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Start ups must have a Legal Advisor on Call.

 Start ups should have A Legal Advisor from the Inception preferably. Dinesh K Kapila

I was talking to my son, Prashant Kumar Kapila, a practising advocate. The young man has had an association with some start ups at varying stages. My association has been more of what is the sector all about but it has led to many founders reaching out to me for advise. On partnerships gone sour, key personnel quitting and setting up their own enterprises, being accused of fraud, tiffs with investors, missing out on key clauses in agreements etc. Patents and IPR too. Well we the father son duo one day discussed this and came to the conclusion each start up should preferably have a competent (not necessarily expensive) legal advisor or consultant who is in practice. Pay by the hour or case or a retainer is their decision. Even if an in house legal associate is there, a competent lawyer in practice can offer straight professional advise. As Prashant says, that is my value and similarly with other such lawyers. A legal advisor would be ideal to formally define partnerships and roles, equity, responsibilities and exits, the structure of the company, the non disclosure agreements and safeguards to be incorporated on exits by key personnel, vetting of contracts and compliances. Regulatory compliance is a key area as are enforcing contracts. And understanding the implications of certain government policies and modifications. Also contracts with vendors and customers. Local employment rules and policies should be understood. And whether to go in for arbitration if commercial disputes arise. When investors offer to invest funds or to come onboard, the contracts and terms and conditions can be discreetly vetted by a lawyer. It pays in the long run. Problems or concerns or implications should be known and understood in advance then later when valuable man hours are invested with negativity. You actually are shielding yourself and your company. Broadly this is the gamut we father son could think off.
One Insight 
The Book of Knowledge and the Book of Life. If you seek to work on social and economic aspects, know the book of life! Go out in the field. Meet people. Connect. The Book of Knowledge and Book of Life are complementary. Do not deprive yourself of knowing life firsthand.
DKK
Operational excellence and belief is a delusion in governance in India. We believe that writing and formulating an extensive document or policy is action, but the key is in its effective implementation. Else it’s just words. Focused action at the cutting edge is where we falter. Dinesh K Kapila
 

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