Article X - Legal Awareness Series

 Formal Documentation – Summary Thoughts.


As we move forward in the journey of development & growth of any business from “individual-based “customers to “society-based” customers the importance of proper documentation” to make the business deals successful and hassle-free becomes evident.

Every business entrepreneur goes through the stages of business growth:

  • Establishment of business
  • Getting market share
  • Sustainability
  • Stability
  • Overall Growth   

When the entrepreneur moves from individual to society-based customers, every entrepreneur should also simultaneously aim at moving ahead from society-based customers to corporate customers.

Corporate customers play a vital role in the development and growth of the business of the entrepreneur. The amount of business that a corporate customer generates is far more than that generated through a sizable group of individual customers.

The advantages of getting Corporate Customers are:

  • An entry into a competitive  market
  • Establishment of a  stable continuing business
  • A higher volume of business
  • Development of a brand name /goodwill in the market

Always remember that for any deal with any individual or a group of individuals or for that matter with Society consisting of groups  HOWEVER, when you are dealing with Corporate Entities -these entities always carry out formal and professional documentation with each person they deal with, irrespective of nature and value of the deal.  As such, each entrepreneur MUST know and understand all the legal contractual provisions and incorporate them in his formal documentation.

We shall study and understand these legal provisions in my forthcoming series of articles to understand their importance & implications. 


For any query feel free to contact me.


Mahesh Vaidya
M.Com, LLM, ACS, DFM, CAIIB  
Legal Adviser
Cell Number 9769949701 / 9223173695
Email ID maheshvaidya2706@gmail.com

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