Creating a new corporation or LLC (Limited Liability Company) can be an exciting venture for entrepreneurs and business owners. However, it's crucial to follow the correct procedures and comply with legal requirements to avoid potential pitfalls. Here are some statistics and interesting data on common mistakes made by new corporations or LLCs when they do not seek legal counsel: Failure to File Properly: According to the U.S. Small Business Administration (SBA), improper filing is a common issue. Around 20% of small…

Business owners need to be extremely careful with their information and data for several critical reasons: Protecting Sensitive Information: Businesses often handle sensitive information, such as customer data, financial records, trade secrets, and proprietary processes. Failing to safeguard this information can lead to data breaches, which can be costly and damaging to the business's reputation. Legal Compliance: Many industries are subject to strict data protection and privacy regulations, such as the General Data Protection Regulation (GDPR) and the Health Insurance…