Plan for Start-Up and Legal & Ethical Steps

On 29.3.2023 the Entrepreneurship Development Cell and IIC in association with the Department of IT organized a session on “ Plan for start-up and Legal & Ethical Steps”. The session was handled by Mrs.Thanalakshmi, AP/MBA, Francis Xavier Engineering college. 60 students from Third year IT and 1 faculty from IT department participated in the program. The program was coordinated by Mrs. M. Yasmin Nirosha, Assistant professor, Department of IT from 10.30 A.M – 12.30 P.M

The seminar aimed to provide insights into the essential legal and ethical steps that entrepreneurs need to take while starting a new venture. The seminar also aimed to provide guidance on creating a successful business plan to set up a start-up. The guest speaker emphasized the importance of a well-structured business plan. She discussed the key elements of a business plan, including executive summary, company description, market analysis, product or service line, and financial projections. She highlighted the importance of conducting thorough market research to understand the competition and potential customers' needs.

Mrs. Thanalakshmi then discussed the critical legal steps that entrepreneurs must take while starting a new venture. She emphasized the need to obtain all necessary licenses and permits from the relevant government authorities. She also discussed the different types of business entities, such as sole proprietorship, partnership, and limited liability companies, and their respective legal requirements. She highlighted the importance of protecting intellectual property rights, such as trademarks, patents, and copyrights, to safeguard the company's unique products and services. She also discussed the importance of having proper agreements with employees, vendors, and partners to avoid any legal disputes in the future. The Program provided valuable guidance to entrepreneurs on creating a successful business plan and taking the necessary legal and ethical steps to set up a new venture. It emphasized the importance of conducting business in an ethical and socially responsible manner, which is critical for long-term success and sustainability. Overall, the seminar was a great learning experience for all participants.