Page 52 - DMGT310_ENTREPRENEURSHIP_AND_SMALL_BUSINESS_MANAGEMENT

Gopika Juneja, Lovely Professional University
Unit 4: Legal Issues for Entrepreneur

Unit 4: Legal Issues for Entrepreneur Notes

CONTENTS
Objectives

Introduction
4.1 Intellectual Property Rights
4.1.1 Copyrights

4.1.2 Trademarks
4.1.3 Trade Secrets
4.1.4 Patents

4.2 Intellectual Property Rights in India
4.3 Legal Issues to Consider when Starting Your Business
4.4 Summary

4.5 Keywords
4.6 Review Questions
4.7 Further Readings

Objectives

After studying this unit, you will be able to:

Explain the Intellectual Property Rights (IPR)
Discuss the IPR's in India

Discuss the legal considerations before starting a business
Introduction

The basic legal steps before doing business are: handling issues with your prior employers,
choosing a company name, filing all the documents with the secretary of the chosen state,
paying all the required fees with the chosen state, working on the capital structuring of the
equity, drafting employee agreements and legal documents for incentive stock options.
We know that you will need legal help in the following areas: Incorporation; copyrights;
trademarks; patents; contracts and agreements; personal needs of the venture team; real estate
and leasing agreements; employee stock ownership plans; franchising and licensing; formal
litigation; delinquent accounts; liability protection; merger and acquisitions; employee benefit
plans; tax planning and review; government and regulatory reporting.

4.1 Intellectual Property Rights

Intellectual Property (IP) refers to creations of the mind: inventions, literary and artistic works,
and symbols, names, images, and designs used in commerce.

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