Protecting your business ideas Oct 10th Microsoft Scottsdale
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Protecting your business ideas Oct 10th Microsoft Scottsdale

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How to protect your ideas while crowdfunding or raising funds; for startups, inventors, entrepreneurs and companies.

How to protect your ideas while crowdfunding or raising funds; for startups, inventors, entrepreneurs and companies.

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  • 1. PROTECTING YOUR BUSINESS IDEAS Mary Juetten, Founder & CEO Jill HowardAllen, COO Microsoft: October 10, 2013 "TRAKLIGHT", "ID YOUR IP", "IP VAULT", and "IP CLOUD" are registered trademarks of The PIP Vault, LLC. © MMXIII The PIP Vault, LLC. All Rights Reserved.
  • 2. What is IP? • Patents (utility & design) • Copyright © • Trademark/Service mark TM SM ® • Trade secrets – unsung heroes NO legal advice provided!
  • 3. Got Intellectual Property? Why Care… • IP theft costs US companies $250 billion annually • 100% of all companies have IP • 700K new startups annually vs. 20% protected IP after 1st year • IP is most valuable asset and not on your Balance Sheet • Exclude competition; Attract investment (incl. crowdfunding); Leverage & license • Avoid IP loss, infringement, or business failure Disclaimer: This is intended to be general information. Nothing in this presentation constitutes legal advice. Please consult with an attorney before making any intellectual property protection decisions.
  • 4. IP Misconceptions • IP is just for Tech Startups or Tech companies & Patents are the only IP for inventors • Trade secrets are the easiest to protect because there is no registration. • You can copy anything without a copyright © • You can copyright an idea. • Domain = TM • If I pay for it, I own it. • Patents means right to make or sell
  • 5. Start on the Right Trak Do NOT start with creating a: Campaign Pitch or Business Plan THIS APPLIES TO ALL FINANCING! Disclaimer: This is intended to be general information. Nothing in this presentation constitutes legal advice. Please consult with an attorney before making any intellectual property protection decisions.
  • 7. Strategies: 1.ID IP 2.Protect IP WHY WHO WHAT WHEN WHERE ✔
  • 8. WHO: IP Ownership Challenges • Multiple Inventors • Who you are? Employee of another company • Proper Assignment of IP Rights – personal versus company • Assume that Ownership automatically extends outside the US
  • 9. • Date of Idea/Invention (First to Invent  First INVENTOR to file) • Date of Use • Date of Filing • Date of Conversion • Renewals WHEN: Key Dates to Remember
  • 10. • Idea • URL • Name • Know how • Employees • Contractors WHAT: Business Plan/Funding Presentation
  • 11. Strategies to Protect IP • Do it Yourself: – – • Hire a Professional: – Attorney, Consultant, Legal Zoom, Rocket Lawyer • Secrets: – Notary, IP Vault, Copyright software
  • 12. • Inventor • Website • Software • Restaurant • Traklight! ` Case Studies 2/ 26/ 13 11:42 AMIP Awareness Assessm ent Page 1 of 2http:/ / inventors/ assessment/ assessment.html Accessibility Privacy Policy Terms of Use Security Emergencies/Security Alerts Information Quality Guidelines Federal Activities Inventory Reform (FAIR) Act Notification and Federal Employee Antidiscrimination and Retaliation (NoFEAR) Act Budget & Performance Freedom of Information Act Department of Commerce NoFEAR Act Report STOP! Department of Commerce Strategy Targeting Organized Piracy (STOP!) Careers Site Index Contact Us USPTO Webmaster This page is owned by Inventor Resources. Trademarks Q5. Do you control and manage the proper use of your trademark by other users you have authorized? 1. Yes. 2. No. 3. Not sure. Next Before starting the assessment, please note: Save the link for this page as a favorite/bookmark on your browser. In the “Internet Options” of your browser, deselect/uncheck history on exit. This will allow you to return and resume your assessment session in case you cannot finish it in one sitting. This will also allow you to access your training materials and assessment results at your convenience. As you are answering the assessment questions, choose the answer that best applies to your business or circumstances as an independent invento r or individual. Where applicable, cho ose all the responses that apply to your situation. Responses or data collected in the assessment are not stored or used by the USPTO or NIST MEP. Important Notice Please note that any information provided here does not constitute legal advice, but is intended to increase your IP awareness. When filing an application for obtaining specific IP rights, it is recommended that you obtain professional legal assistance. The IP Awareness Assessment contains links to external websites. USPTO does not maintain those external sites and is not responsible for the material found therein. IP Strategies & Best Practices Trademarks Copyrights Design Patents Trade Secrets Utility Patents Using Technology of Others Licensing Technology to Others International IP Rights IP Asset Tracking IP category Last Modified: February 26, 2013
  • 13. 3: PICK A PLATFORM • REWARDS BASED: Kickstarter, Indiegogo, Rocket Hub  How it works online! • EQUITY BASED: Not yet legal  Online Business Planning Required • OTHER: Angel List, Lending Club, Georgia CF
  • 14. GET READY NOW Equity is not yet Legal Create a Pipeline Same steps as other Financing Sources
  • 15. EQUITY is not Easy Requirements include: Financial Statements Background Checks Valuation Business Plan
  • 17. STEP 4: RAISE SOCIAL CAPTIAL Success is directly related to Social Capital Social Capital is more than Social Media Quality not Quantity
  • 18. CONTENT IS KING Expert Blogs Speaking Social Media PR Start working on this before you launch your campaign.
  • 19. Case Study: Lessons Learned
  • 20. What they do. • Genetic Art – Ts – Portraits • Channels – Obsessed pet owner – Animal organizations
  • 21. Campaign attempt #1
  • 22. Seriously?... Try again? • Lessons learned • New plan of action • New cause • New business opportunity
  • 23. The new plan. • Pre-Selling • HEAVY PR – Social Presence – Local media • Partnering • Get it in writing • New rewards structure • SCHEDULE
  • 24. UPDATE
  • 25. ONLINE Campaign Business Plan Projections ` STEP 5: CREATE PITCH
  • 26. Ignorance is NOT a Defense Be Careful: Video Copy Business Plans
  • 27. READ READ READ Read License & Permission to Use Check out Creative Commons
  • 28. Questions? Mary Juetten @traklight IDENTIFY. PROTECT. SUCCEED. Jill HowardAllen @traklight