18 Common Legal Mistakes Small Business Owners Make

18 Common Common Legal Mistakes Small Business Owners Make. Startups often neglect the protection of intellectual property (IP) Patents, copents and copents are the most valuable asset of startup, Patents and trademarks are the three essential components of the intellectual property. Startup failure rate at 4 years is about 44%, according to smallbiztrends.com.org.uk.com. The startup failure rate is 44% and startups often fail to live up to their 4th year.