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New Delhi, Water and sewerage infrastructure company <keyword id="18627479" type="General" weightage="80" keywordseo="ems-limited" source="Orion">EMS Limited</keyword> on Monday announced the price band of Rs 200-211 per equity share for its upcoming IPO. Set to open on Friday, the IPO for aggregating Rs 14,624.00 lakh through fresh issue of Equity Shares &amp; 82,94,118 equity shares under Offer for Sale by the Promotor, <keyword id="287401" type="General" weightage="80" keywordseo="ramveer-singh" source="Orion">Ramveer Singh</keyword>. The company's issue will open for the anchor portion on Thursday, 7th September 2023, and will close for the public on Tuesday, 12th September 2023. At the upper price band, the company's IPO size would be Rs 320-321 crore. Proceeds from the fresh issue will fund working capital requirements and other general corporate purposes. Khambatta Securities Limited is the sole Book Running Lead Manager to the Issue, while KFin Technologies Limited is the Registrar to the Issue. The company already completed the pre-IPO placement of 16,00,000 equity shares at an issue price of Rs 211, aggregating Rs 33.76 crore. Accordingly, the size of fresh issue was reduced to Rs 146.24 crore and an offer for the sale of 82.94 lakh shares by promoter Ramveer Singh. At present, Singh holds a 97.81 per cent stake in the company. Incorporated on December 21, 2010, <keyword id="48098" type="General" weightage="100" keywordseo="ems" source="Orion">EMS</keyword> provides various services, ranging from EPC and O&amp;M, in sewerage solutions, water supply systems, and wastewater schemes for government authorities and local bodies. Headquartered in Ghaziabad, the company offers water and sewerage infra solutions, including laying the sewerage network to building sewerage and water treatment plants in the states of Uttar Pradesh, Bihar, Uttarakhand and Rajasthan. With a net margin of around 20 per cent, the company expects to continue focusing on only high-margin integrated projects. The company also undertakes Operations and Maintenance mandates for the projects it has executed. EMS Ltd's 100 per cent projects are works related to tenders floated by government or semi-government agencies funded through the World Bank. The company has executed 67 projects over the past 13 years and has an order book of Rs 1,745 crore, comprising 18 ongoing projects across WWTPs, WSSPs, EPS, and HAM segments. Most of its projects have been executed across Bihar, Uttarakhand, Madhya Pradesh, Rajasthan and Haryana. The company's total revenues from operations stood at Rs. 538.16 crore for FY2022-23 against Rs. 359.85 crore for FY2021-22. The EBITDA for FY2022-23 stood at Rs 149.01 crore (against Rs 112.51 crore in FY2021-22), and PAT stood at Rs 108.62 crore (against Rs 79.04 crore in FY2021-22).

