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Description
Mind Map by claudia erika zarate martinez, updated more than 1 year ago
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Created by claudia erika zarate martinez
over 6 years ago
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10 Common Mistakes When
Launching a New Business
- 7. Failure To Sign Agreements With Co-Founders A startup may take
on a co-founder as a way to get free services and not spend money
at the outset. In the end, they may find that their
partner/co-founder does little to contribute to the business which
ends up becoming more expensive in the end.
- 8. Use Of Generic Non-Disclosure Agreement And Templates A
business may fail to customize an NDA by using templates they
obtained from others or on the internet.
- 10. (Unknowingly) Violating Securities Laws Founders need to be
aware that by pitching, sharing a business plan or asking for
money could put them offside securities laws.
- 10. (Unknowingly) Violating Securities Laws Founders need to be
aware that by pitching, sharing a business plan or asking for
money could put them offside securities laws.
- 8. Use Of Generic Non-Disclosure Agreement And Templates A
business may fail to customize an NDA by using templates they
obtained from others or on the internet.
- 6. Disclosing An Invention Outside Of The Time Limitation To File A Patent A patent gives the owner
of the patent exclusivity over the right to that invention for a certain period of time in a particular
jurisdiction.
- 9. Failing To Put Together A Proper Pitch Deck Or
Business Plan It is important for a business to have a
good business plan which can even be a one page
business plan.
- Name: Claudia Erika Zarate . Grupo:
212032_31
- Name: Claudia Erika Zarate . Grupo:
212032_31
- 9. Failing To Put Together A Proper Pitch Deck Or
Business Plan It is important for a business to have a
good business plan which can even be a one page
business plan.
- 1. Choosing A Business Name Without Rights To An Online Presence It is important to choose a
business name that a business can use online with a website and social media presence.a
- 2. The Business Name Does Not Comply With Applicable Legislation The Trade-marks Act, the Canada
Business Corporation Act, and Canada Corporation Act have certain requirements when choosing a
business name.
- 3. Failing To Trademark A Business Name A business must obtain the necessary federal,
provincial/territorial and municipal permits and licences, Business Number, registered business name,
GST/HST number, corporation income tax, payroll and import/exports accounts.
- 4. Failing To Obtain International Trademark Protection If a business conducts its operations in the US
or Europe, then it is advisable to also obtain copyright, trademark and patent protection in those other
countries at the outset and not just in Canada.
- 5. Failing To Properly Secure The Intellectual Property Rights From Co-Founders, Employees, Licensees Etc. A
startup may fail to spend money to obtain the intellectual property rights (patent, trademarks, copyright,
including moral rights) from independent contractors such as website developers, software engineers,
programmers, graphic designers and their own employees working on and developing ideas and improvements to
existing intellectual property rights.
- 5. Failing To Properly Secure The Intellectual Property Rights From Co-Founders, Employees, Licensees Etc. A
startup may fail to spend money to obtain the intellectual property rights (patent, trademarks, copyright,
including moral rights) from independent contractors such as website developers, software engineers,
programmers, graphic designers and their own employees working on and developing ideas and improvements to
existing intellectual property rights.
- 4. Failing To Obtain International Trademark Protection If a business conducts its operations in the US
or Europe, then it is advisable to also obtain copyright, trademark and patent protection in those other
countries at the outset and not just in Canada.
- 3. Failing To Trademark A Business Name A business must obtain the necessary federal,
provincial/territorial and municipal permits and licences, Business Number, registered business name,
GST/HST number, corporation income tax, payroll and import/exports accounts.
- 2. The Business Name Does Not Comply With Applicable Legislation The Trade-marks Act, the Canada
Business Corporation Act, and Canada Corporation Act have certain requirements when choosing a
business name.
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