The globalization and market expansion has made the Indian residents more brand-aware in the past few decades.
This change in the market scenario has allowed international brands in different categories to explore the potential of the Indian market. Many international brands like McDonald’s, Dominos, Burger King, Mothercare, Next etc. have entered the Indian market and they doing pretty well in their respective fields. Even the Indian brands like Cafe Coffee Day are expanding their roots all across the country.
Legal
When you are entering the market as the franchisor or the franchisee, you have to consider the local and national laws. The franchise scene in India is much different in comparison to the international market. This is the reason, there are no particular set of rules for franchises and the market is governed by a number of different rules and regulations.
The Contract Act
The contractual relationship between the two parties is governed by the Indian Contract Act that was established in 1872. As per the Act, there are no specific set of rules and regulations and the contract can be based on several factors depending on the understanding between the franchisor and the franchisee. However, both the parties should get a legal consultation to ensure that there is no clause in the contract which can define it as null and void at any given time without following the proper procedure.
Restraint of trade
この記事は Small Enterprise の August 2017 版に掲載されています。
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この記事は Small Enterprise の August 2017 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
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Do startups create jobs? This could unarguably be one of the most sought after questions in recent times. While it is out and clear that startups make way for employment opportunities, the discussion boils down to the importance of startups in creating jobs. The startup ecosystem indeed plays a major role in job creation and is touted as an economic panacea.
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We, humans, by nature, tend to be lazy. We always try to make tools, machines, gadgets, etc., to save us time and energy and give us satisfactory results. Technology is the charisma that kept changing our way of living and our style of doing things drastically. Our way of conducting business is also not spared by the Tsunami of technology.
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Recent years showed a considerable rise in the startups of India. During globalization, MNCs or Multi-National Companies had a massive role in India’s economic growth. Now, it seems that startups are revolutionizing the Indian economy. These startups are amplifying the revenue generation and enriching the GDP.
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In the present economic situation, having knowledge of an academic subject is no longer sufficient for a new graduate. Students are increasingly required to have skills and abilities which will increase their employability, such as: the retrieval and handling of information; communication and presentation; planning and problem solving; and social development and interaction.
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The Economic survey in 2019-20 using World Bank’s data on entrepreneurship stated that India ranks third in the number of new firms created. However, India ranks significantly lower in terms of intensity when compared with countries like UK and US.
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