Water infrastructure company EMS sets IPO price band at Rs 200-211/share

<ul><li>The offer is a combination of fresh issue worth ₹320 crore and an offer for sale (OFS) of ₹545 crore.</li><li>The price band of the issue has been set at ₹415 - ₹436 per share.</li><li>The company intends to utilise the fresh issue towards debt repayment, funding working capital requirements and general corporate purposes.</li></ul>The electronic manufacturing services company <keyword id="14685095" type="General" weightage="20" keywordseo="Avalon-Technologies" source="Orion">Avalon Technologies</keyword> is all set to open its initial public offering (IPO) of shares on April 3 and close on April 6. The price band for the issue has been set at ₹415 - ₹436 per share. Shares of the company were already commanding a premium of ₹25 per share in the grey market. <a href="https://www.businessinsider.in/stock-market/news/grey-market-premium-what-is-it-and-where-is-it-coming-from/articleshow/95454371.cms">GMP is the premium at which IPO shares are traded</a> in an unofficial market before they are listed on the stock exchanges. The offer is a combination of fresh issue worth ₹320 crore and an offer for sale (OFS) of ₹545 crore. The company has reduced the size of its IPO from ₹1,025 crore it had planned to raise earlier. As per reports, the company cut its IPO size after it completed a pre-IPO placement – carried out between October 2022 and February 2023 – amounting to ₹160 crore. The company intends to utilise funds raised via the IPO towards debt repayment, funding working capital requirements and general corporate purposes. The company’s total net debt rose to ₹283 crore in FY22 from ₹261 crore in the previous financial year. Avalon is an end-to-end electronic manufacturing service solutions provider founded in 1999. Some of its key clients include Kyosan India, Zonar Systems Inc, Collins Aerospace, e-Infochips, The US Malabar Company, Meggitt (Securaplane Technologies Inc) and Systech Corporation. It has 12 manufacturing units located across the US and India. The company says it can also benefit from the tailwinds of Aatmanirbhar Bharat and the production-linked incentive Scheme (PLI). About 75% of the issue has been reserved for qualified institutional investors, 15% for non-institutional investors and the remaining 10% for retail investors. Shares of the company will be listed on BSE and NSE on April 18. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EBITDA margin </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹840 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹68 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.60% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹690 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹23 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9.58% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹641 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.05% </td></tr></tbody></table>Source: RHP The company said it goes through huge competitive pressures in its business, which would be detrimental to its future prospects. “We face significant competition in our business. The markets for our products are characterised by factors such as rapid technological change, the development of new end products and their rapid obsolescence, evolving industry standards and significant price erosion over the life of a product,” said the company in its red herring prospectus. Its key competitors include Indian EMS providers such as Dixon Technologies (India), Amber Enterprises India, Elin Electronics, Syrma SGS Technology, Kaynes Technology India, VVDN Technologies and Bharat FIH Limited. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/hiring-outlook-remains-strong-for-blue-collar-jobs-in-manufacturing-and-services-in-q1-2024/articleshow/99060293.cms">Amid layoff doom, hiring outlook remains strong for blue-collar jobs in manufacturing and services: TeamLease</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/reits-and-invits-become-attractive-after-major-taxation-overhang-removed/articleshow/99058405.cms">REITs and InvITs become attractive after major taxation overhang removed</a>

Electronic manufacturing services firm Avalon Technologies’ ₹865 crore IPO to open on April 3

<ul><li>The IPO received fairly decent demand from retail investors as 16% of the shares reserved for them were subscribed.</li><li>The price band of the IPO is set at ₹415-436 per share.</li><li>The shares of the company are currently commanding a grey market premium, or GMP, of ₹30 per share.</li></ul>Only 3% of the initial public offering of <keyword id="14685095" type="General" weightage="20" keywordseo="Avalon-Technologies" source="Orion">Avalon Technologies</keyword> was subscribed on the first day of the IPO, on Monday. However, it did receive fairly decent demand from retail investors as 16% of the shares reserved for them were subscribed. Qualified institutional buyers (QIBs) however made no bids at all, for the IPO. The IPO will close on April 6, 2023. The offer is a combination of fresh issue worth ₹320 crore and an offer for sale (OFS) of ₹545 crore. The company has reduced the size of its IPO from ₹1,025 crore it had planned to raise earlier. As per reports, the company cut its IPO size after it completed a pre-IPO placement – carried out between October 2022 and February 2023 – amounting to ₹160 crore. The price band of the IPO is set at ₹415-436 per share. The shares of the company are currently commanding a grey market premium, or GMP, of ₹30 per share. <a href="https://www.businessinsider.in/stock-market/news/grey-market-premium-what-is-it-and-where-is-it-coming-from/articleshow/95454371.cms">GMP is the premium at which IPO shares are traded</a> in an unofficial market before they are listed on the stock exchanges. The company intends to utilise funds raised via the IPO towards debt repayment, funding working capital requirements and general corporate purposes. The company’s total net debt rose to ₹283 crore in FY22 from ₹261 crore in the previous financial year. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category of investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription status </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified institutional buyers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.00 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.01 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.16 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Overall </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.03 times </td></tr></tbody></table> Avalon is an end-to-end electronic manufacturing service solutions provider founded in 1999. Some of its key clients include Kyosan India, Zonar Systems Inc, Collins Aerospace, e-Infochips, The US Malabar Company, Meggitt (Securaplane Technologies Inc) and Systech Corporation. It has 12 manufacturing units located across the US and India. The company says it can also benefit from the tailwinds of Aatmanirbhar Bharat and the production-linked incentive Scheme (PLI). Analysts have recommended subscribing to the IPO on strong growth prospects in the Indian electronic manufacturing services (EMS) industry. “Considering the healthy business prospects for the Indian electronic manufacturing services (EMS) industry, company’s high return ratios and similar margins relative to peers and valuation comfort at 55.5x P/E on annualised FY23 financials, we recommend ‘subscribe’ to the issue,” said analysts at Reliance Securities. The company’s key competitors include Indian EMS providers such as Dixon Technologies (India), Amber Enterprises India, Elin Electronics, Syrma SGS Technology, Kaynes Technology India, VVDN Technologies and Bharat FIH Limited. “Its unique offering and B2B model help Avalon with long-term relationships with its diverse customers, ensuring incremental order book and steady margin. We recommend ‘subscribe’ for the long term,” said a report by Canara Bank Securities. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-group-stocks-tumble-amid-reports-of-sebi-probe-group-market-capitalisation-falls-by-22000-crore/articleshow/99214962.cms">Adani group stocks tumble amid reports of SEBI probe: Group market capitalisation falls by ₹22,000 crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/india-incs-credit-quality-continues-to-shine-in-fy23-slowdown-concerns-could-impact-it-textile-sectors-says-icra/articleshow/99211589.cms">India Inc’s credit quality continues to shine in FY23: Slowdown concerns could impact IT, textile sectors, says ICRA</a>

