Category: Legal

Avoid These Pitfalls If You Are A Small Business Owner

This post from LegalZoom which was recently updated in September 2023 highlights the top ten mistakes made by new business owners. The list includes:

  1. Not having a business plan
  2. Not having a marketing plan
  3. Impatience
  4. Overspending
  5. Underpricing
  6. Not forming the right business entity
  7. Thinking you don’t need insurance
  8. Not having a written agreement with your business partners
  9. Failing to protect intellectual property
  10. Thinking you can do it all yourself

Check out the link to read more detail about what to do if you think you are falling short in that area as the post goes into depth on each item in the list.

Extra Education Supports Becoming An Entrepreneur

According to this piece in Fast Company, during 2021 alone, over 5 million new companies were registered in the US alone which is an increase of 23% over the previous year. While some of this increase can be attributed to the impact of the global pandemic, research is suggesting that education is playing a role as well.

While some experts have felt that continuing education is more about “signaling rather than skill development”, this new research is providing evidence that additional years of post-high school education can boost self-employment in high-growth industries. Research goes on to point out that, “for women, education may have an even greater impact on encouraging them to jump into entrepreneurship by increasing their confidence in addition to their skills.”

Education is certainly something we believe in at the Institute! If you (or someone you know) would benefit from our free 12-week entrepreneurship certificate program,  go to this page and click the “Join the Waitlist” button. We enroll on a quarterly basis and reach out to those on the notification list in the order that they are there. 

LOULOU LOLLIPOP Evolves from Side Hustle to International Brand

When co-founders of LOULOU LOLLIPOP, an eco-friendly baby product company, looked to expand their company globally, they realized they didn’t have the right to use their name in Europe and China. It was a three-year legal battle with a hefty price tag to nail down the trademark issues. Co-founder Eleanor Lee shared, “There will be challenges and mistakes along the road, there were for us. They’re stepping-stones. Don’t dwell on them.” To read more about their adventure in launching a global brand, read this piece in Women of Influence.

Legal Resources – for Free

The Legal module in the Women’s Entrepreneurship Certificate program provides a host of downloadable resources and tools for entrepreneurs but in that limited two-week course, there are many more nuanced legal items that couldn’t be covered. This list of free resources – offered through the small, woman-owned legal firm of Trellis Legal provides a fabulous assortment of tools at no cost.