| Topic : Top Mistakes that Entrepreneurs Make |
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Activity:
119 views;
last activity : 07 06 2010 20:18:09 +0000
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Neglection
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No mistakes
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Its about getting the right service from the corproate consultants and company secretaries
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Service Tax Issue
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Hiring employees
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idea
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According to me this is the biggest problem, neglecting the legal issues like thinking any legal issues can be solved later,one thinks that ok the business is up and running whatever issues are there they can be tackled later, which is not so good for the future. So it is good to hire a competent lawyer. Excellent legal talent can be retained for relatively little money in the early stages. It will cost less to get it right at the beginning itself rather than to try to sort it all out later, which is very important.. So what are the other mistakes? give in your views here.. |
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Entrepreneurs are not qualified to make legal mistakes. |
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I agree with Mr. Sultan, Entrepreneurs are not Corporate lawyers or C.S.
They are the one who take care of business development, Production, Major Financial decisions basically they take care of Planning work.
Yes ofcourse with time they should gain some knowledge of Legal Arena but it doesnt mean that they should become Corporate Lawyer.
Its about getting the right service from the corproate consultants and company secretaries
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Yes, its about getting the right legal advice and counsel. An entrepreneur should first now that for the successful a being a successful entrepreneur, due regard to be shown to the law. Its especially so when a company is to be formed and formalities are more when the company is public limited company. Again the company secretaries not only advice the company in formation, conduct of meetings, giving notice etc., but then would render legal counsel as when required by the management. Many companies are not able to overcome this issue and they will finally complicate. An unintended mistake too, may have disastrous consequences if not addressed property and its with implications. As such, though the issue can be detailed more, the entrepreneur must focus on getting the right counsel, attorney or the company secretary.
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Another mistake to add to the neglection part is while hiring employees without checking their agreements with the current organization where they are working and their knowledge of trade secrets of the company. The law is clear that if someone is currently working for a company, particularly and if they are key employee, they cannot operate a competing business. Even just incorporating them may spark a legal issue towards you from the current employer. So one should be careful while Hiring employees.
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If any employer want to employ any person he must put work agreement specifing the period of the employment and code of conduct for terminating the employess. If the enterpreneurs follows the above thing there is no problem |
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Bad news really bad news . 1) We should produce our own arms . 2) More arms means more fight. 3) Only arms would not ensure security. |