Everything you need to know about software patent applications

This article was originally published on UpCounsel. You have a great new idea for what you hope is the next big app. You did your research and you could not find anything out there that is even remotely similar. You have brought together investors and are working with a team of developers and now you are wondering whether you can protect your idea by securing a patent. But is it patentable? Can you patent an…

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Sign up for Fetch, Shoeboxed’s new expense management product

Sponsored Content Shoeboxed, Inc. a veteran of small business SaaS solutions since 2007, is the worldwide leader in expense reporting and receipt management solutions.  Fetch, Shoeboxed’s newest product has a streamlined receipt submission process for employees which then batches receipts for approval and payment by team administrators. From the expense categories and icons your team uses to how often you’d like to be notified of expenses needing approval, you can adjust just about anything to fit your…

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Why share trading not a zero-sum game?

Traders provide value to investors as trading makes a stock liquid, helping stock price reach closer to its intrinsic value. Suppose there is no trading for Google and a particular investor wants to exit. He/she may have to sell at a discounted price, lower than the intrinsic value of the share.  In the worse case, he/she may not be able to sell at all on a particular day!  What happens if you need to sell…

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Organic growth and inorganic growth: An insight

The term ‘organic’ denotes the way living beings develop from the womb (internal growth). Time plays a crucial role. Inorganic growth is like assembling built parts (organs) into a system. This is how Investopedia explains: There are two ways for human beings to keep our heads warm. We can grow hair, or we can put on a hat. It takes a while to grow hair, but we create it ourselves. We do not have to pay money for…

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Online lending platforms for loans when banks refuse

You are a budding entrepreneur with a bright idea but do not have enough time/resource/ knowhow to prepare detailed project report/business plan which is a precursor to getting loan/capital for a startup business. Or, maybe you are an established entrepreneur who supplied goods on credit but finding it difficult to meet day-to-day cash obligations. Whatever your financial needs as an entrepreneur may be, you usually opt for business loans. Availing such business loans at easy, affordable terms is sometimes difficult from banks because of a lower credit score.…

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The Big Short: Inside the Doomsday Machine by Michael Lewis

Author Michael Lewis in his book The Big Short: Inside the Doomsday Machine (2011) narrates his experience as a Wall Street insider for a time period spanning over 20 years highlighting fallacies of newer financial products like subprime mortgages, collateralized bond obligations (CDOs), credit default swaps (CDS) introduced by financial houses starting from the 1980s and popularized vigorously during the 1990s and the first decade of this century in the run up to a terrible economic recession beginning 2008.…

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Invested in equity shares? Consider starting business of share trading with zero cash

The Lunchtime Trader by Marcus de Maria You are holding equity shares of companies listed on stock exchanges. Maybe, your shares are lying for years, and you have not bothered to check their prices. Or, it may be that your target price is not met, and you prefer to wait. You are satisfied with your holdings and would not consider selling them because of growth that the company/companies recording and/or dividends distributed. In such scenarios,…

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Case study of training arm of an outsourcing firm from Kolkata while looking how training can be made part of the revenue model

We take an example of medical transcription (MT) firm Transvision (name changed) established in 2001. The promoters were already established in the manufacturing business. They initially had a modest work-facility-cum-training center at a remote area of South Kolkata. In March 2006, their 24×7 work facility shifted to a posh locality in South Kolkata. By October 2007, their training center, an important part of their revenue model throughout, too shifted along with the work facility. It…

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Buying a franchise? Few points to consider

If you are having adequate capital and looking to start a new business, you can consider buying a franchise of an existing brand. The advantage is that you need not introduce or convince from scratch to local populace about the product. The product is already popular and you reap the value of the brand in your locality/area. There is, however, no free lunch. As a franchisee, you will be asked to pay a price for the brand value…

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3 components of brand name and a business idea for freelancers and investors

Here are three components of a brand name to start with:  Brand name itself (Google)  Logo Domain name (google.com) According to Margot Bushnaq, founder of BrandBucket, there are eleven features that make up a good brand name (How to Choose a Business Name – An Introduction): Top Level Domain or TLD Length Real Word/Expression Alphabet Pronunciation Spelling Conflicts Industry Match Longevity Uniqueness General Retention It is easier to assign score to TLD (.com commanding greater weightage than…

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The role of Income Tax Department of India and how effectively it played its role during and after demonetization

Direct taxes are computed directly on the income of a person, rates depending on the level of income. These include income tax, real property tax, personal property tax, taxes on assets. It’s charged to individuals, co-operative societies, firms, companies, Hindu Undivided Families (HUFs), trusts and any artificial judicial person. The Income Tax Department or IT Department is a government body monitoring the income tax collection by the Government of India. Central Board of Direct Taxes…

