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DARILYN AQUINO
My mission is to help you reach the next level with your life and business.
What You Need To Know In
Order To Have A Profitable
Business
July 4, 2017
Survival Kit for Entrepreneurs
November 5, 2016
Does My Company Have What
It Needs to Be Expanded
Internationally?
March 14, 2015
Top 3 Mistakes Newbie
Entrepreneurs Make and Their
Solutions
October 28, 2014
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Joint Venture: Business
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September 28, 2014
Key Steps to Not Fail in the
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September 1, 2014
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Mother, blogger, Entrepreneur, Author, Juris Doctor Degree in Law, Master´s Degree in International Law
Business and motivational advisor. Speaks 4 languages and contributes with worldwide publications and
prestigious blogs related to entrepreneurship, woman in business, international law and motivation. Her
mission statement is to help you reach the next level with your life and business. If you want to know more
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THE BLOG BUSINESS DUE DILIGENCE MISTAKES
Top 3 Mistakes Newbie Entrepreneurs Make
and Their Solutions
In the current entrepreneurship boom we are experiencing nowadays, it is quite
common that novice business owners -- as well as those with more experience --
make very frequent mistakes due to a lack of legal counseling and experience.
By DARILYN AQUINO, Contributor
My mission is to help you reach the next level with your life and business.
Aug 28, 2014, 03:43 PM EDT | Updated Oct 28, 2014
This post was published on the now-closed HuffPost Contributor platform. Contributors control their own work and posted
freely to our site. If you need to flag this entry as abusive, send us an email.
RELATED
BUSINESS DUE DILIGENCE MISTAKES SMALL BUSINESS TOOLKIT PATENTS
GO TO HOMEPAGE
In the current entrepreneurship boom we are experiencing nowadays, it is quite common
that novice business owners -- as well as those with more experience -- make very frequent
mistakes due to a lack of legal counseling and experience.
The top three legal mistakes entrepreneurs usually make are:
1. Not registering the company from the beginning: Lots of entrepreneurs decide to break
into business individually, on his or her own, either to sound the market out or to see the
outcome, or to save money from business incorporation processes.
This is a huge risk they take since they jeopardize their personal patrimony in case of legal
liability.
Solution No. 1: Juridical personalities exist in all legal frameworks. Choosing the right form
depends on certain factors: liability scope, available capital, tax treatment, etc.
The solution lies in getting the right advice from an expert in order to be guided to choose
the adequate legal form for your situation and to eliminate or minimize the risks and
drawbacks that may hinder in the future.
2. Working without contracts: Lots of entrepreneurs used to be reckless and they start
working with suppliers or freelancers without contracts.
Solution No. 2: We strongly encourage to agree in writing, avoiding confusion and
delimiting all duties, rights and compensations in a clear way. Drafting contract should be
performed by a contract expert in order to protect your interests.
3. Not protecting your intellectual property from the beginning: This is a rather common
mistake presently since lots entrepreneurs make their names known without being aware
whether their name is an existing trademark, or if it is otherwise available for use.
Entrepreneurs are subject to be sued in case of registered trademarks, brand names or
patents.
Solution No. 3: It is recommendable to conduct due diligence in order to determine
potential conflicts regarding trademarks, brand names or patents already registered. Before
promoting a trademark, brand name or patent you should appropriately register it either
locally or internationally depending on the market coverage or expansion.
DARILYN AQUINO, Contributor
My mission is to help you reach the next level with your life and business.
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