wireless networks.

The first and foremost requirement before developing a mobile app is to have a viable concept in place, which may be a total game changer with unique and novel characteristics, or an enhancement / improvement over existing apps that adds more features and makes them more user friendly. Accordingly, while finalizing the concept, a lot of research is required to analyse existing apps to ensure the novelty and utility of the proposed app.

Another factor that is required to be considered before developing an app ismobile app monetization, i.e. whether the app will be a free app, a paid app, or a combination of both (freemium app). Generally, a freemium app provides a product or service, such as software, media, games or web services, free of charge, but a premium is charged for advanced features, functionality, or virtual goods. To read more about freemium model, you can refer to thisTechCrunch’s post.

Deciding the right platform to launch the mobile app is very crucial. The major platforms include Apple, Android, Windows Mobile and Blackberry. Each of these comes as a package with its own advantages and limitations that may be understood in detail by analysing the respective Software Development Kits (SDKs).

After developing a mobile app based on above-mentioned parameters and other related considerations, issues related to data privacy and cloud control may arise and it is always advisable to resolve those at the earliest. Generally, such issues involve understanding of legal and regulatory policies, which vary for each jurisdiction. Hiring alegal consultant with adequate knowledge of cyber lawsis always advisable.

In Asia,Singaporeis the best place to study future ofmobilemarketing and commerce, which significantly define monetization of mobile apps. According to aSingapore Mobile App study, Singapore M commerce is expected to be worth S$3Billion by 2015. Currently half of all online shoppers are mobile shoppers, according to a Forrester survey and that is growing exponentially. Almost a millionSingaporeansmade a purchase through a mobile device in 2011 according to the survey and that number has grown dramatically in 2012. Interestingly Singaporeans spent a third more from their tablets than they do on their mobile and they spend on more luxurious items on their tablets such astechnologyand cars.

Usage of most of themobile appsinvolve mining of information, including personal data of users as many apps are designed to retrieve information stored onmobiledevices, which may include location based data, photos, contact information, and the like. Such information is then sent to remote servers located at a different location, which is generally referred to as ‘cloud computing’, with a view to provide multiple services to the users, such as, mobile commerce, storage, gaming, social media, and the like.

From legal perspective, it becomes very important for the companies andapp developersto consider the type of information that is being procured, stored, and managed by various mobile apps as well as how such information is handled by the application programming interface (API). Accordingly, mobile apps certainly fall under the purview of data privacy laws. One such law has been introduced inSingapore, known as Singapore’s Personal Data Protection Act 2012 (“PDPA”).

The Personal Data Protection Act 2012 of Singapore is aimed at protecting individual’s personal data against misuse. It provides provisions for a national Do-Not-Call registry and a new enforcement agency will be tasked to regulate the management of personal data by businesses and impose financial penalties.

Generally, personal data is defined as data that relates to an individual, whether the data is stored in electronic or non-electronic form. The Personal Data Protection Act 2012 of Singapore is further aimed at providing individuals more control over their personal data, as they have to give consent and be informed of the purposes for which organizations collect, use, or disclose the information. In addition, the individuals may also seek compensation for damages directly suffered from a breach of the data protection rules through private rights of action.

With a view to tackle the issue of unsolicited telemarketing calls and messages, a National Do-Not-Call (DNC) Registry will be created by early 2014 inSingapore. The registry prohibits organizations in Singapore from sending specified messages to any Singapore telephone number registered with the DNC, unless the owner of the telephone number has given consent to be contacted for marketing purposes. Additionally, a Personal Data Protection Commission (PDPC) will also be set up to serve as the country’s main authority on matters relating to personal data protection and enforce data protection rules. If an organization is non-compliant, the PDPC may impose a maximum financial penalty of S$1 million (US$818,150). The full copy ofThe Personal Data Protection Act 2012 of Singapore may be accessed here.

The act comes into effect in 2013, with an 18 month sunrise period for organisations to comply with data protection requirements. Mobile app developers and owners should now consider implication of data protection laws at the early stages of development, so that there are no legal hassles at the time of scaling up and monetizing apps, seeking funding and launching global operations.

