There are a number of businesses which are being carried out in the World and in fact, if one is aware of the Trademark Classification of Business one will find more than 1000+ types of business and hence having a good Trademark Lawyer always help to identify the relevant class for your brand registration. Some of the most common business ones will find is Retailers, Traders, Distributors, Stockist, Repairing, Coffee Houses, Professionals, Doctors, so on and so on. As have been said by me in an earlier article that the businessperson has only two things to do Marketing and Innovations and in this, a successful businessperson put the system in place for its business and one of the systems to be placed in the updated and up-to-date legal documents to be risk-free of doing the business. Any business dealings will have terms and conditions between two or more parties and for sure the terms and conditions define the legal rights and obligations of each party to the legal documents. This means that business owners and managers cannot avoid or ignore how legal matters affect businesses.
In India, the laws are enacted and are in force with binding nature comes from the following sources:
- Act passed by Parliament and notified by President which is either State or Central Legislation
- Court Judgements which are a binding precedent to lower courts. For eg, Judgements passed by Supreme Court is binding on all courts and Judgements passed by High Court is binding on respective lower and trial courts.
- Contracts (within the meaning of valid contract provisions)
There is no doubt that businesses are affected and influenced by all of these sources of law, and people who are unfamiliar with how to respond to them or navigate around them are missing out on opportunities.
The Lawyer is always helpful in the following ways:
- To advice on how to operate within the requirements of the law (e.g., Essential Commodities Act, Employee Related Laws, Labour Laws, etc) so that the business can avoid fines and or penalty and or imprisonment as this is not good for business reputation in the market
- Assist the business in drafting contracts for all commercial and non-commercial transactions in a very precise and clear manner so that all the parties to the contracts are aware of its legal rights and obligations and thereby ensuring the smooth business transaction which in turn ensure growth in faith and trust between the business parties and thereby resulting in the growth of business parties
- To advise the business about complying with the already signed and agreed documents and to ensure of avoiding any dispute in regard to such already signed and agreed documents be taken to court!
There are many other aspects a Lawyer can bring to the success of business growth and having a lawyer is a system being placed in business to ensure no risk or monetary damages come as a surprise to destroy the business. Having a Lawyer is nothing but a means to save time and money of business entities and thereby making such business entities to focus on what’s important to them which is growing business and enjoying preferred lifestyle!
If you are keen to know about ways of minimising the risk and any assistance such as helping you with the right documents for your business, you can email us at email@thelegaldesk.com or call us.
*Content of this post is a Copyright work and is owned by THE LEGAL DESK
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