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Page 1Page 4Whats in a Name? Challenges and Pitfalls in Naming a New BusinessDeadline for Limited Liability Companies by Richard J. Keller and Christopher D. Stall Owners of Minnesota LCS formed under
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Challenges and pitfalls are potential risks, obstacles, or difficulties that may arise during a project, task, or process.
Individuals or organizations responsible for overseeing or implementing a project are required to file challenges and pitfalls.
Challenges and pitfalls can be filled out by identifying potential risks, providing solutions or mitigation strategies, and assigning responsibility for addressing them.
The purpose of challenges and pitfalls is to proactively identify and address potential risks in order to prevent obstacles or setbacks in a project or task.
Information such as the nature of the challenge, potential impact, proposed solutions, and responsible parties must be reported on challenges and pitfalls.
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