Entrepreneurs: Don’t Make this Expensive Mistake!
Written on April 16, 2014
There’s a great article in April’s Entrepreneur Magazine entitled “That’s Gotta Hurt”. The author, Lorie Parch, details the top 6 most expensive mistakes made by successful entrepreneurs when starting out:
#5 Most Expensive Mistake : Skimping on Attorneys
Tobin Booth, CEO of Blue Oak Energy – “If I could do some of the early stuff over, it would have been to pay a few thousand dollars to have an attorney write up a proper contract. I didn’t have the right attorney who really understood my business.” Booth ran into problems as some early customers refused to pay and he later discovered that he failed to include the proper language to recover attorney’s fees.
Sarah Shaw, CEO of Entreprenette, a Consulting Firm in Durango, Colorado – She unknowingly signed a contract that gave her handbag company the trademark rights to her personal name. Shaw says “ I can’t use my own name in business again. I wish I would have had hired an attorney to look out for me”
Remember, It is a lot easier to do it right the first time – Lawyers can’t always put the milk back in the bottle.
If money is the issue, contact my office regarding our flexible monthly programs for small business.
I strongly endorse Andrew Mongelluzzi. He is a very skilled and able business attorney focused on customer service and results. On the front end, Andrew deftly advises new businesses on organizing properly, acquiring necessary licenses, contracting with vendors & customers, and dealing with various compliance issues that may arise. On the back end when things go south, Andrew counsels and navigates businesses through complex commercial disputes and aggressively represents them in negotiations, mediation, arbitration, and in litigation so that businesses can legally move on and get back to business. Andrew’s ability to identify legal issues and approaches to resolve business-related issues is a strength that I have learned from and professionally relied upon in approaching the business matters and cases that I handle. I regularly refer business to Andrew knowing that he will diligently represent his business clients and their best interests.
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