10 Common Mistakes When Launching aNew Business

Choosing A Business Name Without Rights To An Online Presence
1. Choosing a business name is very important so that a company can use it online with a website or in social networks, this guarantees that you can have exclusive right. It is advisable to verify the potential of the trademark and the status of the social networks of a business name before continuing with the registration, incorporation or attempted trademark trade. Once you have verified your online availability and the potential for trademark protection, a company should proceed to register it.
The Business Name Does Not Comply With Applicable Legislation
1. The name of the company must be unique and must not confuse a consumer with the products, services or trademarks of another company. The name must also not falsely describe the business.
Failing To Trademark A Business Name
1. A company must obtain the necessary federal, provincial / territorial and municipal permits and licenses, company number, registered trade name, GST / HST number, corporate income tax, payroll and import / export accounts.
  1. A company still has to request a registered trademark, it is recommended to do so after the recommended name and brand searches to ensure that they have all their rights protected.
Failing To Obtain International Trademark Protection
1. No proteger la marca a nivel internacional, pone en inminente peligro la marca comercial de la empresa que no esté protegida en jurisdicciones internacionales
Failing To Properly Secure The Intellectual Property Rights From Co-Founders, Employees, Licensees Etc.
1. A new company can stop spending money to obtain intellectual property rights, which develop ideas and improvements to existing intellectual property rights. For this, it is important to ensure that the founders or independent contractors are not employees of another competing company.
Disclosing An Invention Outside Of The Time Limitation To File A Patent
1. A patent gives the owner exclusivity over the right to that invention for a certain period of time in a particular jurisdiction, the inventors are advised not to disclose their invention before signing a non-disclosure agreement ("NDA") that has been examined by a lawyer.
Failure To Sign Agreements With Co-Founders
1. All the founders must assign all the inventions, ideas and everything that they have worked or contributed to the business proposed by the company. In this way, if a founder leaves, a company is not in danger of losing the intellectual property rights that accompany it.
Use Of Generic Non-Disclosure Agreement And Templates
1. If a company does not personalize an NDA using templates that they obtained from others or on the Internet, as a result, it is possible that certain proprietary formulas or business ideas have not been included in the NDA, so these ideas are not protected.
Failing To Put Together A Proper Pitch Deck Or Business Plan
1. The business plan is an important document because in it there is a process of investigative analysis of understanding and design of a business, allowing to know the risks and key aspects to be successful.
(Unknowingly) Violating Securities Laws
1. In the rush to launch a business, a new entrepreneur can overlook important details or be careless to protect their ideas or assets, which can be included in violation of laws, this would bring economic consequences to the owner of a business for wanting to save money and short-term time.

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10 Common Mistakes When Launching aNew Business

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