As the Personal Data Protection Act 2012 of Singapore governs the collection, use and disclosure of “personal data” by organisations, it should be ensured that what exactly includes personal data as most mobile apps collect information from users, but not all the mobile apps collect personal data. As per Section 2 PDPA, “Personal data” means “data, whether true or not, about an individual who can be identified – (a) from that data; or (b) from that data and other information to which the organisation has or is likely to have access”. In case of apps utilizing crowd-sourced data, including location-based data and user-generated content, some of the information may constitute personal data.

Moreover, as per PDPA, consent is required before the collection, use or disclosure of personal data. However, there are exceptions where no consent is required. For example, one exception is that no consent is required for the collection, use and disclosure of personal data which is publicly available. Such publicly available information may include data available over various public websites, blogs and social networks.

Jurisdiction wise, the provisions of PDPA may be applicable to mobile app development companies operating outside of Singapore, as the PDPA applies to private sector organisations whether or not formed, resident or having an office or place of business in Singapore. It also applies to individuals who are using the data other than for domestic or personal use. Accordingly, the PDPA would be applicable to mobile app developers and owners who offer their apps to the Singapore market through the Singapore Apple App store, the Google Play store, the Blackberry World, or the Microsoft’s Windows App store.

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Touch Patent Analysis | Panasonic Lets You Edit Photos on TV with Touch Pen #2013CES | Panasonic’s TOUCH SCREEN DEVICE P atent

Posted by Rahul Dev on January 8, 2013

Source: http://techcorpgroup.com/Singapore/panasonic-lets-you-edit-photos-on-tv-with-touch-pen-2013ces-panasonics-touch-screen-device-patent/

Panasonic Lets You Edit Photos on TV with Touch Pen #2013CES | Panasonic’s TOUCH SCREEN DEVICE Patent

As published byMashable, at 2013CES, Panasonic showed off a new vision of the second screen, introducing new ways your phone or tablet can interact with what you’re watching on TV. In short, Panasonic revealed a new accessory called the Touch Pen that lets you edit photos right on the screen, and then immediately push them to a mobile device.

In the case of photos, the users can actually edit them and by using a Touch Pen, users can write notes or draw pictures on the screen with the Pen, assisted by a pull-down menu that appears when the pen touches the TV. Those edited pictures can then be pulled back down to any mobile device.

In addition Swipe and Share 2.0, Panasonic is enhancing its second-screen experience through partnerships with HSN, which has developed a app called Shop by Remote, which lets users get detailed product information and read customer reviews of whatever they’re checking out on the channel.

Panasonic’s TOUCH SCREEN DEVICE Patent

Titled “TOUCH SCREEN DEVICE”, United States Patent Application 20120293453Panasonic’s patent was filed on 05/03/2012 and was published on 11/22/2012, and it relates to a touch screen device that determines whether a pointing device for a touch operation is a pen or a finger.

It may be noted that this patent may not be exactly related to the latest technology revealed by Panasonic, but still acts as a reference to study the patent filing trends.

As may be seen therein, the touch screen device 1 includes a panel body 5, which is provided with a touch surface 2, on which a touch operation by a pen P or a finger F is performed, and in which a plurality of transmitting electrodes 3 extending in parallel to one another and a plurality of receiving electrodes 4 extending in parallel to one another are arranged in a grid pattern; a transmitter 6 that applies a drive signal to the transmitting electrodes 3; a receiver 7 that receives a response signal of the receiving electrodes 4 in response to the drive signal applied to the transmitting electrodes 3, and outputs detection data of each electrode intersection, at which the transmitting electrode 3 intersects with the receiving electrode 4; and a controller 8 that detects a touch position based on the detection data output from the receiver 7, and controls operations of the transmitter 6 and the receiver 7.

Additionally, the touch screen device 1, combined with a large screen device, is used as an interactive white board, which can be used in a presentation or a lecture. In particular, in this embodiment, the touch screen device 1 is used in combination with a projector device 10, and a touch surface 2 of the touch body 5 is used as a screen that displays a projection image of the projector device 10.

