Abstract
OPC ‘the concept of one Person Company’ was introduced in the Companies Act 2013. This concept was recommended first by the expert committee of Dr JJ Irani in 2005. OPC is a hybrid of sole proprietor and company forms of business: and limited liability being the precious legal invention in legal history. The introduction of OPC in the Indian legal system is considered as the appropriate legislation to unleash the entrepreneurial talent of emerging Indian businessmen, especially to start-up ventures. Here we try to dig into the emergence and development of OPC the world over as well as in India, examines the concept of OPC which is set to organize the unorganized sector of proprietorship firms and other entities that will be convenient to regulate and manage with the emerging concept of OPC. We further get to explore what is OPC, the salient features of OPC, the privileges of OPC, and how can OPC get incorporated in India. The pros and cons of OPC and its impacts will be discussed and its impact in Indian entrepreneurship along with a comparative analysis with sole proprietorship and private companies will be analyzed.
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