Avalon Technologies’ IPO subscribed 3% on the first day of issue

San Francisco, If you own a <keyword id="6521534" type="General" weightage="80" keywordseo="pixel-watch" source="Orion">Pixel Watch</keyword> and accidentally breaks its screen, then getting it officially repaired by <keyword id="6355629" type="General" weightage="100" keywordseo="google" source="Orion">Google</keyword> isn't in the cards. On Reddit and Google support forums, a number of Pixel Watch owners have taken out their frustrations about the inability to replace cracked screens, reports The Verge. In it, a support representative stated that Google "doesn't have any repair centres or service centres" for the device. "At this moment, we don't have any repair option for the Google Pixel Watch. If your watch is damaged, you can contact the Google Pixel Watch Customer Support Team to check your replacement options," Google spokesperson Bridget Starkey was quoted as saying. Starkey also pointed to Google's hardware warranty policy, which states, "this Limited Warranty does not apply to damage caused by -- (1) normal wear and tear; (2) accidents; (3) misuse (including failure to follow product documentation); (4) neglect; (5) disassembly; (6) alterations; (7) servicing other than by Google-authorised technicians; and (8) external causes such as, but not limited to: liquid damage, exposure to sharp objects, exposure to excessive force, anomalies in the electrical current supplied to the Google product, and extreme thermal or environmental conditions." According to the report, this kind of warranty means leaving owners on their own to deal with damage caused by drops or accidental strikes, and as per Google's Store, there is no option for an extended warranty to go with a Pixel Watch. If users' Pixel Watch is accidentally damaged, then they are on their own. Meanwhile, California passed a right-to-repair law requiring companies to offer replacement parts for electronics priced $50 and higher for three years, and for $100 and higher for seven years. SEE ALSO:<a href="https://www.businessinsider.in/science/space/news/what-is-navic-why-government-wants-to-make-mandatory-for-smartphones-explained/articleshow/103683244.cms" target="_blank"></a> <a href="https://www.businessinsider.in/science/space/news/what-is-navic-why-government-wants-to-make-mandatory-for-smartphones-explained/articleshow/103683244.cms" target="_blank">Explained: What is NavIC, developed by ISRO, that the government wants to make mandatory for smartphones</a><a href="https://www.businessinsider.in/tech/mobile/webstories/honor-90-vs-oneplus-11r-comparison-of-mobile-price-and-features-under-40000/slidelist/103687013.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/honor-90-vs-oneplus-11r-comparison-of-mobile-price-and-features-under-40000/slidelist/103687013.cms" target="_blank">Honor 90 vs OnePlus 11R – the mid-range smartphone to consider under ₹40,000</a><a href="https://www.businessinsider.in/stock-market/news/ems-ipo-allotment-how-to-check-allotment-status-and-gmp-value/articleshow/103668176.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/ems-ipo-allotment-how-to-check-allotment-status-and-gmp-value/articleshow/103668176.cms" target="_blank">EMS IPO allotment – how to check allotment, GMP, listing date and more</a>

