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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

Evan asked his first question: “What’s the worst thing I can do as CEO to fuck the company up?”

Without skipping a beat, Campbell responded: “Hire your fucking friends!” He went into a ten-minute tirade about friends and business and how they don’t mix.

This conversation summarises the first meeting between Evan Williams (Ev), Co-Founder, Twitter, with Bill Campbell, legendary CEO coach, who has mentored Steve Jobs and a long list of other titans.
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steve jobs apple

It comes out as an important business lesson after reading the book, “Hatching Twitter: A True Story of Money, Power, Friendship, and Betrayal” by Nick Bilton, New York Times technology and business columnist and lead blogger for The New York Times Bits Blog.

More details regarding the book Hatching Twitter may be seen here. The book can be bought in different formats, including Kindle, Hardcover, Paperback and Audible.

Hatching Twitter Startup Story Co founder conflict

Image Source

So, the important business lesson is that friends and business do not mix. Although many startups and entrepreneurs begin their journey as couple of friends who get together to build the next build thing, most of such relationships end on a bitter note, as gradually, it gets difficult to draw a line between personal and professional relationships.

While carrying out day-to-day business activities, problems are encountered regularly and taking proactive business decisions can solve the problems. However, when it comes to friends, personal relations mostly overshadow the problem at hand, which subsequently snowballs into much bigger problems. On the contrary, if things go as per plan, such relationships can foster into great business partnerships.

In the end, be it friendships or business, it all boils down to how well people manage their relationships. While building a startup with a goal of generating a successful business, a co-founders agreement is an important document that can help avoid potential disputes. In case of conflicts, the co-founder agreement can provide clarity with regards to resolving such conflicts.

Rahul Dev (@rdpatentlawyer) is a patent attorney, international business lawyer, speaker & author. He serves as corporate counsel to clients worldwide. He blogs about Technology & IP Laws at www.TechLaw.Attorney and about Business, Strategy & Leadership at www.AdvocateRahulDev.com.

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