Not too long ago a few attorneys and I got together and created the following list of mistakes Do It Yourselfers make.

*Incorporation/LLC*

1.       Not doing a name check or reservation (website is not real time)

2.       No organizational meeting & minutes

3.       Not keeping up with annual meeting minutes and resolutions

4.       Not filing 25102(f) securities exemption (when necessary)

5.       Not filing Statement of Information on a timely basis (very minor filing, very major consequences)

6.       Not maintaining active corporate statute

7.       No treating the Company as a separate entity (commingling funds, etc.)

8.       Never issuing stock certificates (much less making the appropriate filings).

9.       Borrowing money from shareholders without issuing a promissory note or drafting appropriate corporate resolutions.

10.   Not assigning intangible assets to the entity.