Many startups just get start functioning without paying heed to certain aspects,due to which the have to face certain problems. So, in order to avoid this one should take care of following points
1) Legal Agreement : Decide on the structure of your entity,Draft an legal agreement depending on it..
A startup running without a legally enforceable agreement is a headed for disaster.
Clear and unambiguous agreement between the partners, employees, vendors reduce the chances of litigation.
2) Compliances : Abide with variuos compliance laws such as Income tax ,Servicetax,State VAT,Municipal registration laws,
Have an competent team of CA,Cs or Advice an Consltant regarding this
3) Consumer Redressal system : lot many changes are done based on consumer reviews/complaints rather then from any other inside
company....Amazon is known for its consumer centric approach at which flipkart lacks..which gives an competetive edge to amazon
4) Vendor payments : TO maintain reputation and trust,they are one of the vital pillar of your startup...make sure you pay
them in time or else they could stop doing business with you,and also can sue you for recovery
5) IP Policy : Make sure all your intellectual property like copyright, TM, designs, patents is registered and are in the name of company, not in the name of employee(s).
The new Startup policy have some business friendly provisons in this regard
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