Avanti Poredi and Associates (Advocates and Legal Consultants)’s Post

Challenges faced in Start-up Corporate Sector and how ignorence of challenges can lead to legal issues: 1. A constant Attrition rates which create a collateral damage of high recruitment costs and instability in the Company. 2. Lack of streamlined audit process which leads to statutory non-compliance and penalties. 3. Lack of awareness on importance of internal POSH Committee and it's constitution. 4. Ignorence towards the importance of legal functions, while Business enjoys sole importance. 5. Investing in office spaces to more extent than necessary. 6. Top Category Employees close to management do not go through background verifications and due diligence. Mere expertise and business acumen are not sufficient qualifications to be working close to management. 7. Disguised Employment. The category of employees who push their responsibilities on others and become internal encouragement of gossips and rumors. This creates dis-harmony between employees. 8. Lack of proper handover process which creates lots of serious issues as half knowledge is dangerous. Often formation of Huge legal issues are a result of ignored challenges. Law is as important as Business operations. We believe prevention is better than cure. #legalindustry

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