The 6 most common mistakes made by entrepreneurs

Most of the guides on how to open a company recommended to draw up a business plan, create a campaign, design a website, etc. . However, when these guides refer to the legal requirements, they merely advise on the choice of the various corporate case and the need to record the name of the company. Although these are two very important steps, they are not the only legal provisions that …

Do not revise their contract of employment. It often happens that a prospective entrepreneur wants to start a business or idealize the concept of the same when he was still under the dependencies of an employer. This situation can cause problems if the future employer has an employment contract that prohibits compete with your employer or if such contract provides that ideas, products, designs, etc. . entrepreneur of the future belong to the current employer. Although the majority of employees in the United States are employed under a contract of recedibilitá free (in the sense that the employer can dismiss the employee at any time and for any reason) it is common that the parties sign an agreement not to compete or the sale of intellectual property. Think of the documentation that you signed on the first day of work.

Choose the most suitable for the business case. Although many guides contain this phrase, few take the time to explain the concept in detail. Choose the most suitable case is not just about knowing the difference between a “sole proprietorship ” and a “limited partnership”, but also to understand what your needs and the needs of your business. This involves having the knowledge of what you expect from your business to the time it is established throughout its growth.

Do not put your agreement in writing. At the start of a business, all of them are full of ideas and hopes. Everyone is happy and promises made by the shareholders are being wasted . Then, something happens (and trust me, it’s always so) and created the first disagreement. In most cases, the discrepancies are resolved amicably and the business continues its course without problems. However, in some cases, such disagreement can lead to the end of the company. The more members can not work together. No one remembers the promises made in the beginning or how the business would have been due to be managed, or if such promises are remembered, each of the members has their own version. Do not rely on oral agreements or shaking hands. Protect your investment and treat it with respect. The same time spent to choose the letterhead, the logo and design of the website should be spent on drawing up the rules by which their members will direct the business.
I do not respect your agreements or statute. This is important. If you agreed in writing to have to follow certain rules (how to conduct an annual meeting on the first day of the year), then you have to follow them. There is no easier way to get a problem that does not follow these rules. In the case of a judicial dispute, how do you think the judge will adhere to these rules, if you yourself have not done? So : you review the regulations and agreements in your company and make sure to follow the rules they dictated. If you can not, change them .
Do not keep company documents updated. Most business owners know where the book is kept of the documents of the company, but they have never opened. The truth is that most of the entrepreneurs do not even revise corporate documents if not the first day when received. It ‘s very important to keep the company documents. These should reflect the history of the activity; for example, the share certificates must be issued and should be included in the minutes of the company. In this way, not only will you be in compliance with most of the statutory rules, but will secure that the corporate structure is observed in case of litigation proceedings.

Protect your intellectual property. It’s important that your brand makes use of the protection provided by the laws on trademark, copyright and patent. The appearance of your business is unique. You’ve spent a considerable amount of time and money to advertise your business and its reputation . You must make sure that no one tries to take advantage of your success and use your ideas without your permission. For those who have an American subsidiary of an Italian society, the fact that your brand is registered with the Patent and Trademark implies, however, that the mark should be registered also at US Patent & Trademark Office.


This document was prepared in 2011 by the lawyer. Claudia Moncarz, Partner of the Law Firm Tosolini, Lamura, Rasile & Toniutti LLP, based in New York, Miami and Rome and a subsidiary office in Milan. This document and its contents are the exclusive property of Tosolini, Lamura, Rasile & Toniutti LLP and may not be reproduced or copied in any form or manner.

This document does not constitute legal advice. The information contained herein may be incomplete and/or inaccurate. This document is purely informative nature and is subject to the laws of the State of New York. If, in the course of this document, there are indications regarding the results obtained with other customers, these results depend on the circumstances of each customer, therefore, results previously obtained can not be guaranteed. This document is representable as advertising for lawyers (attorney advertising).

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