Legal awareness is one of the most integral parts of decision-making for entrepreneurs – right from the time they starts to build a product to the development of exit strategies. Most of the time, they overlook legal issues in a passionate rush to get their startup to the market, which often set them back down the road and even reduces the chances of success over the time.
However, appointing a lawyer to look into the legal side of the startup is nothing but a costly affair and even paying hefty fees is unavoidable, but Chennai-based Vakilsearch has made law simple and affordable for startups by providing legal services online.
Started by Hrishikesh Datar in Chennai in 2011 after graduating from National Law School, Bangalore, Vakilsearch was an immediate success in the startup sector. He says, “The idea behind the business is simple: give people easy access to legal services at an affordable price over the Internet. From a handful of people in a terrace flat, we have grown to a 120+, with offices in Chennai, Bangalore and Hyderabad, and representatives in Mumbai and Delhi.”
From registering the startup to legal documentation and trademark registration, Vakilsearch has suite of legal services online under one roof. Other than lawyer’s services, they even have CA and CS services for applying for sales tax registration or filing your IT returns. All the services are based on pay per assignment model i.e. you only have to pay for the services you need.
The growth of Vakilsearch has been significant in the recent years, as he says, “In each year subsequent to 2011, we have managed to achieve 300% year-on-year growth. In all, we have serviced 120,000 customers, including well-known ones such as Taxi For Sure and Housing. While our focus is company incorporation and trademark registration, we also help with business expansion, legal documentation, accounting and tax compliance.”
On their website, they are also offering DIY service called “Make-A-Doc,” where legal documents such as affidavit, rental agreement, offer letter, relieving letter etc. available for free of cost. You just need to customize and print it.
“India is ranked 158th in the world in terms of ease of starting a business. And it’s even more tedious managing a business here, with our numerous compliances and legal requirements. These hassles drive many keen minds away from entrepreneurship and cause many other businesses to stay unorganized. We offer budding entrepreneurs with an easy solution to their legal problems.”
He further adds, “They don’t even need to leave their homes to incorporate their company, file a trademark and access accounting services, with vakilsearch. Moreover, we’re 70% cheaper than comparable lawyers and accountants in major Indian cities. So now entrepreneurs can simply look after their business while we take care of all the legal aspects of their business. This, we believe, goes a long way toward enabling entrepreneurship and, in turn, helping the economy.”
Earlier this year, Vakilsearch raised undisclosed amount of money from a round of Series A funding with Kalaari Capital. According to Yourstory, they are rebranding themselves soon as okitsdone.com, which will be India’s first DIY platform for professional services.
Speaking about the entrepreneurship opportunities in India, he said, “We believe there’s ample room for solving problems in India, and that every entrepreneur plays a huge role in alleviating the problems of the common man.”