By Prakhar Rai, Founder, My Legal Pal. Advocate, Bar Council of India. LL.B, NLSIU Bangalore. Master of Business Laws. Quick answer: To draft a contract in India, write the deal on one page first, name the correct legal parties, choose the document type, write scope, money and timing in plain language, add the India-specific terms […]
By Prakhar Rai, Founder, My Legal Pal. Advocate, Bar Council of India. LL.B, NLSIU Bangalore. Master of Business Laws. Quick answer: About 15.2 million trademark classes were filed worldwide in 2024, flat on 2023, and an estimated 93.2 million trademark registrations were in force, up 6.1% (WIPO, November 2025). China holds 49.8 million of those, […]
By Prakhar Rai, Founder, My Legal Pal. Advocate, Bar Council of India. LL.B, NLSIU Bangalore. Master of Business Laws. Quick answer: Agentic AI as a service (you will also see GaaS, AgaaS and AaaS) sells outcomes, not software access. The contract has to change with it. You define what the agent may do, price what […]
By Prakhar Rai, Founder, My Legal Pal. Advocate, Bar Council of India. LL.B, NLSIU Bangalore. Master of Business Laws. Quick answer: If your purchase order says one thing and your signed contract says another, a master agreement that says it overrides purchase orders usually wins. If there is no master agreement, the answer depends on […]
By Prakhar Rai, Founder, My Legal Pal. Advocate, Bar Council of India. LL.B, NLSIU Bangalore. Master of Business Laws. Quick answer: A company acts through people, so the person who signs must have authority. Authority comes from the company’s constitution, a board or shareholder decision, a power of attorney, or the person’s role. Most legal […]
By Prakhar Rai, Founder, My Legal Pal. Advocate, Bar Council of India. LL.B, NLSIU Bangalore. Master of Business Laws. Quick answer: A settlement agreement is a contract that ends a dispute on agreed terms. To make it hold, it must say exactly what each side pays or does, release the right claims, spell out what […]
By Prakhar Rai, Founder, My Legal Pal. Advocate, Bar Council of India. LL.B, NLSIU Bangalore. Master of Business Laws. Quick answer: An advisor agreement records what an outside advisor will do for your startup, for how long, and what they receive. It should cover scope, time, compensation, vesting, intellectual property, confidentiality, conflicts and termination. The […]
By Prakhar Rai, Founder, My Legal Pal. Advocate, Bar Council of India. LL.B, NLSIU Bangalore. Master of Business Laws. Quick answer: These clauses stop a business partner from going around you, dealing with your competitors or taking your people. Courts in most countries enforce them if they are reasonable in scope, territory and time, and […]
By Prakhar Rai, Founder, My Legal Pal. Advocate, Bar Council of India. LL.B, NLSIU Bangalore. Master of Business Laws. Quick answer: A good payment terms clause answers five questions in plain words: how much, when it falls due, what triggers the invoice, what happens if it’s late, and how a disputed invoice is handled. Most […]
By Prakhar Rai, Founder, My Legal Pal. Advocate, Bar Council of India. LL.B, NLSIU Bangalore. Master of Business Laws. Quick answer: A personal guarantee is your own signed promise to pay your company’s debt, or to perform its obligations, if the company can’t. The creditor can then go after your personal assets. It is a […]