Start-up India is an initiative of the Government of India. The Government aims at empowering start-ups to grow through design and innovation A start-up is a company initiated by individual founders or entrepreneurs in search for a repeatable and scalable business model. It is well said in law that, “ignorance of law is no excuse in India” and therefore Start-ups founder are not excused if they do not follow the legal compliance. Therefore, before starting any business or any company, it will be mandatory to pass through some legal certifications.
The Start-ups shall self-certify compliance in respect of following labor laws:
- The Inter-State Migrant Workmen (Regulation of Employment & Conditions of Service) Act, 1979
- Other Constructions Workers’ (Regulation of Employment & Conditions of Service) Act, 1996
- The Contract Labour (Regulation and Abolition) Act, 1970
- The Payment of Gratuity Act, 1972
- The Employees’ State Insurance Act, 1948
- The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952
So before starting any Start-up, one must fulfil the above-mentioned law for self-certification and also one must also keep in mind the following rules as such as to Hire a good lawyer, Research online, SEBI, Founder’s Agreement, Investor agreements, IT Laws, Labour Laws of India, Intellectual property rights and many more
A well-known proverb which catechizes is “Prevention is better than cure”, that start-up companies should seek expert’s legal advice and legal solutions to all the probable problems. Rishabh Gandhi and Advocates are one of the top law firms in India which can help Start-ups with legal documentation, online legal solution, drafting agreements and legal advice. Rishabh Gandhi and Advocates started its practice since decades. The Firm is a multidisciplinary Law Firm based in Pune, having reputation for its expertise and excellence in a bouquet of diversified legal services. The firm serves clients from both India and abroad with its key practice areas including Business Formation, Co-founders agreement, Franchising, Fund Formation, Data Privacy and Protection, IP Protection and Commercialization, Dispute Resolution, Fundraising, Commercial Contracts, Due Diligence, Compliance Management, Employment Contract, Policies, Stock Options and joint ventures in many other fintech start-ups.