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Author Topic: Starting a New Company (NDA) (Partnership) (Trust)  (Read 796 times)

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Offline deepnx

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Starting a New Company (NDA) (Partnership) (Trust)
« on: December 15, 2016, 11:39:12 PM »
Hi im planning to start a new company for a product in India
I obviously dont have the desired funds for it.

So im planning to approach an Investor for which im ready to offer him partnership for his Capital.
Even if you guys could help me with one or two if not all of the questions .. please do leave a reply... every reply is knowledge for me.

Q1. When im pitching my Idea to him. how can i trust him of not copying my idea and start his own business with it?

Q2. If Q1 ans is NDA then does the NDA have to be Notarized or printed on a Stamp Paper? or a Simple printout is enough?

Q3. Should i start the company and then add him as a LLP partner? or Go directly into LLP after pitching him the Idea?

Q4. Should i setup and trademark the company first and then approach him? or Setup it with him? after signing the NDA
(I have no office to show as i would need Ghumastar license/ Current acc etc. and i dont have that much money)

Q5. cont. for Q4. So as per law .. can i just Trademark the unique name i have thought for my product so that he doesnt copy it? eg. "XYz123"


Please guide me through this ..

Thanks a ton ...


Offline shabbirmnj

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Re: Starting a New Company (NDA) (Partnership) (Trust)
« Reply #1 on: December 16, 2016, 12:51:10 AM »
Hi Deepnx,

Thank you for sharing your question even though we are in same boat but I dont know much about your question 3 & 4.
but i am still floating on q1 & q2 because many people dont sign NDA and they just want to hear the idea but dont want to follow legal terms to hear the idea.

"Simple Print out is enough."

Offline deepnx

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Re: Starting a New Company (NDA) (Partnership) (Trust)
« Reply #2 on: December 16, 2016, 10:57:12 PM »
Hi Deepnx,

Thank you for sharing your question even though we are in same boat but I dont know much about your question 3 & 4.
but i am still floating on q1 & q2 because many people dont sign NDA and they just want to hear the idea but dont want to follow legal terms to hear the idea.

"Simple Print out is enough."

Im glad we have common questions ... this looks like a great forum but most active topics are of Cyber crime and Divorces here .. Hopefully someone will read this post and answer our queries.

Offline mahaur_rk

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Re: Starting a New Company (NDA) (Partnership) (Trust)
« Reply #3 on: January 07, 2017, 02:29:41 AM »
Q1. When im pitching my Idea to him. how can i trust him of not copying my idea and start his own business with it?

there is no concept in law what we may call. it is better to go for patent of your idea in your name, even if someone ditches you, then you may take legal action against him.

Q2. If Q1 ans is NDA then does the NDA have to be Notarized or printed on a Stamp Paper? or a Simple printout is enough?
Ans :: NDA won't be good idea.

Q3. Should i start the company and then add him as a LLP partner? or Go directly into LLP after pitching him the Idea?
Ans: you may straightaway go ahead with company incorporation or LLP firm and add him as director/ partner, but first get the patent of your idea firt.

Q4. Should i setup and trademark the company first and then approach him? or Setup it with him? after signing the NDA
Ans follow ans 3

Advocate Rajesh Kumar
« Last Edit: January 24, 2017, 06:56:22 PM by admin »

 

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