1.) accepting angle funds for too much equity (45%) and not "quitting my day job" to focus full time on my venture.
2.) Paying (a lot, $35K) a high end IP law firm to "finish" two patents I'd drafted an file them. I now write and file my own patents for next to nothing; it just takes time.
3.) Letting a law firm convince me to pay even more ($40K) for foreign patents, which are pretty much worthless unless you're an Apple or Samsung.
4.) Not getting an up front firm quote for legal work (said firm tried to collect an additional $90K, which of course we did not pay).
5.) Not watching the company bank account like a hawk to make sure my partners weren't wasting precious raised capital on worthless overhead expenses (e.g. empty offices... and they were).
What percentage are 'wrong'? How do you find the right ones? Ask around? What if you don't know people to ask..
Hmm that would be a great website - for anywhere, it tells you who the right law firms are for what, with user stories, ratings, etc. And links to orgs who give good advice about those things etc.
2.) Paying (a lot, $35K) a high end IP law firm to "finish" two patents I'd drafted an file them. I now write and file my own patents for next to nothing; it just takes time.
3.) Letting a law firm convince me to pay even more ($40K) for foreign patents, which are pretty much worthless unless you're an Apple or Samsung.
4.) Not getting an up front firm quote for legal work (said firm tried to collect an additional $90K, which of course we did not pay).
5.) Not watching the company bank account like a hawk to make sure my partners weren't wasting precious raised capital on worthless overhead expenses (e.g. empty offices... and they were).
Oh, the list goes on...