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Launching a new company in Bangalore - LoneStar Informatics
In this post, I will talk about our new company - LoneStar Informatics LLP, with registered office in Bangalore.
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It has been more than a month since I relocated from USA to Bangalore. I started the priliminary work of setting up an office in Bangalore as soon as we reached here.
We operate 2 companies currently:
1. SpiderWorks Technologies Pvt Ltd, Kochi, India
2. SpiderWorks Technologies LLC, Nevada, USA
SpiderWorks Technologies Pvt Ltd has been in operation for last 6 years, with it's registered office in Kochi. When I decided to relocate from USA to Bangalore, I was in a dilemma whether to continue operations with SpiderWorks Technologies or not. One of the main concern I had was, it is registered as a "Pvt Ltd" company in Kerala. It has a lot of complexities and require a lot of formalities to relocate it's office to Bangalore. However, in order to hire employees and run the business from Bangalore, I need a business registered in Bangalore.
I could register a new business, but I did not want to lose the reputation and brand name I earned for SpiderWorks technologies in last several years. Almost every active member of my website know the name "SpiderWorks Technologies" and my websites are popularly known as Spider Network. So, I ruled out shutting down the SpiderWorks Technologies Pvt Ltd.
The next option was to keep SpiderWorks in operation, but open a new business in Bangalore. Since I already burnt my fingers by registering the business as a Pvt Ltd company, I wanted to try other options. The only other option known to me was "Partnership firm", which was not really an attractive choice as a business firm.
LLP - Limited Liability Partnership: A new business type in India
While I was thinking over the options, I happened to meet an old time friend who is currently running an IT company in Bangalore. I learnt about a new business type which was introduced in India only 2 years ago. It is called L.L.P, which stands for "Limited Liability Partnership" and is equivalent to the L.L.C in USA. LLP separates and protects my personal assets from the liabilities of the business, which is very similar to the Pvt Ltd company and different from Partnership firms.
A quick study about the L.L.P revealed a lot of good news for me. L.L.P offers almost all benefits of a Pvt Ltd company and takes away all formalities and complexities involved in running a Pvt Ltd company. This is exactly what I was looking for.
I decided to go ahead and register a new L.L.P while keeping SpiderWorks Technologies still running in Kochi. While SpiderWorks Technologies will continue to operate my current websites, the new business will manage all hired employees in Bangalore and will specifically operate my upcoming prestigious website "StudyVillage.com".
Why the name "LoneStar Informatics"?
 I did not have to think a lot for a name for the new company. We lived in Texas for most part of our life in USA and we enjoyed the best part of our family life there. Texas is nicknamed "LoneStar state", with a Star being part of the Texas flag. So, I wanted to have the name "LoneStar" in the new company name. Since we deal with information technology, I decided to include "Informatics" as well in the name. So, finally we came up with the name "LoneStar Informatics".
In fond memories of Texas, the LoneStar state, we chose the name "LoneStar Informatics LLP" for our new company, with the registered office in Bangalore.
We considered this name when we registered a business in USA, but finally decided to go for our "Spider" brand there. But this time, the sentiments towards Texas won. Another reason was, the SpiderWorks Technologies was already in use for our own Pvt Ltd company, so we obviously had to choose another name.
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| Guest Author: niloofar 24 Nov 2011 | Dear Mr.John
this is Niloofar.i read your site. and it's useful.i'm from Iran.
and im in CNC company. i think india is good for this indusry. there are more companies about CNC. and i want some information about register a company by farein people. please give me some data.maybe i come to Banglore .there is one exhibition about Automasion in 6-9dec so anyway thanks for your site.
best wishes
| | Guest Author: Cesar 31 Jan 2012 | [...] lkiely, even if the business is a separate legal entity distinct from the business owner, the entity is not liable on the card at all. The only connection to the business is the [...]
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