Google won't fix broken Pixel Watch screens

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Thomson ReutersTraders work on the floor of the New York Stock Exchange</div></div></div>Via Dave Lutz, head of ETFs at JonesTrading, here's a super-quick guide to what traders are talking about right now:Good Morning! The S&amp;P is hanging near all-time highs as the Smallcaps pop 20bp early. The Euros are not in a good mood, as Banks stress tests has Italian Banks whacked for 4%. Unicredit Limit Down. EU Fins off 2.3% has Euro-Stoxx nearing off 1%. Germany acting better tho, basically flat as HC and Tech Rally. FTSE off 20bp as the miners are staging a rally - and volumes are actually trading a hair heavier than July's average turnover. In Asia, Shanghai continues to stress about a fresh regulatory crackdown, coupled with fresh IPOs lost 90bp, but Aussie added 50bp, led by mining and energy stocks - Nikkei added 40bp into the cabinet meeting tonight to approve Abe's stimulus - and EM Asian shares are hitting a 1Y high. Havens are under pressure - Gold retreating from 3week highs, and Doves are selling the Treasuries as Dudley comments overnight has Fed Funds at 30% for December, down from a 50% chance of a hike. The DXY is bouncing from last week's smackdown - as the Yen had initially retraced some of Friday's Strength, but that $/Y is now falling close to unchanged. The Pound weaker as Bank of England is expected on Thursday to cut - Aussie $ is getting whacked into RBA tonight, while weaker Eurozone manufacturing PMI weighs on Euro. Commodities are mixed, with Industrial Metals supported by stronger Chinese PMI data, while Oil is down over 1% as Iraq Exports Jumped. Softs look weaker across the board. Very light day on the calendar, with only Markit US Manufacturing PMI at 9:45, just ahead of the official ISM Manufacturing and Construction Spending prints at 10. The House and Senate in recess until Sept. 6, and I expect a sea of "Out of Office" responses from my blogging today….. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/tony-robbins-physiology-emotion-state-feel-better-2016-7">TONY ROBBINS: This simple trick will make you more assertive in 2 minutes</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="ZkOWUxNTE6LXug0Xr04L_NgmoD3iVtCc" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Here's a super-quick guide to what traders are talking about right now

<div type="image" msid="51037898" hostid="261"></div>

 
It was a quaint Tuesday morning. I was sipping my first Coffee and clearing my browser’s search history. The laptop beeps. A media invite! Aaaah, awesome lunch awaits. I’m all set to kick down the gate of our building, but wait, what the… 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=U.S+Chamber+of+Commerce">U.S Chamber of Commerce</a>? <a href="http://www.businessinsider.in/searchresult.cms?query=Global+Intellectual+Property+Center">Global Intellectual Property Center</a>? <a href="http://www.businessinsider.in/searchresult.cms?query=Innovation">Innovation</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Intellectual+Property+Rights">Intellectual Property Rights</a>? This ain’t making sense. 
 
Why do you need IP! I’m fine with ‘IP’ till its Internet Protocol. <a href="http://www.businessinsider.in/searchresult.cms?query=Intellectual+Property">Intellectual Property</a>? That’s trouble. We don't need more paperwork! 
 
