As biotechs navigate the always-tricky drug development and approval world, mistakes are inevitable. At the very least, these errors cost time and money; at worst, they can lead to the demise of a promising drug or even an entire company. In his 18 years as an attorney, Stephen Ferruolo (photo) has seen plenty of mistakes. He's a partner in the Business Law Department at Goodwin Procter, an 850-person firm that has helped large and small companies alike negotiate the development process. Ferruolo's experience has given him him insight into the best ways for companies to minimize risk, as well as save time and money. From the mismanagement of IP to not knowing when to partner, Ferruolo discusses the blunders he regularly sees small drug development companies make--and what you can do to avoid them. Article