10 Big Legal Mistakes Made by Startups
As commercial litigation attorneys, we have seen plenty of legal mistakes made by entrepreneurs and start-up companies. The following are some of the more common and problematic legal mistakes we have seen.
- Not making the deal clear with co-founders.
- Not starting the business as a corporation or LLC.
- Not coming up with a great standard form contract in favor of your company.
- Not complying with securities laws when issuing stock to angel investors, family, or friends.
- Lack of employment documentation.
- Not carefully considering intellectual property protection.
- Not taking into account important tax issues.
- Coming up with a name for the company that has trademark issues, domain name problems, or other issues.
- Not having the right legal counsel.
April L. Watson practices primarily general litigation, including successions and trust litigation, state tax litigation, construction, and products liability. She represents clients in state and federal trial and appellate courts throughout Louisiana and in multi-district litigation. You can schedule a consultation with Ms. Watson to learn how to NOT make legal mistakes and prevent litigation for your company and family. Schedule a consultation on our website at www.NolaEstatePlan.com or contact us at 504-434-5345.