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Skills helpful and trending in accounting

Preparing invoices, payroll reports, cash flow reports, balance sheets, forecasting future incomes are some of the common duties of an accountant while filing taxes for a company. The first skill required for an accountant is that he or she should feel comfortable crunching numbers, irrespective of the tools in possession from a basic calculator to advanced ERP (Enterprise Resource Planning) software. Presenting financial reports in an easy-to-understand manner while following Generally Accepted Accounting Principles (GAAP) / International Financial…

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Professional courses to look for while making a successful career in accounting in India

Unlike other fields like software development where your work speaks, it is not possible to enter into the domain of certain types of accounting without a professional degree. The three most popular professional degrees in India are CA or Chartered Accountancy (by the Institute of Chartered Accountants of India), ICMA or The Cost and Management Accountancy (by the Institute of Cost Accountants of India), and CS or Company Secretaryship (by the Institute of Company Secretaries of India). As per the prevailing law,…

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Accounting and career prospects

For an individual or family, it is pertinent to know how much is spent on overheads like food, home rent, and traveling (taught as part of the home science curriculum, popular among girls to-be-future housewives). For a business house, similar overheads can be catering, office rent, and business travel. The big difference between accounting records kept by an individual or family and a business house is that business house and proprietor of the business house…

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Direct plan in mutual fund: Time for distributors to adapt by leveraging content sharing and adding new services

Direct plan in mutual fund means investors can directly invest in mutual fund schemes without involving distributors or mutual fund brokers through AMC website. Because of no distribution fees or trail fees paid to mutual fund brokers for such mutual fund schemes, expense ratio would be lower as compared to regular plans (investing through distributors/mutual fund brokers) thereby giving investors higher returns (0.5% to 1.5% p.a. depending upon the AMC expense ratio) compared to regular plans. The hard truth…

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Relevance of face-to-face marketing for life insurance agents in India

Like many other businesses before the advent of the internet, face-to-face contact was considered essential in selling a product and insurance is no exception with agents bringing a bulk of business for an insurance company. Now, at a time when direct sale of insurance policies by visiting the website of an insurance company or use of comparison websites is picking up because of the internet that eliminates intermediaries like agents, the role of agents, especially in cities and towns with…

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4 things to define in project report when it comes to value creation and how online marketplaces like Amazon fare

When starting a new business, a project report (also called business plan) that analyses among other things prevailing market condition, investments required in short-term and long-term, and anticipated risks is crucial. Here are the four things to define while preparing project report for your business when it comes to value creation: What value your business intends to provide. To whom your business seeks to provide this value. What resources/partnerships your business can mobilize to provide the value. How your business will…

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Gold economics in the time of falling international prices of gold

Last updated:  Nov 27, 2016 India closely followed by China is the largest importer of gold. Around half of the imported gold is used in gold jewelry. Also, gold is a place to invest for tens and thousands of middle class and an upper-class populace who find real estate tricky and stock market underperforming for the last five years. At a time when the price of gold in the international market is down by more than 30…

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Term plan versus pure endowment plan and insurance-cum-investment products in between

Life insurance products are designed for lifestyle protection, children and retirement fund planning, while income tax rebate induces individuals to buy insurance policies. From an operations research (OR) perspective, there is a given insurance cover for which tax savings, sum assured (survival benefit or death benefit), return on investment is maximized given your age, current and projected yearly income and expenditure, and no. of dependents. Case study: A is a 40-year-old sales professional working in a…

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How investing in bank stocks different from the rest?

The business of banking falls under priority services and all banks whether public or private in India need to comply with stringent guidelines by the RBI. While NPAs (nonperforming assets) are part of their businesses, there is a limit set by RBI as part of good governance. New banks are allowed to float only after they demonstrate they are here for a long run. While steel plants and the business of jewelry should also be relevant for years…

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Debate regarding life insurance agents restricted to sell insurance policies of only one insurance company

In India, Insurance Regulatory Development Authority is the government body regulating the insurance market. Included in the role is “specifying requisite qualifications, code of conduct and practical training for intermediary or insurance intermediaries and agents.” Current regulations by IRDA restrict individuals to act as agent for only one life insurance company at a time (exclusivity clause). This may appear surprising keeping in mind that one of the goals of IRDA is “promoting efficiency in the conduct of…

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Selling accounting software to retail shops in India

Installing accounting software in retail shops is happening at a fast pace in India. Still, there are tens and thousands of retail shops from local hosiery retailers to groceries yet to be computerized. It is either ignorance or cost that holds owners back. They are worried of data loss, backup and think that existing manual system is rather serving purpose well. From sellers of accounting software point of view, important thing then is to convince shop…

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