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To know more about us, get connected with us on LinkedIn or mail us at info [at] techcorplegal [dot] com

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Tech Corp International Consultants Pte. Ltd. is a Singapore based business consultancy company focusing on at entrepreneurs who are exploring to start a new business by incorporating a company in Singapore. Through a strong network of our business associates in Singapore, we provide a diverse range of services, including, Singapore company incorporation, accounting, tax, immigration and related compliance services. We assist our clients in incorporation of local Singapore companies, Singapore subsidiaries of foreign corporations and registration of Singapore branch offices of overseas companies, statutory administration of companies, accounting and tax filing for companies and individuals, application for work passes and permanent residence for expatriates, application for business licenses, and related corporate services.

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LG’s 55-inch OLED HD TV at CES 2013, Las Vegas #2013CES | Analysis of OLED Patents owned by LG

Posted by Rahul Dev on January 8, 2013

Article Source: http://techcorpgroup.com/Singapore/lgs-55-inch-oled-hd-tv-at-ces-2013-las-vegas-2013ces-analysis-of-oled-patents-owned-by-lg/

LG’s 55-inch OLED HD TV at CES 2013, Las Vegas #2013CES | Analysis of OLED Patents owned by LG

LG has recently announced at CES in Las Vegas that it would launch the long-awaited OLED TV into the U.S. market this March, for a suggested retail price of $12,000.

In addition to OLED, LG also announced it will expand its line of Ultra HD TV sets with two more sizes: 65-inch and 55-inch sets. They join an 84-inch, $20,000 model that launched in 2012. However, LG didn’t announce pricing or availability of the new Ultra HD models, which display images with four times more detail than the standard high-definition TVs.

Generally, an OLED TV screen’s design is based on a new display technology called OLED (Organic Light Emitting Diodes). OLED televisions provide multiple advantages, such as, for example, more brightness, more efficiency, thinner screens, better refresh rates and contrast as compared to either LCD or Plasma.

The manufacturing process of OLEDs includes placing thin films of organic (carbon based) materials between two conductors. Accordingly, when electrical current is applied, a bright light is emitted. Subsequently, the OLED materials emit light and do not require a backlight (unlike LCDs). As a matter of fact, each pixel is a small light-emitting diode.

In addition to the above, OLED TV panels offers several advantages over LCDs, such as, faster refresh rate, better contrast and better color reproduction. In terms of thickness, LG’s EL9500 is just 1.7mm thick. It also provides much better viewing angle of almost 180 degrees. In terms of power consumption, moving towards greener segment, OLEDs draw less power, and also do not contain any bad metals. Another advantage is that OLED panels can potentially be made flexible and/or transparent.

Patent Trends

Although it is a well known fact that Samsung and LG make Korea one of the top 5 countries that file for patent applications, a quick search at USPTO revealed that there exists almost 50 patents (both granted and pending) assigned to LG having OLED mentioned in the abstract. This may not provide an accurate analysis but still act as a reference to study the patent filing trends.

Among these granted patents and published patent applications, a few has been randomly selected and briefly analysed below.

United States Patent 8330675 – Organic light emitting display

Filed on 07/21/2009, this patent relates to an organic light emitting diode (OLED) display that includes a panel, a driving unit, and a sense unit. The panel includes subpixels, disposed on a first substrate, and electrode patterns disposed on one side of a second substrate. The first substrate and the second substrate are attached to each other, and the electrode patterns are disposed on a side of the second substrate that is facing the first substrate.

As seen therein, FIG. 4 illustrates an exemplary view of an electrode patterns having a two-dimensional dual-layer structure, and the electrode patterns may have a structure in which the electrode patterns are divided into Y-axis electrode patterns Y0, Y1, Y2, and Y3 and X-axis electrode patterns X0, X1, X2, and X3 both of which are disposed in different layers. For example, as seen above, FIG. 4 is a diagram showing that the Y-axis electrode patterns Y0, Y1, Y2, and Y3 and the X-axis electrode patterns X0, X1, X2, and X3 are arranged in a diamond form. As per the disclosure, in this structure, when a user touches a point A0, the sense unit TSC can detect a change in the capacitance, caused by the area of Y0 and the area of X0, through the electrode patterns located in the touched area.

