# 9: Issuing founder shares without vesting.
#8: Hiring a lawyer not experienced in dealing with entrepreneurs and venture capitalists.
#7: Failing to make a timely Section 83 (b) election.
# 6: Negotiating venture capital financing based solely on the valuation.
#5: Waiting to consider international intellectual property protection.
#4: Disclosing inventions without a nondisclosure agreement, or before the patent application is filed.
#3: Starting a business while employed by a potential competitor, or hiring employees without first checking their agreements with the current employer and their knowledge of trade secrets.
#2: ...failing to comply with state and federal securities laws.
#1: Thinking any legal problems can be solved later.
Read more in this HBS Working Knowledge article