BUSINESS LAW AND CONTRACT SYSTEM

LEGAL PERMISSION

“VEESIT”

Arranged by:

Dian Oktariani 19217003

Krisanti Debora A. 19217027
Lia Mayasari 19217028
Dicky Anggiat F.N. 19217039

Bachelor of Entrepreneurship
School of Business and Management
Institut Teknologi Bandung
2019
Table of Content
Company Profile 1

Preferred Business Entity 2

Intellectual Property Rights Process for our Business 3

Other Legal Permission Issue 4

Documentation 4

1. Company Profile

Veesit technology is a B2B business (business to business) that provides products

and services for non-star hotels. With a digitizing check-in process, we believe that non-

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 star hotels will be able to compete with additional costs, increase occupancy at the same
time, and participate in saving the environment at the same time. Formed since the
beginning of 2019, the Veesit Team consisting of 7 (seven) people has validated the
problem and the market uses integration. If requested by the system, do it yourself, where
guests who have booked the hotel online or offline will check in independently without the
need for assistance from the hotel maid. Guests can use the check-in service at Veesit on
the OTA (Online Travel Agent) application such as RedDoorz, OYO, or Traveloka and or
on the Veesit application itself. They will also get a QR code key that can be used directly
at the destination hotel after making payment and verification.

On the other hand, non-star hotels that have Veesit services can receive guest
analysis data. Hotels can save up to Rp. 300,000,000 annually for reception fees and losses
due to poor hotel management. In addition, the sophistication of Veesit technology can
increase efficiency by up to 60% and increase customer satisfaction by 50% with a unique
provider user experience.

In order to generate profit, we use two types of business models : we take 2%

transaction fee per OTAs (Online Travel Agencies) who use our Core API and Hotelier
Software monthly or annually subscription. As an initial action, we are going to propose
RedDoorz, OYO, and Airy as our business partner. They will use Veesit API, so they can
give additional value for their customers. Based on Statista data, we found that average
transaction value of OTA in 2018 is US$1.986.000.000 or IDR28,797,000,000,000. If we
take 2% of the transaction fee as the price of our API, we will get around IDR288,000,000
per year from API system. And we will get IDR747.480.000.000 from Hoteliers Software
subscription fee, with assumption of 24.916 non-star hotels use Veesit and monthly
subscription value of IDR2,500,000.

2. Preferred Business Entity

Our business will operate as a PT (Perseroan Terbuka / Limited Liability

Company). Because this helps us avoid double taxation and can still support multiple
classes of stock if needed. Besides, this also allows us to grow by seeking funding from
new investors or working with other third parties. Also, this can be especially useful since
we are using a startup accelerator. We can always convert the LLC to a corporation through
a fairly simple process later on. We create the LLC structure to protect our personal assets
against lawsuits directed at the company.
General requirements for the establishment of a limited liability company (PT) are:

● Photocopy of KTP, NPWP & KK of the shareholders and management, at least 2

people
● Director photo size 3x4 red background

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 ● A copy of the United Nations last year according to the company's domicile
● Copy of Office Contract / Lease or proof of ownership of the place of business
● Domicile Certificate from the building manager if you are domiciled in the Office
Building
● RT / RW Certificate (if needed, for companies domiciled in a residential area)
specifically outside Jakarta
● Offices are located in the Office / Plaza Area, or Ruko, or not in residential areas
● Zoning Certificate from the Village
● Company stamp
Requirements for the establishment of PT formally based on Law no. 40/2007 is as follows:

● Founders (Directors and Commissioners) consist of at least 2 or more people

● Company name
● The composition of shareholders (the founder must take part in the shares)
● The deed of establishment must be approved by the Ministry of Law and Human Rights
● Determine the value of authorized capital and paid up capital (minimum paid up capital
value of 25% of authorized capital)
● Company Classification:
Small LLC
Paid up capital of more than: IDR 50,000,000
● The management consists of at least 1 Director and 1 Commissioner
● Shareholders must be Indonesian Citizens or Legal Entities established according to
Indonesian law
● Notary Deed in Indonesian
Stages of Establishment of a Limited Liability Company

● Name Check
● Making Draft Deed
● Signature of Deed
● Ratification at the Ministry of Law and Human Rights
● Submission of Temporary SKDP
● Filing of Company NPWP
● Submission of SKDP Extension
● Submission of SIUP
● Submission of TDP

3. Intellectual Property Rights Process for our Business

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4. Other Legal Permission Issue

5. Documentation