10 Legal Mistakes Every Startup Should Avoid Making

There are lots of business booby-traps that you need to avoid as a start up. Among the biggest are legal mistakes that can cost you a lot of money. Small Business Trends contacted Paul Kassabian, Legal Product Counsel at LegalZoom to get a list of 10 legal mistakes every startup should avoid making. “When forming a business, it’s easy to get caught up in the excitement of getting things up and running. However, failing to take the appropriate legal steps can set a company off on the wrong foot,” he wrote in an email. This is one of the most common blunders that costs. By forming a limited liability company (LLC), corporation (INC) or a sole proprietorship, small business owners keep their businesses in the right tax category.   This is a great way to protect your personal assets from any liabilities your business might suffer.  Further, separate bank accounts keep everything in separate financial lanes around tax time.