Accordingly, the sense unit TSC can detect capacitance, changed according to the touch points A0, A1, A2, and A3 by a user, through the electrode patterns. Here, the above-described electrode patterns may have a different structure according to their positions. Accordingly, the sense unit TSC may convert data, input in the form of an analog signal, into a digital signal in order to use the change in the capacitance acquired from the electrode patterns.

Also, FIG. 5 is a diagram showing the structure of a panel that comprises subpixels, disposed on one side of a first substrate 100a, and lower electrode patterns 161 disposed on one side of a second substrate 100b (i.e., a side facing the subpixels). The first substrate 100a and the second substrate 100b are coalesced together and sealed by an adhesive member 180. Meanwhile, the lower electrode patterns 161 are coupled to the sense unit as described above. Further, the lower electrode patterns 161 may be divided in plural numbers in respective lines corresponding to the subpixels, but not limited thereto. Here, the panel may comprise a protection layer 190 disposed on the other side of the second substrate 100b. The protection layer 190 may be made of a polarizing film, but not limited thereto. In the case where the lower electrode patterns 161 are disposed on one side of the second substrate 100b as described above, a buffer layer 155 made of organic material or an insulating film may be formed on an upper electrode 150 in order to prevent short between the lower electrode patterns 161 and the upper electrode 150. In this case, the buffer layer 155 may be omitted.

This patent further discloses that the OLED device according to the embodiments of the invention may have a function of the touch screen panel using the electrode patterns on the panel. Furthermore, in the OLED device according to the embodiments of the invention, because the electrode patterns driven in a capacitance manner and the panel form an integral body, a function of the touch screen panel capable of performing the multi-touch operation may be provided so as to reduce the manufacturing cost.

United States Patent 7932916 – Organic light emitting diode device capable of decreasing data procesing capacity and timing controller suitable for the same

Filed on 05/03/2005, this patent relates to an organic light emitting diode (OLED) device, and a method for driving the same, in which image data is processed by Frame Rate Control (FRC) and dithering, so that it is possible to decrease data processing capacity, area of drive IC, and power consumption.

As shown therein, FIG. illustrates the OLED device according to the present invention including an OLED (or OELD) panel 200, a gate drive unit 203, a data drive unit 205, and a timing controller 210, all operatively coupled. At this time, the gate drive unit 203 and the data drive unit 205 respectively apply driving signals to gate and data lines formed on the OLED panel 200. Also, the timing controller 210 controls the gate drive unit 203 and the data drive unit 205.

Also, the timing controller 210 receives RGB image data of n-bit, and synchronized signals HSYNC and VSYNC and clock signals DE and MCLK for displaying the corresponding RGB image data from a graphic source, e.g., from an external system. Then, the timing controller 210 performs gamma correction, color compensation, FRC (Frame Rate Control), and dithering, and outputs the compensated RGB data of n′-bit (n′=n or n′=n+1) to the data drive unit 205.

In the OLED device and the method for driving the same according to this patent, the FRC and dithering process is performed for the gamma correction, whereby the data processing capacity and the area of the drive IC decrease, thereby decreasing the power consumption.

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Tech Corp International Consultants Pte. Ltd. is a Singapore based business consultancy company focusing on at entrepreneurs who are exploring to start a new business by incorporating a company in Singapore. Through a strong network of our business associates in Singapore, we provide a diverse range of services, including, Singapore company incorporation, accounting, tax, immigration and related compliance services. We assist our clients in incorporation of local Singapore companies, Singapore subsidiaries of foreign corporations and registration of Singapore branch offices of overseas companies, statutory administration of companies, accounting and tax filing for companies and individuals, application for work passes and permanent residence for expatriates, application for business licenses, and related corporate services.