Ever watched <a href="http://www.businessinsider.in/searchresult.cms?query=Shark+Tank">Shark Tank</a>? They crib so bad for an IP. ‘<a href="http://www.businessinsider.in/searchresult.cms?query=Big+Boss">Big Boss</a>’ and ‘<a href="http://www.businessinsider.in/searchresult.cms?query=Roadies">Roadies</a>’ have convinced me that reality shows show anything but the reality. My Journalist DNA creaks. 
 
I kit up. Notebook. Check. Recorder. Check. Water Bottle. Check. The self-righteousness falls into place. 

	<div type="image" msid="51038022" hostid="261"></div>

 I step into the hotel lobby to soaring background music, and meet Mr. <keyword id="2537615" type="UNKNOWN" weightage="100" keywordseo="Patrick-Kilbride">Patrick Kilbride</keyword>, Executive Director, International IP at <keyword id="610701" type="ORGANIZATION" weightage="60" keywordseo="Global-Intellectual-Property-Center">Global Intellectual Property Center</keyword> to understand what the hullabaloo about this <a href="http://www.businessinsider.in/searchresult.cms?query=Intellectual+Property">IP</a> thing really is about. 
 
I don't care what you say! Tell 'em Donald! 

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You heard him. I warned you! 
 
I slip into the shoes of a young Indian startup, and start to hurl the most hostile of questions at Patrick. Don’t worry Young India, as a journalist, I’ll do my job! 
 
Why should I care for an IP? If you’re bringing something to the market that we haven’t seen before, you should register your <keyword id="388837" type="UNKNOWN" weightage="80" keywordseo="intellectual-property">intellectual property</keyword>. 
 
You can then take that to potential investors, financiers or even crowd-sourcing. It can help you take your first steps into developing your idea into a business. 
 
My idea’s my idea. Nobody does it better than me any way. 
People can steal your idea/work, and make money from that. You don’t have the opportunity to monetize then. There are fewer chances of you being able to do the next big thing you’re planning. 
 
It’s like leaving your Ferrari unlocked with the keys inside. 
 
It’s a free world. People can have the same ideas as I do! 
True, However, you might say ‘I have a great idea, I’ll try to follow it up’, but with an <a href="http://Comic speech bubbleshttp://www.businessinsider.in/searchresult.cms?query=Intellectual+Property">IP</a> can reach a much broader audience by leveraging all the opportunities. Think of it as a micro-fund. 
 
What Opportunities? How does IP help me get foreign investment? 
You shouldn’t start with thinking about foreign investment. 
 
Unless you got your basic <a href="http://www.businessinsider.in/searchresult.cms?query=Intellectual+Property">IP</a> right it becomes difficult to sell the idea to anyone. 
 
You know <a href="http://www.businessinsider.in/searchresult.cms?query=Shark+Tank">Shark Tank</a>? 
 
*Aside* Told you he was trying to sell that idea in India? 
 
It’s too costly for me. 
The Indian government has realized an opportunity here. They’ll help patentees with subsidies. 
 
The <a href="http://www.businessinsider.in/searchresult.cms?query=Startup+India">Startup India</a> programme itself is to identify people with ideas who may not have all the resources to register an IP and help them do that with services and consultation. 
 
In the US if you have an <a href="http://www.businessinsider.in/searchresult.cms?query=Intellectual+Property">IP</a> you can probably raise enough money to reimburse the registration. In India it’s a bit more difficult. 
 
How can I update my IP as my B-Plan changes? 
Ideally you don’t hold onto an IP like that. You can share it with the world. You get money in return for a period of exclusivity. 
 
You can monetize your IP even if your business progresses in a different direction. 
 
How much money could I possibly make by selling my IP rights? 
The sky’s the limit! Ask Larry Ellison, Steve Jobs or Bill Gates. 
 
Not everyone’s going to get rich from every idea. You truly have to revolutionize something to make that kind of money. 
 
In case my company gets acquired, what do I do? Just hand over the IP to my Boss? 
If you’re incorporated then IP is an asset of the parent company. 
 
If it’s registered to you as an individual, it’s a different situation. 
 
