Author Topic: Regulatory Compliance For Indian IoT And Smart Cities Startups And Entrepreneurs  (Read 1247 times)

PTLB

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Internet of things (IoT) and smart cities startups and entrepreneurs are exploring various markets around the world for their products and services. India is heading towards becoming the biggest market for IoT and smart cities in the world. It is natural for the IoT and smart cities startups and entrepreneurs to explore Indian market for commercial gains. However, along with the profit making, these IoT and smart cities startups and entrepreneurs must also comply with many techno legal requirements as prescribed by Indian laws. These techno legal challenges are in addition to the funds challenges that IoT and smart cities startups and entrepreneurs are facing in India despite Indian government's pro active support in this regard.

Legal Compliance for Startups and Entrepreneurs in India are diverse and scattered in nature. A dominant majority of these startups and entrepreneurs are exploring and experimenting with the e-commerce segments. For instance, Indian startups and entrepreneurs have tried their hands upon fields like simple e-commerce portals, online gaming and gambling, online pharmacies, Ayurvedic preparations, online fantasy sports, bitcoin, telemedicine, e-health, mobile wallets, e-agriculture, digital payments, etc. The trends in this regard are going to be very interesting in thew year 2017 as per the Techno Legal Startups And Entrepreneurship Trends Of India 2017.

There is no single legal framework for these diverse fields and every field has to be analysed keeping in mind the specific and specialised laws applicable to it. However, cyber law due diligence (pdf) is one aspect that is common among all e-commerce activities of startups and entrepreneurs. This is especially required for IoT and smart cities startups and entrepreneurship projects as they rely heavily upon information and communication technology (ICT). When ICT and Internet are involved, complicated  techno legal cyber law, cyber crimes, cyber security, data protection, privacy protection and many more such issues are also involved.

Nevertheless, almost all of the IoT and smart cities startups and entrepreneurs are not complying with these techno legal regulatory compliance requirements of Indian laws. Not only this, most of these startups and entrepreneurs consider legal compliance as an unnecessary cost factor.

There is another aspect of non compliance with legal requirements by these IoT and smart cities startups and entrepreneurs. The cost of legal compliance can be a big hurdle for these stakeholders as the fields mentioned above require domain specific expertise. Perry4Law Organisation (P4LO) requests Indian Government to provide financial assistance to these startups and entrepreneurs so that they can comply with legal requirements as applicable to them. This can be done by Indian Government either by making the direct payment of the professional charges of concerned law firm/lawyer or by reimbursing the legal costs incurred by the startups and entrepreneurs as against an invoice raised/given by such law firm/lawyer.

IoT and smart cities startups and entrepreneurs are welcome to seek techno legal help of PTLB LPO or Perry4Law Organisation (P4LO), if they deem it necessary.

ALL RIGHTS RESERVED. NO PART OF THIS DOCUMENT SHOULD BE REPRODUCED OR USED IN ANY MANNER WHATSOEVER WITHOUT PRIOR WRITTEN APPROVAL OF PERRY4LAW AND PTLB.
« Last Edit: January 21, 2017, 09:58:50 PM by PTLB »