Why it is Dangerous to Avail Online Business and Legal Services in Business or Else?
There are many online legal services offering services such as standard business templates, online business formation companies and or online legal services offering cheap services and forms and templates but what is the reasons that you should not use them?
You should consider these factors before deciding whether an online legal services company is your best choice:
- They do not understand your strategy and there is no understanding consensus meeting and hence they are not in a position to analyze what type of entity is best for you. [Please note, that choosing the business type depends on your business strategy and plans and this is the most important stage as one has to know whether you are ready to take the risk in starting partnership firm where liability is limited or private limited company, where the ROC compliance are many and appointing CS or CA for this work becomes almost mandatory]
- They do not discuss the levels of liability protection available to you nor how to conduct your business for maximum protection.
- Their online applications do not discuss your business goals with you. [Please note that Business Plan and Business Goals are part of Business Strategy and hence everything has to be known to one person and one contact so that there is sync going one else for every work if there is no co-ordination the work will get its own interruptions]
- If you do call to speak to someone on the phone, just who are you talking to and what do they know about Indian Laws and local laws
- Will you get to speak to the same person each time you call?
- You will not have the chance to see the form contracts they offer you before you buy them.
- The contracts you buy from them will be one-size-fits-all and it may contain the provisions which may not be appropriate for your requirements
- They will not advise you about the local regulations, such as trade license requirements, which may restrict your business operations or prohibit it altogether at the location you choose.
- The information they request in order to prepare an agreement between multiple company owners is scant and is very unlikely to result in a very good agreement for you. And then, who will answer your questions?
- They do not discuss your business succession or liquidation plan.
- They don’t discuss of what is required or not in any affidavit or agreement
- In regard to IPR, they don’t inform you what is the best way to protect your IPR [Please note, that each mark can fall under various classes and also may get in other IPR protection and each has its own specific purpose and this is not possible to close on one call and there is no way you can get one person at one call]
- The list goes on and on and on.
It is all about your safety and your security and one small mistake either in commercial agreement from legal aspects or formation; it may ruin your whole idea of business set-up.
Qualification: LL.B / Advocate
Company: FIREFLIES LEGAL LLP
Location: Navi Mumbai, Maharashtra, India
: 01 May 2020 | Total Posts
I have been in Law Practice for more than 15 Years. My practice areas include: (a) Drafting of Commercial and Non-commercial Agreements/Contracts; (b) Recovery Matters before all Forums/Courts; (c) Arbitration and Conciliation; (d) Cross-Examination, Admission and Interim Stay; (d) Devising Strategy View Full Profile
My Published Posts
Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.