Business PRENUP: The Only Way to Start-up
Start-ups are the new in vogue business lingo. However, at their heart, they are nothing but corporations, partnerships, LLCs, LLPs, and the like. The Companies Act, 2013, Limited Liability Partnership Act, 2008 and the Partnership Act, 1932 are at the governing heart of these start-ups. Prenuptial Agreements, Antenuptial Agreements, or Premarital Agreements (commonly referred to as a Prenup), though unenforceable and thus non-existent in India, but prevalent in the US, are written contracts entered into by couples prior to marriage or a civil union that enable them to select and control many of the legal rights they acquire upon marrying, and what happens when their marriage eventually ends by death or divorce. Couples may also enter into written prenuptial agreements to supersede many of the default marital laws that would otherwise apply in the event of divorce, such as the laws that govern the division of property, retirement benefits, savings, and the right to seek ...