Creating a Google for startups’ legal needs
Getting your company registered sitting at home, away from the hassles of running from pillar to post of a government office, seems to be a utopian concept.
However, a startup, vakilsearch.com pitches in to fulfill the need for having an organised player in paralegal services.
The four- year- old website provides services ranging from incorporating a company to getting you a PAN card at reasonable rates.
The startup was the dream of 29- year- old Hrishikesh Datar, who wanted to help similar startups in navigating through legal rigmarole.
While studying at the National Law University ( NLU), Pune in 2008, Hrishikesh used to discuss with his frie- nds the difficulties in incorporating a business.
During his stay at NLU, he visited Indian Institute of Management- Bengaluru ( IIM- B) where he presented the idea for a legal consulting website and got positive responses.
And with the ‘ entrepreneur’ bug in him, he launched his website on September 9, 2010, along with two other fellow college- mates with an investment of five lakh, which was borrowed from family and frien- ds.
Initially, the website provided only consulting services on legal matters. “It was similar to OLX where we connected the customers with our pool of lawyers for consulting and services,” said Hrishikesh. The Chennai- based company has more than 150 staff consisting of CAs, and advocates.
The business was not so great until March 2012. However, his decision to offer company registration and copyright services has turned around its fortunes.
Today, the company has a monthly business turnover of ` 20 to ` 25 lakh through incorporations, patents, IP services and provides more than 80 services on their website.
Pointing out the USP of vakilsearch.com, Hrishikesh says, “The website caters to people on a pan- India basis with its online consulting services and we charge reasonably compared to the market rate which is twofold of our charges”.
The website provides packages like incorporating a private limited company for ` 15,499. It includes providing digital signatures, DIN, getting the business registered till helping to draft MoA and AoA.
“However, a lawyer may separately charge for each of these which may push up the cost to ` 25,000,” says Hrishikesh.
Today, the website offers local services in seven to ten cities including Bengaluru, Chennai, Pune, Hyderabad and Delhi.
The website has garnered quite a reputation for itself as it had been taxation services to IT giants such as TCS. Recently, the Karnataka government announced M- one initiative in collaboration with vakilsearch.com to provide all government services online and also provide legal advises.