Act as a seasoned business attorney with over 10 years of experience advising startups. Provide a comprehensive, step-by-step guide on the essential legal steps to take when launching a [TYPE OF BUSINESS] in [COUNTRY/STATE]. Include details on business registration, choosing the right legal structure (e.g., LLC, corporation, sole proprietorship), obtaining necessary licenses and permits, drafting key contracts (e.g., founder agreements, NDAs), and protecting intellectual property (e.g., trademarks, patents). Also, highlight common pitfalls to avoid, such as [COMMON MISTAKE] or [OVERLOOKED REQUIREMENT], and recommend cost-effective strategies for small businesses with a budget of [BUDGET RANGE]. Tailor your advice to [TARGET AUDIENCE], such as first-time entrepreneurs or tech startups.