The Traklight Blog

Explore the world of intangible assets and IP with guest blogs, business owner interviews, and more.

Legal Issues for the Startup

Many startup companies operate on a tight budget and try to cut costs where possible. Often that includes forgoing legal advice and trying the do-it-yourself method. But not seeking legal counsel for important early stage decisions can end up being costlier in the long run. Investing in professional advice can help you avoid a number of mistakes that could threaten your business’ viability.

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Sidestepping Common Startup Mistakes

This article originally featured on the GoDaddy blog

Starting a new business venture is exciting. Whether you’re joining the ranks of the startup CEO, creating new products and services, or becoming your own boss in a more traditional business, you’ll most likely feel a mixture of thrill and fear. Don’t get too overwhelmed, though, or you’ll skip over important steps in the first several months that are critical to ensuring the best foundation for your new business. Let’s first look at the top three startup mistakes early-stage companies make:

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Avoid Failure to Launch: Part VI

In Part VI, our final blog in the series based on attending David Durick of Paychex’s workshop at the Small Business Expo 2016, we analyze step nine and ten. The necessary contracts are identified with Traklight’s free Business Risk Assessment,  which you can access here. To identify, track, and protect valuable IP, you can upgrade to our Full ID your IP product for a special price of $99 with this code: BMBPC16.  The Risk Chart and IP Diagnostic link you to Paychex partners who can help both address your issues and protect your IP.

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Avoid Failure to Launch: Part V

The fifth part in our series  based on David Durick of Paychex’s workshop at the Small Business Expo 2016, examines step seven and eight of the ten critical steps to building and protecting your business. If you are not sure which administrative tasks apply to you, please join Traklight here and take the free Business Risk Assessment. The Risk Chart on your dashboard will help by linking to Paychex partners who can minimize your risks and increase your chances of successfully launching your business. You can save time and money on some of these tasks by downloading and reviewing your Strategy Report located on your dashboard as indicated below.

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Avoid Failure to Launch: Part III

The third in our series based on attending David Durick of Paychex’s workshop at the Small Business Expo 2016 examines the third and fourth of the ten critical steps to building and protecting your business. If you are not sure which steps apply to you, please join Traklight here and take the free Business Risk Assessment with our compliments.

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Avoid Failure to Launch: Part 1

I recently had the pleasure of attending David Durick of Paychex’s workshop at the Small Business Expo 2016 in San Diego. David, a 32-year business veteran, has worked mainly in business to business throughout his career but almost exclusively with small business, five to ten employees.  David spearheads BuildMyBiz.com for Paychex and presented 10 critical steps to building and protecting a business.

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What Issues Do Startups Face?

When you’re starting your business, it’s natural to want to focus on the things that you want to do and accomplish and put some of the more tedious chores to the back-burner. You are the innovator, the dreamer, and what creative wants to be bogged down with the nitty-gritty of paperwork and forms and contracts? But in ignoring these details at the outset of your business, you could be placing your company’s long term future in jeopardy. Frequently, it isn’t the obvious threat that seems to be staring us in the face that does a business in, but a seemingly inconsequential oversight that can spell doom for a company. Here are some areas to pay attention to early, before they grow into larger problems.

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FORBES Update - Failing Gracefully: The CaseRails Journey

A legal technology entrepreneur and friend of mine created automated intake forms for her practice. Her goal was to sell this technology to law firms and consumers. Unfortunately, though, consumers will not proactively complete the forms. She found out the hard way that she had created a product with no demand. Much has been written on how to succeed, including tips and tricks for all the challenges that small businesses face. You often read stories about rapid growth and startups killing it, but it’s not too often you hear about the unsuccessful journeys.

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FORBES Update: Build It and They May Not Come

In this installment of our lessons learned series (co-authored by me and Traklight’s Mike Willee), we move from funding challenges to getting your product or service to market. You start a business with the aim of creating a product or service to offer to consumers or businesses. You spend time and resources developing this product along with a website to showcase your creation. But when you unveil your new business for the world to see, you’re met with indifference.  While it’s probably unreasonable to expect that customers would be beating down your door from day one, you expected at least a few curious souls to check out what you have to offer. Such can be the frustration that comes when you neglect to build your brand before your launch.

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Co-founders Argue Over Acquisition Payout

taxi-cab-381233_1280.jpgAt Traklight, we often preach the importance of contracts and agreements. It's an admirable quality to have faith in others, and there are many times that faith is rewarded. But the fact remains that while it's nice to hope for the best, it's prudent to plan for the worst. That even applies when it comes to those whom you choose to cast your business lot in with: your co-founders. There are far too many cases of partnerships gone awry to think that your particular pairing will never run into problems. And money can only compound those issues, as evidenced in the case of Cruise Automation, a company that was recently acquired for a considerable sum by General Motors and subsequently saw  founding members fight over shares of that prize.

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Startup Intellectual Property Mistakes

For small businesses that are just getting started, intellectual property (IP) is their most valuable asset. If your company has created a unique product, technology, or service, protecting the intellectual property you have developed is key to your success. Both the company's founders and investors must ensure all IP is first identified and then protected through agreements and registration, while also avoiding infringing on the intellectual property of third parties.

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Intellectual Property Mistakes Startups Make

Intellectual property (IP) is a huge talking point among investors, lawyers, and startups, and for good reason, too. In today's market, a new business venture generally consists of the people starting it, their IP, and not much else. That's why it's so crucial to protect those assets and avoid these startup mistakes.

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Don't Get Overwhelmed By These Start-up IP Issues

Intellectual property is the most valuable asset for all businesses. But too many startups incorporate and hit the ground running without first identifying and taking proactive steps to identify or protect their IP. Without the right coverage, your brand, your name, your slogans and anything else you create is vulnerable to theft.

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