INC 29: Single form Company Registration It is a form introduced by the MCA in May 2015 to simplify the registration process. It combines forms for Director Information Number (DIN), name approval and incorporation into one. So while under the old process (which can still be used, by the way) the DIN was required before name approval could begin and incorporation could begin only once the name was approved, all three will now be processed simultaneously. How much time will it save? It’s impossible to give an exact number of days. In any case, it’s likely to vary quite significantly from case to case. Here’s why: Old procedure: Takes 30 to 45 days to complete. This can be broken down as follows: Digital Signature Certificate (DSC; 2 to 5 working days), DIN (1 to 3 working days), Name Approval (4 to 15 working days), Final Incorporation Filings (7 to 15 working days) and PAN & TAN (7 working days). New Procedure: DSC will continue to take 2 to 5 working days. The DIN, Name Approval and Final Incorporation Filings, though submitted simultaneously, are likely to be processed separately. This means that processing time, though shorter than in the old procedure, is likely to be much longer than the government claim of 48 hours. Our estimate is 15 to 30 days. Will it be cheaper? Yes. Surprisingly, the INC-29 process not only promises to be cheaper, it will reduce the cost of the incorporation process. The old forms had a total cost of Rs. 4200, whereas the new form will cost just Rs. 2000. How to incorporate with INC-29? Step 1 – Get a DSC A Digital Signature Certificate (DSC) is necessary so that the company registration process can be completed electronically. One proposed director must get a Class-2 DSC. It is the digital equivalent of a physical certificate, stored on a USB token. The DSC can be obtained from one of the six government-certified vendors, such as Tata Consultancy Services and nCode. Their prices vary from Rs. 400 to Rs. 2650. To get one, what you need is a self-attested copy of the director’s PAN card and address proof (latest utility bill, passport, driver’s license of voter’s ID). This can be completed in 2 days. Step 2 – Get Papers in Order Even while waiting for the DIN, you could begin with getting the papers in order for filing INC-29. This is because every attachment for the incorporation process needs to be filed along with this single form. Moreover, you’ll get only one attempt to resubmit the same. So if you make a mistake once the Registrar has already pointed out what’s wrong with your application, you’ll have to start filing INC-29 again. Even more painfully, you may have to apply for a refund on the government fees you paid the first time. So here are the documents you need to get in order for (all documents need to be self-attested; in case of a foreign director, they would need to be notarised at the Indian embassy): Director Identification Number:The Director Identification Number (DIN) is how the MCA identifies directors of companies. A single director can have only one. Up to three directors, including the one with the DSC, may apply for a Director Identification Number (DIN) through INC-29; the rest, if any, should do so separately (the old procedure allows for an unlimited number of applications). The documents needed are the same as for the DSC, but you’ll also need to provide a Passport-sized photograph of each applicant. Name Reservation:You need to come up with one – yes, just one – name. While the old procedure allows for submission of six, the new allows just one. So you have to be careful while picking the name. To do so, you should follow the naming guidelines provided by the MCA. This means that the name should not have been taken by another private limited company and there shouldn’t be a registered trademark with the same name. Also, you should ensure that your name contains a unique word and a word that describes the sector you’re in (Arlem Catering Services Private Limited, for example). The INC-29 form also asks for the significance of the name you’re picking. Here you must explain how the name of your company connects with the business you’re in. Memorandumand Articles of Association – The Memorandum of Association (http://www.startupfreak.com/memorandum-of-association-and-its-clauses/) and Articles of Association (http://www.startupfreak.com/what-is-aoa-articles-of-association/) need to be attached to the INC-29. You would need a Company Secretary to sign these documents. Registered Office Verification– You have to upload a soft copy of a Rental Agreement, along with a no-objection certificate from the owner. If the business owns the property, then the sale deed would need to be submitted. Appointment Letters and Declarations– Letters of appointment of directors, CEO, managers, declaration by first director in INC-9 and by appointee and managing director in DIR-2. Step 3 – Filing of INC-29 Once you’re ready with all the documents, you can file the INC-29. Ensure that all the details are properly filled. After all, you only have one opportunity to resubmit your documents. On filing the document, you will be directed to pay the fees and stamp duty. The fees will depend on the authorised capital and the state in which the company is being registered (Punjab and Kerala, for example, have much higher stamp duty rates). Depending on the workload of the MCA, completeness of applicaiton and the complexity of your business, you will receive the Certificate of Incorporation within 10 to 25 days. The form does seem to indicate that PAN and TAN would also be approved in INC-29, but this is not the case; you still need to apply separately. Step 4 – Get PAN & TAN All companies need a Permanent Account Number, to be registered with the IT Department, and Tax Account Number, for depositing tax deducted at source. To get these documents, you must first apply at the NSDL website and then submit copies of the Certificate of Incorporation, along with the signature of the main director and company seal. You will receive the documents in 7 working days at the registered office address. The cost of these is Rs. 109 and Rs. 67 for PAN and TAN, respectively. What are the concerns with INC-29? No Track: As all the processes are combined, you will have no idea where your form is stuck. It could be stuck at name approval, DIN, or incorporation. In the absence of a tracking system, you just have to wait until the file is returned. Single Name: The Registrar tends to take over 7 working days to approve names under the old process, even though it has the liberty to pick any one from six options. Under the new process, where only one may be submitted, rejections seem bound to happen because of the proposed name. Single Resubmission: Some of the registration process is still so subjective that a single resubmission is not enough. The name approval process, for example, is completely at the whim of the Registrar. It’s possible for your name to be rejected more than once, in which case you would have to file the form and pay the Rs. 2000 again. Even with INC-29, company registration remains a tedious process, as the MCA has not dropped any submissions, merely combined them. The total cost will depend on the cost of company secretary you choose. Source:- startupfreak.com How Aapka Consultant can help you:- Get free expert consultancy from experts. We available every time to solving your legal queries. Get one stop solution for all legal compliances. Process application within 24 Hours. Trusted by Most Valuable Startups. We Understand Startup Budget & their needs. Get quality services at pocket price. Apply Now to Register your Company under Companies Act, 2013