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iPhone Mobile App Analysis: iPhone 5’s and iOS 6’s Passbook App | Overview of Passbook Patent | Apple’s iWallet | Mobile Payment Patent Trends

Posted by Rahul Dev on January 7, 2013

Article Source: http://techcorpgroup.com/Singapore/iphone-5s-and-ios-6s-passbook-app-overview-of-passbook-patent-apples-iwallet-mobile-payment-patent-trends/

iPhone 5’s and iOS 6’s Passbook App | Overview of Passbook Patent | Apple’s iWallet | Mobile Payment Patent Trends

When Apple announced iOS 6 and iPhone 5 in 2012, among all the features revealed, the Passbook app is one of the most relevant features for potential marketing. In simpler terms, it’s a digital wallet meant to compete directly withGoogle Wallet, which is Google’s smart, virtual wallet for in-store and online shopping.

For example, it may be possible for merchants to code Passbook offers and deliver them via email, Web or within their brand apps. Subsequently, such Passbook items (coupons, discounts, etc.) can be associated with up to 10 locations via latitude and longitude coordinates, which can provide Passbook with the ability to offer reminders on a user’s home screen, similar to push notifications, that an item in his or her Passbook is available for redemption (e.g., coupon) when the user’s location is in the vicinity of those designated coordinates.

For marketers, specifically consumer firms and deals companies, the Passbook app may boost the adoption and importance of real-time, geo-contextual mobile marketing. Additionally, with the increase in length of the iPhone 5 screen, which is 176 pixels taller than the iPhone’s previous versions, marketers have now got an extra real estate for mobile display ads and landing pages, as it will reduce mis-clicks and increase interaction with an ad.

Apple’s Passbook patent (US 20120323664) disclosessystems, methods, and non-transitory computer-readable storage media for managing and redeeming electronic coupons on a mobile device. As per the disclosure, the invention may also cause a mobile device to generate an alert when it is at or in the vicinity of a location such as a retail store where an electronic coupon held by the mobile device may be redeemed. An alert may also be caused when the mobile device is used in a sales transaction at the location. The electronic coupons may be redeemed in a number of ways including scanning an image displayed on the mobile device, communicating with a wireless network, or through an integrated near field payment system offered by the location.

As may be seen therein, Apple’s patent FIG. 4 illustrates an exemplary embodiment of a paper coupon being entered into the user’s coupon wallet, FIG. 5 illustrates an exemplary coupon wallet graphical interface, while FIG. 6 illustrates an exemplary coupon reminder on a mobile device, and FIG. 7 illustrates an exemplary coupon stored in the user’s coupon wallet.

Earlier also, on 08/07/2012, Apple was granted apatent (United States Patent 8239276) for an iWallet related technology, which termed the application as “Shopping”. As per the contents of the patent, various shopping related transactions may be performed on an iPhone or any similar device. Some embodiments may be employed to identify a product and obtain pricing information relevant to retailers of the product within a specified geographical location. In another embodiment, an iPhone may be used to acquire pricing information for a shopping list of products.

This patent related to Apple’s "Shopping" app discloses that it may be advantageous to provide a system and method that allows consumers to quickly and easily obtain highly relevant shopping data, while also allowing retailers and manufacturers to send targeted advertising or other relevant product data to interested consumers. More specifically, it may be advantageous to provide a system and method of using an iPhone to distribute and receive shopping-related information.

As per the disclosure, various embodiments may also include a variety of features that make the shopping experience quick and efficient while allowing the consumer to hunt for a better bargain. Furthermore, several embodiments also allow the product manufacturers and/or retailers to distribute relevant product information to targeted consumers who are known to be, or who may be, interested in buying a particular product.

Mobile Apps and Patent Strategy

In light of the above examples of Apple’s patents and other similar patents filed by Apple and its competitors, it can be rightly said that patents are always a good strategic element for a mobile and web-based business, and the patent applications should always be planned and structured to best control the patents in the technology portfolio. Accordingly, devising a patent application strategy is always beneficial for startups and small businesses.

