09 May

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Foreign Direct Investments (FDI) in E-Commerce Sector in India: Lawyers Advice

in Business Laws, Corporate Lawyer, E Commerce, Foreign Direct Investment FDI, Uncategorized

In a country like India where funds are not easily available, Foreign Direct Investment (FDI) helps the economy develop and act as a vital source of funds for companies wherein non-resident individuals or entities can invest money into India. Foreign Direct Investment (FDI) in India is mainly governed by the Department of Industrial Policy and Promotion (DIPP) and the laws relating to foreign exchange is controlled and managed by the Foreign Exchange Management Act (FEMA) of 1999. Foreign investment in the E-Commerce sector could be made possible even with the investor residing in his own country. But however, in order...

09 May

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Foreign Direct Investment (FDI) Regulations for Foreign Investors in E-Commerce in India: Lawyers Advice

Posted by MyLawyer

in Business Laws, Corporate Lawyer, E Commerce, Foreign Direct Investment FDI, Uncategorized

The buying and selling of products or services in exchange of consideration using Internet is called E-commerce. India has traded in the past for example silk route, spice route etc but the order of the new world has changed paving its way to becoming more technological friendly. India’s e-commerce industry is expected to become thrice as large by the end of 2021. PROCEDURE TO SET UP E-COMMERCE IN INDIAThere are two ways by which an entity can become a market participant; 1) Creating your own Proprietary E-commerce websiteThis will require a website development team, payment gateway and an online...

09 May

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Basics of Foreign Direct Investment (FDI) Regulations for Foreign Investors in India: Lawyers Advice

Posted by MyLawyer

in Business Laws, Corporate Lawyer, E Commerce, Foreign Direct Investment FDI, Uncategorized

India is one the fastest growing economies of the world due to its lenient policies for Foreign Direct Investment (FDI) which turns out to be appealing to the foreign investors, be it individuals or corporations. The Government has formulated FDI regulations with the intent to promote and attract foreign investments by being comprehensible, transparent and predictable. WHO CAN INVEST? • A foreign investor can either invest in a private limited company or a public limited company. • A foreign company can either invest in Joint Ventures and wholly owned subsidiaries. ADVANTAGES OF INVESTING IN...

09 May

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Intellectual Property Rights (IPR) over the Content of E-Learning Apps & Online Coaching Classes

Posted by MyLawyer

in Corporate Lawyer, Intellectual Property IP Laws & IP Rights, Legal Advice, Legal Advisor, Uncategorized

In the age of digitisation, recent development in the education sector has also shifted from traditionalist approach to modernist approach. Everything has gone online; imparting virtual education has become our reality. Lectures are being held online, study material is circulated with the click of a button making it prone for the Intellectual Property Rights (IPR) of the original creator/educator to be infringed which is a legitimate concern. COPYRIGHTS IN E-LEARNINGThe copyright laws in our country are not only a piece of legislative work but also a social welfare mechanism to help people protect their intellectual property (IP). According to section 13 of...

09 May

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Intellectual Property (IP) Protection for Computer Softwares in India

Posted by MyLawyer

in Corporate Lawyer, Foreign Direct Investment FDI, Intellectual Property IP Laws & IP Rights, Legal Advisor, Uncategorized

Computers have become an integral part of our digital lives which helps reduce the burden of tasks on humans with efficiency and effectiveness. Software is set of instructions and programming for performing various tasks, in the most general sense. It is important to know what protections are granted to the programmer(s) as it involves a lot of time, effort and creativity of the person who is helping to make the process easier for users. SOFTWARE COPYRIGHT PROTECTION Copyright gives protection to the author’s expression of work. It aims to protect code functions that form the software in the computer.Section 2(ffc) of...

08 May

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Overcoming Force Majeure amid Post Coronavirus Pandemic: Lawyers Advice

Posted by MyLawyer

in Business Laws, Corporate Lawyer, E Commerce, Foreign Direct Investment FDI, Uncategorized

Coronavirus or Covid-19 has been declared as a global pandemic by the World Health Organisation and has resulted in complete lockdown in various countries across the world. This has resulted in the stoppage of work in both private and public sectors leading to a lot of default in the fulfillment of the contractual obligations. Therefore, it in light of the global impact of Covid-19, it important for businesses to review their Force Majeure Clause in contracts to understands its relevance in the current scenario and in order to understand how to defend themselves in case force majeure is invoked...

08 May

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Force Majeure vs. Frustration of a Contract: Lawyers Advice

Posted by MyLawyer

in Business Laws, Corporate Lawyer, E Commerce, Foreign Direct Investment FDI, Uncategorized

Coronavirus or Covid-19 has been declared as a global Pandemic by the World Health Organisation (WHO) on March 11, 2020 which is considered to more severe than an epidemic due to its geographical outreach. It has resulted in complete lockdown on various countries across the globe including India, which has to led to complete stop on all economic activities other than those falling under the purview of essential services. As an aftermath of this lockdown, various businesses and companies are not able to fulfill their obligations of the contracts they have entered into. Hence, in order to prevent any liability...

08 May

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Enabling Specific Performance of a Contract: Post Coronavirus Pandemic

Posted by MyLawyer

in Business Laws, Corporate Lawyer, E Commerce, Foreign Direct Investment FDI, Uncategorized

When a contractual party breaches the contract the other party has a number of legal remedies for the loss caused by such breach including lawsuits and arbitration. But when the crux of the contract is performance specific or of a unique transaction and no amount of money can compensate the aggrieved party, then Specific Performance of Contract comes as a legal remedy for the aggrieved party. Specific performance of a contract is a remedy used by the Courts when in the breach of a particular contract the Court sees no other remedy (monetary) to compensate the aggrieved party. For example,...

08 May

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Invoking Force Majeure clause amid Coronavirus Pandemic: Lawyers Advice

Posted by MyLawyer

in Business Laws, Corporate Lawyer, E Commerce, Foreign Direct Investment FDI, Uncategorized

The coronavirus or Covid-19 has been declared as a pandemic by the World Health Organization (WHO). This pandemic has led to a national lockdown by the Government of India preventing us from stepping out of our houses. This outbreak and the lockdown as its consequence have posed a lot of problems. Owing to the lockdown and the need for people to quarantine themselves, a lot of businesses and a variety of contracts have been affected making it hard for the parties to perform their obligations towards the contract. Due to this unfortunate situation the parties are searching for defenses to...

08 May

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Arrest under the Foreign Exchange Management Act (FEMA) of 1999

Posted by MyLawyer

in Criminal Law, Criminal lawyer, High Court, Supreme Court, Uncategorized

The term "Foreign Exchange” means foreign currency and includes, ● Deposits, credits and balances payable in any foreign currency, ● Drafts, traveler’s cheques, letters of credit or bills of exchange, expressed or drawn in Indian currency but payable in any Foreign currency, ● Drafts, traveler’s cheques, letters of credit or bills of exchange drawn by banks, institutions or persons outside India, but payable in Indian currency; The Foreign Exchange Management Act (FEMA) was enacted in the year 1999, to facilitate external trade and payments and maintenance of foreign exchange in India. Some...

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