Choosing a ‘Class’

In order to apply for a trademark, the primary step is for the enterprise to determine the category under which it seeks protection. The Trade Marks Act, 1999 contains a total of 45 categories, in which Classes 1-34 deal with goods and Classes 35-45 deal with services.

Hypothetically, if you want to register a brand of harmonicas called Veeru, you would first be required to determine the class under which it falls. A harmonica, which is a musical instrument, falls under Class 15. If a logo in addition to the brand name is to be registered, they would both have to be registered separately but under the same class.

However, it is important to know that the registration of Veeru only under Class 15 would not in any manner preclude another company from using the same brand name for another class of product or services (Clothes, Automobiles or Telecommunication services, for instance)

Therefore, if one wishes to diversify one’s enterprise in the future to deal in other products or services in other Classes, it would be prudent to register your trademark in all those classes in order to obtain a greater degree of protection.

Also, one is precluded from registering trademarks which are well-known. For example, Ferrari is a very well known brand, and even though it does not make harmonicas, the use of its name is prohibited for other products as well due to the fact that it is extremely ‘well-known’.

Checking if the trademark you want is available and making an application

After determining the Class in which you wish to register your trademark, you may contact a reliable trademark lawyer in order to check if there are similar trademarks which have already been registered under that Class. It is essential that you explain the nature of the enterprise in detail so that the lawyer may be able to effectively advise you on whether or not the chosen class(es) are appropriate and whether or not you should register under additional classes as well.

The next step would entail you authorising your lawyer to act in the capacity of your agent during the course of the trademark registration process. The fees charged are Rs. 3500 per Class by the Government and Rs. 1000-4000 per Class by a lawyer as legal fees. The registration of a trademark will therefore cost you approximately Rs. 5000-7500 per Class. The lawyer will then proceed to verify whether or not the trademark is available. This would entail an online as well as offline search. It is recommended, however, that you ask your lawyer to conduct both an online as well as offline search.

The lawyer would now begin to draft an application for the registration of your trademark. If the trademark you seek is unavailable, you can change/modify the name or logo. Similarly, if another company has a similar trademark which you think should belong to you, you can file appropriate proceedings with the help of a lawyer.

During this process you are required to decide whether or not the trademark should be registered in your name or your company’s name. Many small entrepreneurs register their trademark in their own name since this would allow them to use the trademark even if their business shuts down. Additionally, if you were to register the trademark in the company’s name the trademark will be owned by the company, and a Company’s shareholding may change from time to time.

An option many use is to register the trademark in your own name and then enter into a license agreement with the company. This provides greater security since the license may be revoked if the company is being closed.

Even if the trademark is available, the Trademark Registration Office may reject your application for a number of reasons, including:

The Trademark is merely ‘Descriptive’

If a trademark merely describes what the enterprise sells, you will not be able to obtain a trademark. For instance, obtaining a trademark for a car company called ‘Car’ will be difficult. However, obtaining a trademark for a car magazine called ‘Car’ would be easier since you are not actually selling cars but only telling readers about them.

The Trademark is ‘Non-distinctive’

The law requires trademarks to be ‘distinctive’. This means that a trademark cannot be similar to the trademark to an already existing company.

The Trademark is similar to a ‘well-known’ Trademark

In relation to the above point, you are prohibited from using a trademark that is similar to a ‘well-known’ trademark. For example, the use of the brand name ‘Ferrari’ is prohibited even though Ferrari does not and may never sell harmonicas.

Post-Application

After your lawyer files an application for the registration of your trademark, you should ensure that you get a receipt. A few days later, you will receive the Original Representation Sheet of your application. After this procedure, the trademark is granted in approximately 16-24 months. It may take a longer period if anyone objects to your being granted the trademark.

Additional points to remember

In addition to the above, you should bear the following in mind:

The registration of your trademark in India should be your primary priority before seeking protection in other countries.

You may use the ® symbol next to your name and logo only if your trademark is registered. If not, you may only use the ™ symbol. Utilisation of the ® symbol without having a registered trademark is an offence.

Having a registered trademark can save precious time and energy in litigation. If you do not have a registered trademark you would have to go through the laborious process of proving that someone else was trying to “pass off” their products as yours.

Lastly, investors conduct a thorough search of a firm/company’s intellectual property protection before they invest in your enterprise. Not having a protected trademark may affect you.

Source:– Your Story

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