Generally, invention monetization strategies include licensing or sale of the technology, wherein the inventor conceptualizes the idea and may develop a prototype, and further protects the idea by way of one or more patents covering the various elements of the invention. Thereafter, the inventor can license or sell the patents to a company, which commercializes the invention.

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Doing Business in India | India Business Entity Types | India Business Guide

Posted by Rahul Dev on January 3, 2013

Article Source: http://techcorplegal.com/Blog_Technology_Law_Business_Research/2013/01/03/doing-business-in-india-india-business-entity-types-india-business-guide/

Doing Business in India | India Business Entity Types | India Business Guide

India at present is one of the fastest growing economies in the world. Globalization and liberalization have been facilitating the growth of India. Following is a tour of different business entities in India, their overview, advantages and disadvantages as well.

The business entities allowed by Indian Law are –

1. Proprietorship

2. Private Limited company

3. Public Limited Company

4. Limited Liability Partnership

5. Partnership firm

In addition to these entities, there are types of entities available for foreign investors having business in India –

1. Representative Office

2. Project Office

3. Branch Office

4. Joint Venture Company

5. Wholly Owned Subsidiary Company

PROPRIETORSHIP

In India, proprietorship is the most ancient form of business entity. Though it is the easiest form to set up but it is not suitable for each business type. Proprietorship does not need a formal registration but trade related licenses are necessary to obtain. This business entity returns with a limited growth by involving small risk, small growth and small capital. In comparison with other entities, this business provides less hardship on the owner and he is solely responsible of the authority. There are no laws differences between the business and its owner, both go hand in hand. This business is preferred among small traders like tailors, artists or even freelancers.

The major disadvantage of proprietorship is it has a limited growth, so it is less attractive to the investors or to the creditors.

PRIVATE LIMITED COMPANY

The companies act, 1956 defines the sustenance of the Private Limited Company. A Private Limited Company needs to get itself registered with Registrar of Companies (ROC). ROCs are located all over the country in different states and provinces, ones a business started in one state can be carried out all over India. The minimum funds required to get the company registered is INR 100,000. It might get increased at the time of additional stamp duty. A minimum of two members or maximum of 50 members as its shareholders are required by a Private Limited Company. The number of directors can also vary from two to twelve.

The shareholders are themselves legally responsible for the shares subscribed by them. The shares cannot be transferred to anyone except among the members. Shareholders possess fewer liabilities in comparison with the Director/Manager. A Private Limited Company is easy to set up relatively a Public Limited Company.

PUBLIC LIMITED COMPANY

The Company’s Act, 1956 holds the balancing terms of Public Limited Company. A Public Limited Company also needs to register itself with ROC. A Public Limited Company should have a minimum of 7 shareholders and the maximum number of shareholders is not constrained, whereas a minimum of three directors and a maximum of 12 directors are mandatory. The minimum funds required to get a Public Limited Company started is INR 500,000 and as the capital scores off INR 50 million, a company secretary should be hired.

The ownership and the management of the company are completely different from each other and do not play any role in each other’s work. Director’s having the majority play a crucial role in decision making.

Following are the important conditions which are necessary for the agreement of a Public Limited Company –

1. Before the allotment of shares it should be made sure that the outline of the Company is filed with the Registrar of Companies.

2. Before starting the Company, it is mandatory to have a certification of commencement of business from Registrar of Companies.

3. The Public Limited Company should have at least three Directors.

4. The members of the Company should file the basic legal report to the Registrar of Companies.

Deemed Public Companies

Some private companies are deemed to be private under section 43 (A) of Companies Act 1956, under the following requirements –

1. The average yearly upheaval of a Deemed Public Company goes up to INR 250 million.

2. Deemed Companies make advertisements to attract the customers, and by this step, it gets gold of 25% or more of the paid up capital.

