The Shop Act is designed to regulate the payment of wages, hours of work, leave policies, holidays, terms of service and other work conditions of people employed in shops and commercial establishments. Shop Act is a mandatory registration and is necessary if the business premises are located in municipal limits. It is compulsory to display this document in a prominent place in the business premises.
Udyog Aadhaar is a 12-digit registration number issued by the Ministry of MSME (Micro, Small & Medium Enterprises). Udyog Aadhaar registration is applicable to existing MSMEs that are engaged in Manufacturing or Service activities. Funding is made available from banks under priority sector lending.
Food Safety and Standards Authority of India (FSSAI) is an autonomous body established under the Ministry of Health and Family Welfare, Government of India. It is responsible for protecting and promoting public health through the regulation and supervision of food safety. FSSAI is a mandatory registration/ licence for business entities that engage in food and related activities.
A Business Entity is an entity formed in order to engage in business activity. A business entity is an organisation set-up by the business owners considering the factors such as the size of the business, nature of the business, the number of members involved, capital requirement, etc.
Private Limited Company is a type of company that has limited liability and provides legal protection to its members (shareholders). These companies are governed by the Companies Act 2013, along with the rules and regulations stated in the Memorandum and Articles of Association of the Company.
As per Section 2, subsection 62 of Companies Act 2013, One Person Company means a company which has only one person as a member and a nominee. One Person Companies have lesser compliance requirements.
A Partnership Firm is a form of organisation wherein two or more persons enter into an agreement and agree to share the profits of a business carried on by all or any of them acting for all.
Limited Liability Partnership (LLP) is a type of organization in which each partner’s liability is limited to the extent of his/her contribution. It is formed under the Limited Liability Partnership Act 2008. Limited Liability Partnership (LLP) firm is a combination of partnership firm and private limited company, hence LLP enjoys benefits of both types of organizations.
It is an agreement/contract between a landlord and a tenant, whereby the landlord gives the tenant the right to occupy the premises. It is applicable for a duration/ term which is specified in the agreement.
A Trademark is a recognizable sign, design, or expression which identifies products or services of a particular activity. It is in the form of a logo, image, symbol, word(s), letter(s) or colour(s). It is a recognition of the company’s ownership of the brand. Trademarked products are considered as a form of property. Trademarks are often noted by way of ™, or ® if registered.
Copyright is the exclusive and assignable legal right given to the originator for a fixed number of years to print, publish, perform, film or record literary, artistic or musical material. Copyright provides legal evidence of ownership. The copyright owner can sell or pass on the rights of the work to the other person with copyright protection. Copyrights are often noted by ©.