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A well-written contract is the heart of any successful business and serves as the foundation of any transaction done by businesses. A contract is a legal proof of any transaction, agreement or trade done between two businesses. But more often than not, contract drafting is undermined by businesses and this leads to major complications in future.

Business cannot only rely on shake hands and vocal commitments, there has to be a written, law abiding proof of the agreement.  A contract lays the foundation for anything you or your business might do, and protect your actions by law.

Various types of contracts:

Sales of service/ Goods Contract

Terms and condition of use

Lease contract

Agency agreements

Distribution and Franchise Agreements

Partnership agreement

Intellectual property contract

Employment contract

And many more, any time you or your business interact with another business or individual- there is a contract for it. This explains the dire importance a well-drafted contract.

Here are our few tips to consider before contract drafting.

1.      Never do anything without a contract or an Agreement:   Businesses don’t run on trust. So trusting your partner over a shaking hand or over a verbal agreement can lead to disastrous results in future.  However old you relations might be, it is always worth taking an effort to draft a legal contract- so you are protected in case things go wrong.

2.      Seek expert help if necessary: Drafting a contract is an art, as well drafted – well-organized contract can help you negotiate over important trade aspects. It also makes sense to add a non-compete or other similar clauses to protect and secure your business. Contracts also allow you to discuss future of your partnership and what should happen if someone violates the contract.

3.      Take your time to read through the entire contract: It is always a good idea to read the whole contract before you sign it. As once you sign the contract, you cannot break free from it without legal consequences. That is why it is recommended that you read the entirety of contract, word by word and then sign.

4.      Perfect your language: While drafting a contract you need to be very precise and accurate about your goals and describe them in plain, simple to understand English. Each sentence should be less than 25 words and must be easy to understand. Avoid long, confusing and complex sentences. Remove redundancies and only talk about essential points. Avoid passive voice and minimise the use of prepositions. Avoid non-professional language. Draft the contract as if an 8th-grade student was going to read it. Keep the writing simple, clean and precise. Avoid jargon and confusions.

5.      Organise your Contract: When writing a contract, think of you creating a book and each clause you add represents a chapter in that book. Organise those clauses in such a way that your contract flows smoothly and talks about each point only once. Make sure you define terms used in the beginning of every section and feel free to reference to it later in the contract when required.

Choose your words very carefully, as a small mistake might cost millions in future.

We at pnjlegal.com offer professional contract drafting services.

We, "PNJ Legal Consultants" are one of the well known organizations engaged in providing Consultancy Services keeping in mind the Client Service Mentality.

We have a team of highly qualified professionals and time to time training is provided by us as per the requirements. Our team members deliver excellent performance in providing these services and our clients can avail the services at affordable prices.

Our sophisticated team has complete knowledge of various exercises and technicalities that are used in our services. Our services includes Strategy Consulting, GST Consulting, Asset Management, Feasibility Study, International Arbitration, Due Dilligence, Franchisee Consulting, Financial Audits, Operational Audits, Tax Heaven Registrations, Shareholder Agreements, Start up Consulting, IP Consulting, Taxation Services, Accounting system design and Mergers Acquisitions.

Contact at parascs@gmail.com or refer website www.pnjlegal.com

Whether you're planning to sell your business or take a loan, or to attract new potential finances and investors, and up to date business valuation is a must have. Simply just knowing the value of your business can help you proper manage your business and evaluate your position.

Here are three simple ways to determine your business' true value.

1.      Focusing on Assets of a business:  This is by far the simplest valuation method, simply add up all your investments and subtract all the liabilities. You can also do your business valuation on basis of liquidation asset-based approach. In the liquidation asset-based approach you simply have to determine net cash received if all your assets were to be sold.

This is one of the best ways to evaluate the present gross value of a company or a business. Especially useful when you are trying to sell your business or get a business loan.

2.      Focusing on Market Values:  This approach focuses on determining the value of a business by comparing it with similar businesses in the market which were either evaluated or sold recently. This method works for most small and medium-size businesses as there are hundreds of other businesses to compare to. But if your business doesn't have comparable businesses in the market, then determining the true value of your business by this method can be difficult.

Also for an individual, using this method can be a cumbersome task. Focusing only on current market values may under-estimate your business value. Especially if you are just starting out or planning to expand in near future. This method is best used by professional evaluators.

3.      Focusing on Future Earning Values:  This approach is by far the most popular method for business valuation. This method revolves around the idea that true value of any business is determined by its capacity to generate wealth in near future. This method is very popular among investors and shareholders as they always value future returns on their investments.

Using companies past earnings and current growth rate, you can easily determine future revenues of a company. Normalise the assumption for unusual expense or revenue and add in the risk factor to get a complete learning value based business valuation.