Limited Liability Partnership (LLP)

LLP is a combination of incorporated company and partnerships. All the partners have the authority to manage the business directly. The main aim of a LLP is to target on profit and for this there is no restriction to the number of partners but it is necessary for at least one partner to hold Indian citizenship. They all can execute the legal business by filing the incorporated document to the Registrar. The capital required by the LLP is very less and the accounts are settled yearly with the Registrar by every LLP.

LLP is getting popular among small business as it provides limited liability among partners. LLP is being welcomed internationally as well and that is adding the advantages to it.

Partnership Firm

Indian Partnership Act, 1932 holds the laws of the Partnership Firm. Registration of a partnership firm is not mandatory; it solely depends on the partners. But if a third party comes in between, to take a legal action, registration of the firm is required. Partnership firm is based on the agreement between partners varying from two to twenty. Partnership firm allows the individuals such as doctors, management consultants, lawyers, etc to combine their resources and expand the business entity. At time of fulfilling the dues of the firms, the assets of the firm are used but the creditors can also demand for personal property of the partners. Retirement or death of any partner leads to the disintegration of the firm. A partnership agreement when stamped and registered is called “partnership deed”. Following are the points required to fulfil a partnership deed –

1. Name of all the partners.

2. Type of business.

3. Name of the firm.

4. Name of place where business is being worked on.

5. Role played by each partner.

6. Financial status of each partner.

7. Other terms related to the nature of business.

Partnership firm is an optimum setup for small scale business which only requires minimum capital and sources to manage the business. But partnership firm also have its own disadvantages like a) no concordant authority, b) restriction on transfer of rights, c) limited life, and many more.

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Tech Corp International Consultants Pte. Ltd. is a Singapore based business consultancy company focusing on at entrepreneurs who are exploring to start a new business by incorporating a company in Singapore. Through a strong network of our business associates in Singapore, we provide a diverse range of services, including, Singapore company incorporation, accounting, tax, immigration and related compliance services. We assist our clients in incorporation of local Singapore companies, Singapore subsidiaries of foreign corporations and registration of Singapore branch offices of overseas companies, statutory administration of companies, accounting and tax filing for companies and individuals, application for work passes and permanent residence for expatriates, application for business licenses, and related corporate services.

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Doing Business in India | Incorporating Company in India | India Business Guide

Posted by Rahul Dev on January 2, 2013

Article Source: http://techcorplegal.com/Blog_Technology_Law_Business_Research/2013/01/02/doing-business-in-india-incorporating-company-in-india-india-business-guide/

Doing Business in India | Incorporating Company in India | India Business Guide

Although India’s economic growth is unlikely to cross 6 per cent during the current fiscal due to the global uncertainties, it is still an extremely attractive place for foreign investors due to its higher disposable incomes, rising middle class, investment friendly policies and progressive reforms.

To set up business operations in India, first step is to incorporate a company, which includes: obtaining director identification number (DIN), obtaining digital signature certificate, reserving the company name with the Registrar of Companies (ROC) on-line, paying stamp duties online, filing all incorporation forms and documents online and obtaining the certificate of incorporation. Thereafter, it is required to get the company’s seal made and obtain a Permanent Account Number (PAN). Based on the nature of business, it may further be required to obtain a tax account number for income taxes deducted at source (TDS). Subsequently, additional requirements may include registration for Value Added tax (VAT), registration with Employees’ Provident Fund Organization, registration for medical insurance (ESIC), and the like.

For incorporating a company in India, there is a series of steps required for incorporating a private or public limited company in India. These steps work according to the guidelines provided by The Company’s Act, 1956.

1. The very first step of formation for incorporating a company is to get the name of the company registered at the Registered of Companies (ROC) in the territory of the company’s registered office. The company’s name should not match any existing name. ROC at least takes a week from the date of registration of the name to assure that the name does not exist before. After the completion of this process, the company has to file a Memorandum of Association and Articles of Association with ROC itself. For a public company, the company’s name should end up with “Limited” and for a private company; the company’s name should end up with “Private Ltd”.

2. After submitting the Memorandum of Association and Articles of Association, ROC issues an incorporated certificate only after receiving a mandatory registration fees.

