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Disclaimer: This presentation is intended to be general information. Nothing in the presentation constitutes legal advice. Please consult with an attorney before making any intellectual property protection decisions. Is Your Business at Risk? TEN TIPS TO MANAGE RISK AND MAXIMIZE VALUE

Traklight - EGFS Is your Business at Risk - 10 Tips to Reduce Risk & Maximize Value

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Page 1: Traklight - EGFS Is your Business at Risk - 10 Tips to Reduce Risk & Maximize Value

Disclaimer: This presentation is intended to be general information. Nothing in the presentation constitutes legal advice. Please consult with an attorney before making any intellectual property protection decisions.

Is Your Business at Risk?

TEN TIPSTO MANAGE RISK AND MAXIMIZE VALUE

Page 2: Traklight - EGFS Is your Business at Risk - 10 Tips to Reduce Risk & Maximize Value

Mary Juetten Founder & CEO Trak-light@traklight@[email protected]

• CEI Incubator Graduate• Forbes, ABA LegalTech Contrib-

utor• 30 years business experience• J.D., CPA, CA • MSNBC, AZ PBS, SXSW V2V, LAUNCH Speaker• SUCCESS Magazine Start Small, Win Big 2013 winner

Page 3: Traklight - EGFS Is your Business at Risk - 10 Tips to Reduce Risk & Maximize Value

Business World

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Competing Daily Tasks

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IS YOUR BIZ AT RISK?

1. Entity2. Co-Inventors3. Co-Founders4. Employee v. Con-tractor5. Disclosure

6. Fundraising7. Records8. IP Strategy9. Financial Projec-tions10. Pending Litigation

Page 6: Traklight - EGFS Is your Business at Risk - 10 Tips to Reduce Risk & Maximize Value

QUESTIONS WELCOME THROUGHOUT

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#1 - Don’t go it alone – get an

entity!

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• C Corp• S Corp• LLC

Limit personal liability

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Patents (Utility & Design)

#2 – Co-Inventors

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Copyright©

A patent is not:

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Trademark

A patent is not:

Image courtesy: Shelby Asistio

™ ℠ ®

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Who: IP Ownership Challenges

Multiple Inventors

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When: Key Dates to

Remember• Date of Idea/Inventions (First to Invent → First INVENTOR to file)

• Date of Use• Date of Filing• Date of Conversion• Renewals

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#3 - Co-Founder

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Handshakes = Headaches

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#4: Employee

v. Contractor

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Who: IP Ownership Challenges

• Who are you? Employee of another company

• Proper assignment of IP rights — personal vs company

• Assume that ownership extends outside the US

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Software Work for Hire

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Fines, Penalties (don’t forget interns)

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#5 - Disclosure

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Enabling Public Disclosure

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Homepage

INTERNET IS PUBLIC DISCLOSURE

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#6 - Fundraising Careful re new rules

Solicitation

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Start on the right Trak

Do NOT start with creating a campaign,

pitch, or business plan.

THIS APPLIES TO ALL FINANCING!

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80% of a business’ value is in their IP.

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Identify IPProtect IPPick a PlatformBuild Social CapitalCreate a Pitch

Practice Safe Crowfunding

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Fundraising options

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Crowdfunding

Federal Securities Equity is not yet legal

instead: states,- Reg A+ (June 2015)

S

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#7 - Records

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#7 - RecordsFiling for business is

imperative – investors, banks and

IRS (Don’t forget to keep

records too)!

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#8 - Got intellectual property? Why care…

100% of all companies have IP.

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Avoid IP loss, infringement,

or business failure.

When do you need an IP strategy?

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Exclude competition: Attract investment (including crowdfunding);

Leverage and license.

When do you need an IP strategy?

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IP theft costs US companies $300 billion annually

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Trade Secrets—unsung heroes

Not always patents:

Image courtesy: Beverley Goodwin

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Five IP Mis-steps

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IP is just for tech startups or tech companies, and

patents are the only IP for inventors.

IP Mis-steps

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You can copy anything without a copyright ©

IP Mis-steps

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Domain = TM

IP Mis-steps

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If I pay for it, I own it.

IP Mis-steps

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Patents mean right to make or sell.

IP Mis-steps

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Strategies to Protect IP

Secrets:- Notary- IP Vault- Copyright software

Hire a Professional:- Attorney, Consultant, - LegalZoom, Rocketlawyer

Do It Yourself:- USPTO.gov- copyright.gov

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#9 FINANCIALS

• Realistic• Detailed • Know your numbers

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#10 PENDING LITIGATION

Disclose it!

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Ignorance Is NOT A Defense

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Read, Read, Read

Read contracts, licenses, and permission to use

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Read, Read, Read

Check out CreativeCommons.org

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Traklight’s Software Platform

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Traklight’s Software Platform

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Questions?

www.traklight.com

Free Business Risk Assessment

Mary Juetten

[email protected]

@traklight

Slides available on slideshare.net/Traklight

@maryjuetten