The best choice: Apart from these methods, there are number of other methods to evaluate your business. But the best way to find the true value of your business is through a combination of all three. Combining two or more methods together will give you the best selling price. These business valuation methods will also plan, strategize and expand your business as well as attract more shareholders and investors.

Never do your business evaluation by yourself, it is like asking a mother to describe her child. Of course, you are going to over evaluate or under evaluate your business. That is why we recommend valuation for business must be done by a professional. We at pnjlegal.com offer a complete business valuation services.

We, "PNJ Legal Consultants" are one of the well known organizations engaged in providing Consultancy Services keeping in mind the Client Service Mentality.

We have a team of highly qualified professionals and time to time training is provided by us as per the requirements. Our team members deliver excellent performance in providing these services and our clients can avail the services at affordable prices.

Our sophisticated team has complete knowledge of various exercises and technicalities that are used in our services. Our services includes Strategy Consulting, GST Consulting, Asset Management, Feasibility Study, International Arbitration, Due Dilligence, Franchisee Consulting, Financial Audits, Operational Audits, Tax Heaven Registrations, Shareholder Agreements, Start up Consulting, IP Consulting, Taxation Services, Accounting system design and Mergers Acquisitions.

Contact at parascs@gmail.com or refer website www.pnjlegal.com

Vaastu Shastra or Vastu is an ancient Indian way of arranging layout of your office, home or business in a way that will yield a beneficial result for the owner. Vastu Shastra works by balancing the five basic elements of nature fire, water, space, air and Earth. Following these ancient principles of Vastu Shastra can indeed help your business succeed.

Here are 7 important Vastu tips for your business.

1.    Your office building can face north, north-east or north-west directions. Having a building facing these directions brings good luck and positive energy.

2.    Main entrance should always face north or east, never place anything obstructing the main entrance as it also obstructs good luck and fortune.

3.    Central part of the building should be empty, private business rooms must be in Northeast corners.

4.    Placing an aquarium with one black fish and nine goldfish in the north-east direction can boost your business.

5.    Desks and other objects in the office should be either squares or rectangles. Never choose irregularly shaped furniture as it may create confusion and obstruct fortune.

6.    Your accounts departments must be in north-east part of the office and all the financial transactions should be done facing either East or North.

7.    Office of the owner should be in North-West direction, do not place temple or any other idols in this position.

Achieve Financial Success with Vastu Shastra:  Vastu Shastra affects every aspect of your business, from attracting new customers to increasing sells and staff productivity, Vastu Shastra can truly bring amazing results.  Vastu Shastra is indeed a true science, based on ancient principals of architecture and construction- which still stands true today.

To achieve financial success in your business following these Vastu Shastra principals might be helpful.

·        North is ruled by Kuber- the Indian lord of wealth, thus any business facing this direction is destined to make financial benefits, It is also important to keep your office obstacle free, as placing an obstacle in the north will also hinder the flow of wealth from the north and make your business suffer.

·        Safes and vaults should never be placed direction facing south, as this would lead to unfortunate expenses in the business. You can create safes and vaults in the centre to avoid any unconventional expenses and loss.

·        Water is associated with wealth. Keeping a fountain will increase the flow of water and wealth associated with it.

·        Increase the amount of plants in your office, as they will increase the indoor air quality and also stop money from flowing out of your office.

·        Electronic wiring should always be kept in the southern area of the building.

If you are starting a new business don’t forget to follow these simple Vaastu for business tips as Applying these simple Vastu Shastra tips will keep your business out of debts, prevent money shortages and increase cash flow.It will also help your business grow quickly and attract more customers.  However breaking or ignoring these rules may lead your business to serious debt, financial crisis, loss or bad luck.

We are creating hub of professionals who can bring synergies and bring cost effective solutions for clients corporates and start up enterpreneurs. PNJHUB.COM – New Revolution in Service Delievery.

We, "PNJ Legal Consultants" are one of the well known organizations engaged in providing Consultancy Services keeping in mind the Client Service Mentality.

We have a team of highly qualified professionals and time to time training is provided by us as per the requirements. Our team members deliver excellent performance in providing these services and our clients can avail the services at affordable prices.

Our sophisticated team has complete knowledge of various exercises and technicalities that are used in our services. Our services includes Strategy Consulting, GST Consulting, Asset Management, Feasibility Study, International Arbitration, Due Dilligence, Franchisee Consulting, Financial Audits, Operational Audits, Tax Heaven Registrations, Shareholder Agreements, Start up Consulting, IP Consulting, Taxation Services, Accounting system design and Mergers Acquisitions.

Contact at parascs@gmail.com or refer website www.pnjlegal.com