Tuesday, July 16, 2024

Interview with William Scott Goldman, Senior IP Counsel and Founder of Goldman Law Group, PLLC: Top 5 Mistakes to Avoid When Starting a New Business

Leaders Perception Magazine is currently running an interview series called – What Are The Top 5 Mistakes People Make When Starting A New Business?

Today, we had the opportunity to interview WILLIAM SCOTT GOLDMAN who is a MANAGING ATTORNEY at GOLDMAN LAW GROUP, PLLC.



WILLIAM SCOTT GOLDMAN’s favourite quote: As the famous business consultant, author, and educator, Peter Drucker, once opined: “[The] business enterprise has two – and only two – basic functions: marketing and innovation.” So one must first identify a need and then it’s a matter of delivering on that promise while generating sufficient awareness.

Starting a new business can be an exciting and rewarding endeavor, but it’s also fraught with potential pitfalls. From legal issues to branding challenges, entrepreneurs must navigate a complex landscape to ensure their new venture is successful. That’s where William Scott Goldman comes in. As a Senior IP Counsel and founder of Goldman Law Group, PLLC, he has helped countless startups overcome obstacles and achieve their goals. In this interview, he shares his insights on the top five mistakes to avoid when starting a new business, along with practical advice on how to avoid them. Whether you’re a seasoned entrepreneur or just starting out, this interview is a must-read for anyone looking to launch a successful business.

The Interview

Thank you so much for joining us today! Tell us a little bit about yourself. What is your backstory?

WILLIAM SCOTT GOLDMAN : Senior IP counsel, offering practical experience in the entertainment industry, marketing and branding as founder of several successful start-ups. Prolific trademark filer, currently ranked #5 in the world with over 18,000 USPTO filings, representing creative business clients in all fifty states and internationally. Thought leader, pioneering the field of Branding Law and authoring the only casebook of its kind.

In your opinion, what makes your company stand out? Any examples?

WILLIAM SCOTT GOLDMAN : Representing Innovation is both the mantra and mission statement of Goldman Law Group, succinctly signifying the firm’s disruptive approach toward providing cutting-edge legal solutions for creative business clients in all fifty states and worldwide. Recognizing the need for a new type of law firm for startup clients, we set out to create a brand new business model, bridging the gap between the non-lawyer legal service provider companies and the more traditional law firm structure. Eschewing hourly billing in favor of predictable, flat-fee payment is appreciated by bootstrapping founders and entrepreneurs. Limiting the firm’s practice areas to those legal fields most relevant to emerging companies helps keep overhead costs down, while providing the ability to scale their business. And offering attorney access twenty-four hours a day, seven days a week is virtually unheard of in the industry, enabling Goldman Law Group to better serve early-stage business clients everywhere.

What are the TOP 5 mistakes people make when starting a new business? Please share advice/examples for all of them.

WILLIAM SCOTT GOLDMAN : 1. Using a brand name with the mistaken belief that filing as a corp. or LLC with the Secretary of State confers trademark protection. 2. Applying for a trademark and/or using a brand name without properly clearing it first with a thorough database search, including all possible variations, checking for similarities in sound, appearance and meaning. 3. Choosing a trademark that’s generic or descriptive rather than coined, arbitrary or even suggestive as generic marks are unregistrable and descriptive marks are considered ‘weak’ and difficult to enforce. 4. Mistakenly believing that hiring an independent contractor confers copyright ownership as a work made for hire. Instead, the contractor automatically owns copyright unless otherwise assigned by written agreement. 5. Failing to file a copyright application and assignment recordation.

Leaders Perception magaizne would like to thank WILLIAM SCOTT GOLDMAN for the time dedicated to completing this interview and sharing their valuable insights with our readers!

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