Wow. Can I get more money from my IP? 
If you can convince the buyer of the value of the IP, then yes. It’s got to be solid. If it’s questionable, and the rules might change, then we have a problem. 
 
How do I ensure the right value for my IP? 
IP is the forward edge of technology. 
 
When Mark Zuckerberg created Facebook nobody knew its value. When it launched an IPO no one was sure what the value of the initial stock should be. You’ve to look at similar offerings and what it can potentially do for people and business. 
 
Ultimately anything’s worth as much as anybody’s willing to pay for it. 
 
Can I get my IP back if I’ve sold it? 
If the period of exclusivity isn’t over you’ve to come to an agreement. 
 
If you’re the innovator, you know what the next big thing will be, and can create a new IP. That’s how it works. 
 
If I and my Co-founder fall apart, what do I do? I tear the IP Certificate and give a half to him? 
There’s no difference between any other asset within the business and an IP. 
 
It’s just that it’s an asset that’s tradable, but not divisible. 
 
I got a new co-founder. Can I get his name on my IP? 
As a contractual matter anything’s possible. 
 
Wow, that’s dangerous. Should I trade around with IPs too much? 
If it becomes the foundation for your business model, you should do everything legally to reserve your rights. That way you’ll have the courage to move forward if anything goes wrong. 
 
I think some guy in Singapore/Thailand’s trying to copy my idea. How can I sue that bastard? 
 
You’ve got to rely on their domestic laws, and the international agreements India has with that country. 
 
This is why we’re encouraging governments to have a strong IP model. There are still many parts of the world where you can do pretty much nothing about it. 
 
…if it’s a guy in Hyderabad/Bangalore? 
The penalties for infringement are currently not strong enough to be a deterrent. It’s more likely that you’re going to be ripped off. You’ve to take that into account. It can have a depressing effect on creativity. 
 
Is there a one-stop solution to find who’s infringing on my rights? 
Nope. 
 
You can search trade-mark registrations to ensure you’re not in infringing on someone else’s. 
 
A lot of work is being done with Internet Service Providers. They’ll help take down any infringing material. It’s not easy though. 
 
Hmmmm….looks like I was...these guys are trying to help… 
 
No! I’m a Journalist! Let’s just pretend I’m never wrong. 
 
Back To Work!

Do Indian startups really need Intellectual Property Rights?

