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We are structuring our consultancy firms what are legal requirements


17-Mar-2023 (In Startup Law)

We are five friends from IIT, started a company to give consultancy. We started as simple consultancy but Now, Our role is just attract more clients and provide to other associate experts. To facilitate, two of us started to develop technology for efficent functioning, other one started big marketing conference (Event). Now, we are in need to bring structure to convert into fair company. Any Recommendation. (We are in plan to hire the lawyer, but first like to learn myself, read case-study/some example and then hire right person)

Answers (1)

Answer #1
611 votes
You could incorporate as an LLP i.e. Limited Liablity Partnership or as a Private Limited Company. The right corporate structure for acting as a facilitator of IT consulting projects would depend on the objectives to be achieved such as accessing capital markets, corporate borrowings from banks and limitation of liability to name just a few.

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