We know that ignorance of law is no excuse. Therefore, in order to avoid future legal issues, an entrepreneur must be aware of basic legal aspects in a developing nation like India.But in the regime of multiplicity of legislation, how can we define the "basic legal aspects"
At the out set I must mention that I have very poor knowledge in this regard . However I felt keen interest to answer your query is because currently I am doing an internship in an MNC naming , Marico , which you may know is an Indian company . with my naive experience i can say when there is a multipilicity of legislation due to different regimes they separately must comply with legislation of each regimes where they are conducting business or willing to conduct business in the near future. I might give more insights if you ask more specific questions.
Kind regards,
Irfan
Like the previous contributor, I know nothing of the subject as it applies in India. Still, there is a useful tool here in the UK which just might be adapted for use elsewhere. Here, producers (like others) have a DUTY OF CARE not to harm others: employees, customers etc. They must not produce things that harm others or produce things in ways that harm others.
This might provide a framework for thinking through what we need to do and know before undertaking a business enterprise. Just a thought!
Christopher NOCK
Thanks Dear Colleagues for the wonderful replies.
Yes.........Indian Laws are very much based upon UK Laws. But now in the era of Liberalization,Privatization and Globalization, a number of laws are being amended to cater to the needs of changed business environment.Moreover, in order to solve the problem of poverty and unemployment in my country, there is a need to encourage start ups,and in this way create jobs.Govt. of India has introduced a scheme called"Start Up India, Stand Up India", but still a number of legal formalities and technical issues are involved.
Hello Sanjeev Bansal. All of the above add some 'sense' to the matter - however - the most IMPORTANT thing for any entrepreneur to remember is to trust NOBODY with their money and to perform effective due diligence on ALL matters. All the rest then is relatively 'simple' . Many governments provide 'small business startup packs' that can contain some very useful advice for the 'new'.
Have a nice honest and ethical business day to you all.
To attempt to answer this question properly, you need to be a bit elaborate on your question. That's to say some laws are specifically made to govern a particular business venture. For example IT Act, 2008 is meant to regulate cyber contracts and general online transactions together with contract Act.
Knowing your intended business will help in giving you an apt guide.
Regards.
لا بد من التعرف على جوانب من القانون المدني والتي تحدد له من الذي يحق التعامل معه مثل سنه والتعرف على عوارض الأهلية وانعدامها
ثم يتعرض لبعض جوانب من القانون التجاري مثل من هو التاجر أو ما هو العمل التجاري
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