LexCliq

  What Is a Shareholders' Agreement and Why Do You Need One?” – Protecting Your Business Interests Before They Go South! 📉 Client Question of the Day: 👉 “I’m starting a business with partners. Do we need a shareholders’ agreement? What should it include?” #ShareholdersAgreement #BusinessPartnership #StartupIndia #LegalAdvice #BusinessContracts Answer: Starting a business is exciting, but if you’re partnering with others , it’s essential to have a shareholders’ agreement in place. Think of it as a safety net for your business, ensuring everyone is on the same page when it comes to roles, responsibilities, and what happens if things go wrong . So, let’s talk about why this agreement is a must-have ! 📝 #BusinessPartnership #LegalAgreement #StartupEssentials 🔹 What Is a Shareholders’ Agreement? A shareholders' agreement is a contract between the shareholders (owners) of a company that outlines the rights, responsibilities, and obligations of each shareholder. It ...

  What Is an Arbitration Agreement and When Should You Use It?” – When You Need to Settle Disputes Without Going to Court! ⚖️ Client Question of the Day: 👉 “I’ve heard of arbitration, but what exactly is an arbitration agreement ? How does it work, and when should I use it?” #ArbitrationAgreement #DisputeResolution #AlternativeDisputeResolution #LegalTipsIndia #ArbitrationIndia Answer: An arbitration agreement is like a secret weapon for resolving disputes outside the courtroom ! 🏛️⚔️ Instead of taking a case to court, you and the other party agree to settle the issue through an arbitrator —a neutral third party. It’s faster, often cheaper, and can be less formal than litigation. But how does it work, and when should you consider it? Let’s dive in! #DisputeResolution #ArbitrationProcess #LegalResolution 🔹 What is an Arbitration Agreement? An arbitration agreement is a written contract where the parties agree that any disputes arising between them will be settled thr...

  Can I Protect My Startup’s Idea with a Patent? 🤔💡 Or Is It Too Early for That? 🏁🚀 Client’s Question: “I’ve got an awesome idea for my startup. Can I patent it now, or should I wait until I have a working product?” 💡🔒 #PatentIndia #StartupIdeas #IntellectualPropertyIndia #PatentLaw #IPProtection #TechStartup #StartupLegalHelp #LexisAndCompany The Legal Facts: Great question! Protecting your ideas early on is key, but let’s take a closer look at when and how you can patent an idea. 🧐 📝 1. Can You Patent an Idea in India? Nope, not directly. Ideas alone are not patentable under Indian law. However, once you have a working prototype or a method/process that is new, inventive, and capable of industrial application, you can file for a patent. 🛠️✨ #PatentRequirements #InventiveProcess #StartupIP 💡 2. What Can Be Patented? You can patent: ✔ New inventions (machines, processes, devices) ✔ Innovative methods ✔ Biotechnology inventions ✔ Software-related inven...

  What Is a Non-Compete Agreement and Can It Be Challenged?” – When Your Job Wants to Keep You from Moving On! 🚫💼 Client Question of the Day: 👉 “I signed a non-compete agreement with my employer, but now I want to switch jobs. Can I challenge it or get out of it?” #NonCompeteAgreement #EmploymentLawIndia #JobSwitch #LegalRightsIndia #EmploymentDisputes Answer: A non-compete agreement can feel like a big “ hold on, not so fast ” 🚫💼 after you’ve signed up for a new opportunity! But don’t worry—it’s not always as solid as it seems. You might have legal grounds to challenge it, depending on the terms. Let’s break it down! 🕵️‍♀️ #NonCompeteLaw #LegalRights #EmploymentAgreement 🔹 What Is a Non-Compete Agreement? A non-compete agreement is a contract that restricts employees from working for a competitor or starting a similar business for a certain period of time after leaving the company. It’s meant to protect confidential information and trade secrets . #EmployeeC...

  What Happens If I Don’t Pay My Business Taxes on Time? 😱💸 Am I Going to Jail or Just a Hefty Fine? 💰⚖️ Client’s Question: “I missed the deadline for filing taxes for my business. Will I face penalties, or can I just pay and move on?” 😬💼 #BusinessTaxesIndia #TaxPenaltiesIndia #GSTLatePayment #TaxFiling #TaxComplianceIndia #StartupTaxHelp #LexisAndCompany The Legal Facts: Missed the deadline? Don’t panic, but definitely don’t ignore it! 🙈🚨 💡 1. Late Payment Penalties: First, let’s start with the bad news — late payments attract penalties and interest under the GST Act or the Income Tax Act, 1961 . The penalty depends on how long you’ve been overdue. ✔ Penalty for GST Late Payment: 18% annual interest rate ✔ Income Tax Late Filing Penalty: ₹5,000 to ₹10,000 (depending on the delay) #GSTPenalties #IncomeTaxPenalties #LateTaxFiling 📝 2. Filing the Return Late – What Happens? If you file after the deadline but before the last date for filing belated returns , ...

  What Happens If I Break My Car Lease Early?” – Spoiler: Your Wallet Might Not Like It! 💸 Client Question of the Day: 👉 “I want to return my leased car early. Is that possible without paying a huge penalty?” #CarLeaseIndia #LeaseTermination #BreakingCarLease #LeaseDisputes #LegalAdvice Answer: Ah, the classic car lease dilemma ! 😅 While it’s tempting to break free from that monthly payment, returning your leased car early isn’t as simple as handing over the keys and walking away. It usually involves some penalties . But don't fret—you may have options! 🚗💨 #CarLeaseTermination #LeaseBreak #LegalGuidance 🔹 Here’s What You Need to Know: 1️⃣ Early Termination Clause : Most car lease agreements have a clause that specifies what happens if you want to end the lease early. Typically, you'll need to pay a termination fee and cover any remaining payments until the leasing company finds a new lessee. #LeaseContract #TerminationClause #CarLeaseOptions 2️⃣ Mileage ...

  Can I Fire an Employee for Not Following Company Policies? 😤💼 Or Is It a Legal Minefield? ⚠️ Client’s Question: “One of my employees keeps ignoring company policies. Can I fire them, or would that cause a legal problem?” 😬🚪 #EmployeeTermination #LabourLawsIndia #TerminationPolicy #IndianLabourLaw #WorkplaceDisputes #CompanyPolicies #StartupLawIndia #LexisAndCompany The Legal Answer: Yes, you can terminate the employee for not following company policies — but you need to be careful ! 💡💼 📋 1. Check Your Company’s Policies: First, review the employee handbook or company policy document . Ensure that the policy is clear, well-documented, and has been communicated to the employee. If it’s a policy that’s been ignored repeatedly, you’re in a stronger position to take action. 📚 #ClearPolicies #EmployeeHandbook #CompanyRules 📝 2. Progressive Disciplinary Action: In India, employees have protection under the Industrial Disputes Act, 1947 , especially if they’ve been w...