The term ‘business’ refers to an organisation or entity that mainly deals with production and commercial activities of goods and services, generally about the organised activities by individuals to make and market these goods and services for profit. These businesses may be small scale or even international corporations.
The concept of business isn’t something new or modern; man has been engaging in business since prehistoric or ancient times. From bartering grains and livestock to online and digital marketing, from stalls to enterprises, business has come a long way.
One thing to remember is that a business entity is not independent of the identity of the business owner, so the owner incurs any debts or fraud suffered by the business. Any loss in business gives creditors the independence to claim the owner’s possessions to settle funds.
Determining the legal aspects of the business is of the utmost importance. There may be the aspect of obtaining licences, securing permissions and warrants, registration and more to operate legally. One also needs to make efficient plans to avoid lawsuits or being sued. Some of the top law firms in Delhi one can consult for their business are Luthra and Luthra, Anand and Anand, AZB and partners, Khaitan and Co., Amarchand Mangaldas, Pheonix legal, PSP legal, JSA, Singh and Associates and many more.
While most don’t seek legal services, it’s advisable to have a lawyer at hand for your business:
Five signs you need to hire a lawyer for your business:
Though common perception is that hiring a lawyer is both expensive and unnecessary, keeping a lawyer on speed dial has more benefits and uses than one can perceive. It’s what’s best for both you and your business in the long run and short-run as well, and investing in legal services is as essential as investing in your product or service. A sloppy or lazy contract with several loopholes will come back to haunt you later, so caution is advised- hire a lawyer to draft a well-made draft. Many individuals neglect all the legal aspects of their goods or services while they open their business and suffer the consequences for it.
Don’t hesitate to call up an excellent law firm and hire a quality lawyer today to ensure your business is always rising from height to height.
This article is written by Amy Johnes – a legal expert at Ahlawat & Associates – Best law firm for trademark attorney India.
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