I am the founder of bikeduck.com website and I want to organize a bike rally event in Bangalore and that event need's sponsorship,as we are not a Pvt.Ltd nor any kind of company or organisation right now.Is there any legalization do I need to follow or can I simply ask for sponsorship?
Asked 3 years ago in Business Law from Bangalore, Karnataka
You should register your entity either as Proprietorship/partnership/pvt. Ltd company/partnership with limited liability to do any business. .
If you are organising the event without any expectation of profit, you can register your entity as trust and seek for sponsorship in the name of Trust
How do you propose to carry out the event? Is it going to be a profit making undertaking? It can be carried out as a company, sole proprietorship, trust or in partnership. Accordingly, you will need to make a deed incorporating the terms and conditions of the same, and also need the necessary clearances for the same. A contract will have to be made with all the participants therein.