16793005
Description
Mind Map by Esperanza Espitia, updated more than 1 year ago
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Created by Esperanza Espitia
almost 6 years ago
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10 Common Mistakes
When Launching a
New Business
- 1. Choosing A Business Name
Without Rights To An Online
Presence
- Choose a business name that a company
can use online with a website and
presence in social networks, verify the
potential trademark and the status of
social networks of a business name before
proceeding to register, incorporate or try
to register a company.
- Choose a business name that a company
can use online with a website and
presence in social networks, verify the
potential trademark and the status of
social networks of a business name before
proceeding to register, incorporate or try
to register a company.
- 2. The Business Name Does Not
Comply With Applicable Legislation
- The business name should be unique and
not confuse a consumer with the goods,
services, or trademarks of another
business. The name should also not falsely
describe the business.
- The business name should be unique and
not confuse a consumer with the goods,
services, or trademarks of another
business. The name should also not falsely
describe the business.
- 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.
A business must register their brand.
- 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.
A business must register their brand.
- 4. Failing To Obtain
International Trademark
Protection
- Obtain author's rights, trademarks and
patent protection in the countries where
they carry out their operations, so as not
to endanger the company's trademark
- Obtain author's rights, trademarks and
patent protection in the countries where
they carry out their operations, so as not
to endanger the company's trademark
- 5. Failing To Properly Secure The
Intellectual Property Rights From
Co-Founders, Employees, Licensees Etc.
- A company must obtain intellectual property
rights (patents, trademarks, copyrights,
including moral rights) from independent
contractors such as website developers,
software engineers, programmers, graphic
designers and their own employees who
work and develop ideas and improvements
- A company must obtain intellectual property
rights (patents, trademarks, copyrights,
including moral rights) from independent
contractors such as website developers,
software engineers, programmers, graphic
designers and their own employees who
work and develop ideas and improvements
- 6. Disclosing An Invention
Outside Of The Time
Limitation To File A Patent
- Not disclose the invention without
the necessary protections
- Not disclose the invention without
the necessary protections
- 7. Failure To Sign Agreements
With Co-Founders
- A company can ensure that the founders are
issued shares “subject to vesting. All founders
should assign all inventions, ideas, and
anything they worked on or contributed to the
company’s proposed business.
- A company can ensure that the founders are
issued shares “subject to vesting. All founders
should assign all inventions, ideas, and
anything they worked on or contributed to the
company’s proposed business.
- 8. Use Of Generic Non-Disclosure
Agreement And Templates
- The company must customize an NDA,
with the purpose of protecting ideas and
guaranteeing legal concepts.
- The company must customize an NDA,
with the purpose of protecting ideas and
guaranteeing legal concepts.
- 9. Failing To Put Together A
Proper Pitch Deck Or Business
Plan
- It is important for a business to
have a good business plan
- It is important for a business to
have a good business plan
- 10. (Unknowingly)
Violating Securities Laws
- It’s important to not add any slides or
information regarding fundraising or
financing to potential investors such as
investment opportunity slides, “ask slides”
etc. not permitted under securities
legislation. Similarly, it’s important to add a
disclaimer on any opening slide
presentations to make it clear that the
business is not soliciting investment from
the attendees or potential investors.
- It’s important to not add any slides or
information regarding fundraising or
financing to potential investors such as
investment opportunity slides, “ask slides”
etc. not permitted under securities
legislation. Similarly, it’s important to add a
disclaimer on any opening slide
presentations to make it clear that the
business is not soliciting investment from
the attendees or potential investors.
- Name: Esperanza Espitia Vega
Group: 212032_16
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