Monday, November 23, 2009

Hired a legal firm for the company

After searching around a bit, I got a small legal firm for incorporation and IP registration. The law firm is relatively young (1 year old) and the partners are in practice only for the past 4 years. But, they are pretty energetic and patient, and I picked them in favor of more experienced firms for whom my company will be a tiny dot... TradeMark & legal name search process is on, and once they give a green to my proposed name, official papers will be filed by Friday.

The incorporation of a Private Limited cost Rs. 18000 ($400) most of it is government fees (Rs. 15000) and rest is lawyer fee (Rs. 3000). It involves setting up 2 directors, setting up Director Id numbers and digital signature, provisioning of a minimum share capital of Rs. 100,000. TradeMark registration costs Rs. 8000 ($180) per trademark registered. Once the name search is done by the end of the week (where they check similiar names in appearance and pronounciation to the existing names), I will file the initial paper (that will allow me to put TM behind my trademark) and once the registration is complete (12+ months) I can put a circled R behind the trademark.

The incorporation might take a month, and after which I need to get initial contracts stuff (for employment, copyrights etc) setup with the lawyer.

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