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Start your Business in Gurgaon | Choose Your Business Structure Wisely

Starting a new company and launching a business in a place like Gurgaon can be a challenging task. Once business model is finalized, next step is to set up the business and incorporate the company in Gurgaon as it offers many advantages. Hundreds of Fortune 500 companies have set up offices in Gurgaon and Internet (smartphone, tablets & mobiles) penetration is one of the highest in India.

Originally published here.

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The urban population of Gurgaon has played a major role in creating the booming startup ecosystem along with digital lifestyle. On-demand services are highly preferred and residents of Gurgaon are really forthcoming in using products and services offered by startups.

Incubators in Gurgaon

After global success of businesses like Uber, Amazon and AirBnb, India has its own share of success stories including Ola Cabs, Flipkart, SnapDeal, Oyo Rooms, Grofers, Zomato, and the like. Many of successful Indian companies are either headquartered in Gurgaon, or their major revenues come from consumers in Gurgaon. This has resulted in a vibrant startup ecosystem in Gurgaon that includes numerous incubators and accelerators. Some of these include 91 Springboard and InvestoPad. Such incubators / accelerators also provide co-working spaces along with access to a strong network of Investors, Mentors, Service providers etc.

Incorporating Company in Gurgaon or Delhi

Having corporate base in Delhi NCR provides significant advantages and process to incorporate the company is straightforward. Startups can select appropriate corporate structure based on their business model. For example, tech startups can opt for private limited company (governed by the Companies Act) that requires minimum two directors (co-founders or promoters). This structure is highly preferred by digital startups (B2C and B2B) as its easy to accommodate investors, issue shares (preference shares and equity shares), allocate employee stock options and increase paid up capital to raise subsequent round of funding. In case of only one cofounder, OPC (one person company) can also be considered as corporate structure, which is introduced by latest company law. However, there are restrictions to issue shares to investors and hence as business grows, the OPC can be converted into a private limited company.

Similarly, service businesses can opt for Limited Liability Partnership (LLP) as corporate structure. The LLP includes partners instead of directors as in case of private limited company. Professional service providers like consultants, accountants, lawyers, architects etc. usually opt for LLP.

Office Space in Gurgaon

According to a recent study by US-based realty consultant Colliers International, Gurgaon has beaten Mumbai and Bengaluru to see the highest absorption of office space in Q3 2015, which explicitly implies that Gurgaon is the country’s fastest growing corporate business hub. Latest business hotspots in Gurgaon are located on Golf Course Road (One Horizon Center and Two Horizon Center) and Sohna Road. While manufacturing companies prefer Manesar, NH8 remains the most preferred location to set up offices in Gurgaon. Places like Udyog Vihar and DLF CyberCity are among the best office spaces in Gurgaon, primarily owing to their proximity to NH8.

For more updates, follow GurgaonTech on Twitter and Facebook.

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Rahul Dev is a Patent Attorney & International Business Lawyer practicing Technology & Corporate Laws. He is reachable at info (at) techcorplegal (dot) com &@rdpatentlawyer on Twitter

In June, I attended Echelon, Asia’s largest technology conference featuring 50+ global speakers, investors, startups, entrepreneurs, and prominent tech corporations.

Originally published here.

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I got a chance to listen to Udemy’s Co-Founder and chairman, Eren Bali, who spoke about building a marketplace business.

What I really liked about the presentation was the way he dissected the marketplace business model while discussing best practices about designing the business. It was quite similar to how a lawyer analyzes various legal issues during a business transaction.

While explaining various components of a marketplace business model, Eren discussed that to start the business, the main goal is to connect demand and supply, which means acquiring more and more users to connect them with the supply side.

Other subsequent components of marketplace business include discovery, pricing, payment, user experience and support.

An important approach explained by Eren was to categorize all components as centralized or decentralized. In other words, if marketplace intends to control any component, it can be called centralized while if it is left to the supply side, it can be categorized as decentralized. For examples, companies like Uber tend to embody the marketplace as completely centralized wherein Uber manages almost everything except driving, whereas companies like Airbnb, ebay, craiglist etc. embody marketplaces as decentralized, wherein the supply side manages most of the stuff.

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His presentation and video are embedded below for more details.

[youtube https://www.youtube.com/watch?v=UmaIJKiU4aE]

Building a Marketplace Business from e27

[slideshare id=35919232&w=427&h=356&fb=0&mw=0&mh=0&style=border: 1px solid #CCC; border-width: 1px 1px 0; margin-bottom: 5px; max-width: 100%;&sc=no]

Legal Challenges

While managing a marketplace business, business owners have to consider and manage certain important legal concerns, some of which are discussed below:

Legal Liabilities

When you walk into a physical store to buy a product and question the store-owner in case of any defect in the product or issue related to electronic payment, a similar problem can also arise while buying a product from an online marketplace. In digital space, third-party vendors usually sell their products through marketplaces that are not owned by them, and consequently, the legal liabilities are also divided among marketplace owners and such vendors. Exactly who is liable for what and whether the liabilities are civil and / or criminal in nature, this will depend upon exact nature of transaction, issue faced by the end user, local laws, and other related factors.

For example, if there is a payment related issue, mostly the liability will lie with the marketplace as they are the ones who facilitate the transactions between buyers and sellers by providing a payment gateway. Similarly, faulty product will become liability of the vendor. In any case, liabilities will be a combination of basic contract law (between buyer and seller, buyer and marketplace business owner, seller and marketplace business owner), consumer laws (basic rights of buyers), data protection laws (mostly with the marketplace business owner), cyber laws, criminal law (mostly with both seller and marketplace in case of infringement of intellectual property rights like patents, trademarks, copyrights, designs, by selling of counterfeiting products by sellers through marketplace), and the like. Similar analysis can be applied while providing services through marketplace business, such as Uber, AirBnb etc.

Accordingly, it is advisable for marketplace business owners to have, (i) appropriate terms and conditions mentioned on their websites that are in line with domestic and international laws, (ii) appropriate contracts with external vendors (sellers) to ensure a smooth transaction with the buyer and prevent transactions pertaining to fake (counterfeit) goods that can result in intellectual property (IP) infringement. This is just an illustrative list of legal measures and based on exact marketplace business model, the exact legal requirements can be quite detailed.

About the Author: Rahul Dev

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