Dreamingabout starting your own business got a brilliant idea and you just know itcould work well you're not alone many Indians like you have their own businessdreams so turn your dream into reality it's time to get started this video isabout the four steps you need to set up a formal legal business in India here'sa simple example let's say you have a dream to start your own business doingwhat you love designing fun play rooms for kids and let's say you want to keepit simple for now no employees no fancy office just you meeting with clients atyour kitchen table sounds pretty simple but what do you need to go from adrawing to a solid business plan to an official business a good business planis critical a realistic look at your market your customers and your goalscurrent and future it should map out what success means for your business fromthere details of the next steps are different in each province or territory soyou need to find out how it works where you want to operate your business butatypical new business starts with these four steps the most basic first stepfor every new business in India is to choose some form of company registrationand for example you may have trouble choosing between sole proprietorshipreally being the business yourself and incorporation setting up a separatelegal entity this decision is very important so visit India business for usefulinformation to help you decide step 2 is to decide on a name what are you goingto call your business you could choose to work under your own full name and ifyou're a sole proprietor you may be able to do that with no business licensebut if you want to use a unique business name you'll need to apply for abusiness license step 3 involves getting a business license the document that allowsyour business to operate in a specific province territory or city step four isregistering your business which is different from getting a business licenseregistration is about getting a business number to communicate with governmentand about setting up your taxes so those are the basics four steps that willget your business started decide on your legal structure and business name thenlook into business licensing and private limitedcompany registration.
CopyrightTrademark and Patent are the three main components of the intellectual propertylaw patent (know more about PatentFiling in India)protect inventions as it gives the inventor a monopoly on the manufacture useor sale of his innovation while copyright (CopyrightRegistration)protects creative works such as writing visual art music and audio recordingsfrom unauthorized reproduction while trade dress is the look and feel of aproduct its shape packaging and design that signify the source of the productto consumers on the other hand trademarks (TrademarkRegistration in India)are brand names which are labeled to products and services the mark is adistinguished side like a word phrase symbol or a combination of the theseelements a mark is used in business to indicate the source of the brand inorder to distinguish and identify it in the market trademark protects thecustomers by preventing the public confusion as to the origin or quality of aproduct in addition to rewarding the brand owner by maintaining his businesssuccessful reputation unlike most countries the American law protects a brandeven if it's not registered which is known as the common law trademark rightsas the trademark ownership belongs to the first seller who use and trade thebrand in the markets a trademark infringement could happen when a likelihood ofconfusion exists between trademarks which means that the brands are verysimilar that consumers would mistakenly believe the two products come from thesame source in this case the fake brand has to stop misleading the market andis liable to pay damages in case trademark is objected it would require trademarkobjection replyto the original brand owner however trademark protection is not absolute as itssubject to certain limits such as the trademark abandonment geographiclimitation and the fair use of the brand by a third party.