3. After these steps, the next main step is to get the address of the registered office. It is not mandatory for the registered office to be the same building from where all the work is being carried out.

4. Foreign companies need to fill up a FNV-5 form with the Reserve Bank of India to get the permission to start the manufacturing and trading activities in India without an Indian partner.

5. For incorporating a Public Company, a minimum of three directors and seven shareholders are required and for incorporating Private Company, a minimum of two directors and two shareholders are required.

6. After the registration and certification, each company needs to designate an Auditor. He has a very important duty to perform in the company. All the balance sheets, company’s documents and company’s meetings are scrutinized by him.

7. Every company should have an account book and written records of all the directors, shareholders and the employees. Account book takes care of all income, including profits and losses and the records register takes care of all the past and present work of the people associated with the company.

8. At last, each company should have a different logo, and a stamp of that logo which is imprinted on each written record and each written document of the company.

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Starting a New Business in Singapore|Singapore Business Guide

Tech Corp International Consultants Pte. Ltd. is a Singapore based business consultancy company focusing on at entrepreneurs who are exploring to start a new business by incorporating a company in Singapore. Through a strong network of our business associates in Singapore, we provide a diverse range of services, including, Singapore company incorporation, accounting, tax, immigration and related compliance services. We assist our clients in incorporation of local Singapore companies, Singapore subsidiaries of foreign corporations and registration of Singapore branch offices of overseas companies, statutory administration of companies, accounting and tax filing for companies and individuals, application for work passes and permanent residence for expatriates, application for business licenses, and related corporate services.

International Technology Business & Patent Law Firm in India: Patent Drafting, Patent Searching, Patent Filing in India, PCT National Phase Filings in India: http://www.techcorplegal.com/

Our Business Law Services: Company & Individual Representation, Business Litigation & Corporate Law, Business formation & Review of Business Formation Documents, Cyberlaw, New Media, & Internet/Technology, Entertainment, Sports, & Media, Contract Negotiation, Review, & Drafting, Intellectual Property ("IP"), Real Estate Transactions and Landlord/Tenant Disputes, Employment Law, Securities, Mortgage, Banking & Finance, Mergers & Acquisitions, Legal Malpractice / Ethics Violations / Company Policies / Website Terms & Conditions, Brand Identity & Positioning, Brand and Intellectual Property Licensing and Development, Compliance, Preparation of Business Plans, Business Process, Efficiency Consulting, & Outsourcing, Investment & Strategic Ventures, Project Finance & Management, Competitive Landscape Analysis, Right Time to Incorporate a Legal Entity, Finance, Funding & Venture Capital, Type of Entity: Company vs. Partnership vs. Sole Proprietorship, Right Location (Jurisdiction) to Incorporate a Company, Company Incorporation in India, Partnership, Sole Proprietorship & LLP in India, Setting up Liaison / Representative / Branch/ Project Office in India, Franchising in India, Licensing in India, Retail in India, Things to do Before Quitting a Job and Starting a Business, Selecting a Business Name, Branding & Trademarks, Shareholders & Stock Options, Tax Planning & Management, Employees, Interns, Human Resource (HR) Management & Labor Laws, Joint Ventures, Corporate Restructuring, Mergers & Acquisitions, Commercial Disputes, Litigation & Arbitration, Foreign Direct Investment & Foreign Exchange Regulations in India

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Patent Prosecution and Patent Grant Services in India: Patent Prosecution in India, Preparing Response to Office Action, Post Patent Grant Services for Licensing Inventions: Patent Licensing, Licensability Analysis Patented Technology Commercialization Services for Individuals, SMEs, Companies: Patent / Technology Commercialization, Due Diligence & SWOT Analysis, Worldwide Trademark/ TM Searching and Filing Services: Trademark Searching, Trademark Filing, Trademark Prosecution & Licensing, Trademark Due Diligence, Legal Research, Process and Support services Outsourcing: Legal Research, Contract Management, Litigation Support, Patent Litigation Support, Medical Litigation Support

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