Page 60 - DMGT310_ENTREPRENEURSHIP_AND_SMALL_BUSINESS_MANAGEMENT

Unit 4: Legal Issues for Entrepreneur

raids against copyright infringers, the Government has taken a number of measures to strengthen Notes
the enforcement of copyright law. Special cells for copyright enforcement have been set up in 23
States and Union Territories. In addition, for collective administration of copyright, copyright
societies have been set up for different classes of works.

Self Assessment

Fill in the blanks:
6. India has modified its laws on intellectual property to be compliant with …………
provisions.
7. Indian enforcement agencies are now working very effectively and there has been a
notable decline in the levels of ………….. in India.
8. The Government of India is implementing a project for ……………………. of patent offices.
9. Computer …………………… companies have successfully curtailed piracy through court
orders.
10. There is a well-established, statutory, administrative and judicial ………………… to
safeguard intellectual property rights in India.
4.3 Legal Issues to Consider when Starting Your Business

There are a multitude of legal issues to think about when it comes to starting your business.
Everything from your business name to its structure to its operation has legal implications.
What follows is a sampling of some of the legal concerns you may want to address with your
attorney before you start your business.

Business Name

You will need to make sure that the business name you plan to use is not already being used by
another business. You can do this by doing a name search with the appropriate state agency,
which is usually the office of the Secretary of State. If your chosen name is not already in use, you
can reserve it with the Secretary of State’s office for a period of time, about 120 days, while you
prepare your articles of incorporation, articles of organization, or a partnership agreement.

Business Structure

You will need to decide which business structure best suits your business. Your business could
be structured as a sole-proprietorship, partnership, limited partnership, corporation,
S-corporation, or limited liability company. To decide what form is best, you will need to
consider liability issues associated with your business and which form will provide the best tax
structure for your business.

Business Licenses

Depending on what type of business you plan to engage in, you may need a variety of licenses
or permits.

Non-disclosure Agreements

If you will be setting up financing for your business or entering into contracts with suppliers,
you should consider confidentiality and non-disclosure agreements. Since these outside firms

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