Mr. Ashish Porwal is the Founder of HREEM LEGAL, a law firm focused on corporate and transactions practice. He is a practicing Advocate and a non-practicing Certified Investment Banker. Ashish is also a registered Insolvency Professional (registered with the Insolvency and Bankruptcy Board of India) and a member of the Indian Institute of Insolvency Professionals of ICAI.
He was invited to Venture center on the 21st of March 2018 to draw light on critical legal procedures and issues that budding entrepreneurs come across during their company’s formative years.
He started by addressing the basics like
- Making an agreement to record basic key terms
- Commercial arrangement and methods to go about it
- Rights/ Duties/ Obligations of Parties involved
- Consequences of Breach and Remedies
Then he went on to explaining the various models of marketing and Distribution Arrangement for a product or process as listed below
- Commercial Trading Model
- Commission Based Model
- Royalty Model
After which he spoke about IP Licensing and the key terms to be considered while sharing your IP with other parties
- Nurturing a relationship
- Delegation of Authority
- Territory of Operation and Exclusivity
- Obligations of parties
- Confidentiality
- Non-Compete and Non-Solicit
He also discussed other priorities like
- Security Deposits
- Indemnity
- Limitation of Liabilities
- Dispute Resolution
It was an interactive session where Mr. Ashish explicitly answered all queries and doubts that attendees had regarding the points he covered and beyond. It was also very insightful for those who are just starting off their journey.