One of the most important steps in setting up a company is choosing an appropriate name for it. The naming should be in accordance with the Companies Act, 2013 or Limited Liability Partnership Act, 2008. There are certain naming guidelines for choosing an acceptable name for a Company or LLP.
There are three parts to a name for a company. These are the Name part, the Object part, and the Constitution part. For example, if the name is XYZ Solution Private Limited, then “XYZ” forms the Name, “Solution” is the Object and “Private Limited” will be the Constitution part. Let us look at each of the parts individually. Continue reading “Acceptable Names for a Private Limited Company”
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The private limited company is the most successful business type in India. Private Limited Companies are an ideal way of starting and structuring startups with a higher scope of expansion as compared to other forms of business due to the advantages of high credit worthiness, greater stability and separate legal entity. Continue reading “How to Register a Company”
The most common problem which startups or new ventures face while starting their business is whether to form a proprietorship or a Company.
Sole Proprietorship, being the most traditional form of business is still one of the most common types of business entity in India. The easy formation procedure and minimum compliance requirements in a Sole Proprietorship make it a ready option to start a business.
However, there are various disadvantages of a proprietorship which startups fail to understand at the initial stage. Continue reading “5 reasons why Private Limited Company or LLP is preferred”