<div class="image-container float_right" style="width:400px"><div class="image"></div>Apple</div>SAN FRANCISCO, March 11 (<keyword id="76338" type="CITY" weightage="60" keywordseo="Reuters">Reuters</keyword>) - Last spring, the future for Viddy, a video-sharing <keyword id="6354576" type="CITY" weightage="60" keywordseo="Facebook">Facebook</keyword> app, seemed as sunny as southern California's skies.
Based a block away from Venice Beach, the 30-person startup impressed prospective investors with skyrocketing user growth figures and won funding from them at a $370 million valuation. The tech press hailed it as the "Instagram for video," potentially ripe for a billion-dollar-plus buyout. Justin Bieber wanted to invest - and the pop star eventually did just that.
But this month, the company fired its chief executive, laid off nearly half of its staff and blamed plummeting user numbers on something it once believed to be its ticket to success: Facebook Inc.
"Everyone has known for years that Facebook can be a huge driver of traffic, but Facebook also frequently changes who gets traffic," said Brian O'Malley, a Viddy director and a partner at venture capital firm Battery Ventures, which is an investor in Viddy. "We certainly didn't anticipate the decline."
Viddy's dramatic reversal of fortune is a common tale among builders of software and services that rode the No. 1 social network to viral stardom, only to plummet when Facebook made one of its frequent changes in the way third-party <keyword id="6354741" type="UNKNOWN" weightage="60" keywordseo="Apps">apps</keyword> can communicate with and solicit customers.
Investors and entrepreneurs say that the unpredictable way that Facebook cuts off apps or suppresses their presence has made them increasingly wary of building companies that rely on Facebook. Some believe Facebook could eventually attract regulatory scrutiny because of its ability to make or break companies that rely on its billion-strong base of users.
Douglas Purdy, Facebook's director of developer products, said the company boosts traffic to apps that prove to be popular and takes it away from those that overwhelm people with notifications or are otherwise abusive or unpopular. In the past year and a half, Facebook has cut down spam complaints by 90 percent, he said.
"We don't want to be in the business of king-making," Purdy said. "In the end, users decide what they care about, and they have control over it. If you're a great developer and you're good at sharing really good content, you're going to get traffic."
He declined to comment on relationships with individual developers.
Developers sympathetic to Facebook say that the company has rightly prioritized its users, who could abandon the network if they feel overwhelmed by solicitations from apps.
"Facebook thinks first and foremost about the user," said Riccardo Zacconi, the chief executive of game maker King.com. "For companies that were relying 100 percent on virality, there's been a negative impact, but it's been a better user experience."
Viral growth occurs when current users recruit other users, by inviting them to join, touting the content or sharing an application.
It is not clear if Viddy and other firms who have partly blamed Facebook for declining fortunes would have run into difficulties eventually anyway as, for example, rivals came out with new products.
HOT STARTUPS
But as consumers spend increasing time on mobile devices, disaffected developers could choose to focus on marketing their apps directly to Apple Inc's App Store and Google Inc's Play market - two platforms that compete with Facebook.
"Facebook is in a platform battle that they're losing right now," said Nabeel Hyatt, a partner at Spark Capital, a venture capital firm that has backed rival social media companies like Twitter and Tumblr. "When we have startup companies coming in and presenting about where they're going to get users, most of those conversations are aboutiOS and then Android, and then maybe Facebook."
For hot startups, the Facebook platform used to be "the cocktail party you had to be at," Hyatt added. "It's becoming just another cocktail party."
For years, startups like Viddy and news apps like The Washington Post Social Reader used automated messages or posts on its users' Facebook pages to lure other users to install its app. But that put them at the mercy of "EdgeRank," the opaque and closely guarded algorithm that Facebook constantly tweaks to control whether an app's posts are broadly exposed to users.
In financial disclosures, Facebook has warned investors that a fundamental challenge in its business model is finding the balance between the "frequency, prominence and size of ads and other commercial content we display" with its user experience. While Facebook is under intense pressure from Wall Street to turn its massive audience into growth in advertising revenue, a lot of the changes that rattle firms like Viddy seem to be more related to Facebook's attempts to retain users.
Viddy's implosion has been spectacular - it fell from 35 million monthly users at its peak last year to half a million recently, according to Appdata.com, a tracking service.
But the collapse is not unique. Branchout, a business networking service built on top of Facebook, raised $25 million last April from A-list backers including Accel Partners. But now it languishes with just 100,000 monthly users on Facebook, down from a high of 39 million, after Facebook limited the automatic notifications that Branchout used to attract users.
The poster child for fallen Facebook stars has been Zynga Inc, the game publisher that shot to popularity, and a lucrative IPO, with viral Facebook games like FarmVille that distributed a deluge of notifications about virtual farm animals before Facebook clamped down.
Zynga, whose shares are trading two-thirds below its IPO price, has since announced that it would loosen its ties with Facebook and develop its own network for gamers. Zynga declined to comment for this article.
PUSH-AND-PULL
The fate of Facebook apps have drawn attention to the perennial push-and-pull between large technology companies and smaller developers. Like tech industry heavyweights before it, Facebook recognizes it can expand its market power and offer new features by fostering a thriving ecosystem. But those relationships have historically been fraught.
In the 1990s, the Windows operating system rose to dominate personal computing, but its maker Microsoft Corp was accused of favoring its own browser and word processor over its competitors' offerings like Netscape and WordPerfect.
Similarly, Apple Inc's iPhone dominated smartphone sales 15 years later with the help of third-party apps - but it, too, has periodically attracted attention from the Federal Trade Commission over whom and what it lets into its App Store and iTunes platforms. Recently, Twitter has also clashed with some third-party developers.
Facebook first opened its programming interfaces to outside developers in 2007. The company later rolled out log-in credentials for third-party sites and then the powerful "Open Graph" protocol, which gives apps developers access to troves of data.
The company said it expects developers to contribute interesting content - rather than game the system for growth.
"Facebook is a story-telling device," said Purdy, the Facebook executive. "Driving millions and millions of installs is not why we built it."
"There are always going to be players who, for whatever reason, aren't seeing what they want or feel disenfranchised," he added. "But when we look at the totality of the ecosystem, it's never been stronger."
And current and former Facebook employees argue that the company has sought to communicate to its developers that they shouldn't be over-reliant on Facebook.
In Zynga's early years, for example, Facebook employees advised Zynga CEO Mark Pincus on renaming Zynga's highly successful "Texas Hold'em" poker game on Facebook to "Zynga Poker," in order to strengthen Zynga as an independent brand and differentiate it from competing gaming companies, people close to the situation said.
COMPETITIVE PRACTICES
But there are signs that Facebook may not be as collaborative as it once was.
In January, Tom Katis, the chief executive of Voxer, a voice-messaging app that has raised $30 million from Institutional Venture Partners and Intel Capital, received an email from Facebook representatives requesting a phone call. Facebook told Katis that it intended to cut off Voxer, which had used Facebook's log-in credentials for over a year, from accessing Facebook's friends data because it did not share its own data with Facebook - and because Voxer replicated communications features that Facebook wanted to build itself.
Katis has brushed off the incident, saying he is confident Voxer will continue to grow swiftly independent of Facebook.
"We were flattered that Facebook called us a competitor," Katis said. "It's their platform. They can do whatever they want. But it's just another cautionary tale."
Later that month, Facebook blocked Yandex, the Russian search engine, from crawling through its network. Facebook said that those companies took advantage of its network without sharing any information back.
Facebook's Purdy denied the company is being less collaborative, saying it is seeking to have "nuanced and mature" discussions with developers when conflicts arise.
Although there are no indications that the Federal Trade Commission, which has wrestled with Facebook over privacy issues, has looked into its competitive practices, experts broadly say that this is all but assured as Facebook continues to grow.
"One of the issues that Facebook faces that is also true for Google is that it supports so many developers," said David S. Evans, a professor at the University of Chicago Law School who has advised Google and Microsoft on antitrust matters. "Just by the law of large numbers, you're going to get complaints. That's a real vulnerability for the big Internet platforms."
For now, developers say they are frustrated mostly because they cannot anticipate the vagaries of Facebook's EdgeRank. Last week, Facebook took the rare step of publicly refuting comments by a New York Times writer who opined that the social network might be artificially suppressing user posts as a way to encourage people to pay to disseminate their posts.
"You have the combination of few tools available to build your business and no clear lines of communication," said the founder of a startup who spoke anonymously because his company still depends on Facebook for its traffic. "Is it worth it for founders today to quit your job, raise a bunch of money, hire a bunch of people, only to get to a point where it's really hard to get viral?"
REAL BUSINESS MODEL
But even if it left some companies in ruins, app makers who take the long view concede that Facebook's crackdown had an unintended benefit: It helped deflate a social media bubble propped up by unsustainable startups.
"You need a real business model now," said Aaron Ginn, an expert in Web traffic development who formerly worked for StumbleUpon, a website discovery app. "You can't rely on viral growth."
Branchout Chief Executive Rick Marini said his company was in the midst of improving its own offering.
"Facebook made several changes to the viral channels and app developers needed to react," Marini said. "For Branchout, the silver lining is that we're focusing more on our product development instead of viral user acquisition."
Meanwhile, a much leaner Viddy consolidated operations under co-founder J.J. Aguhob and released a new version of its iPhone app.
O'Malley, the Viddy investor, said in hindsight, the boom in traffic from Facebook - and the stratospheric investor expectations that followed - set the company on the wrong track.
"With the Facebook traffic and with the larger round, did we lose focus on what was important? Yes," O'Malley said. "If you can get traffic from Facebook, great. But don't bank on it."
<div class="nc_footer">
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</div>

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