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New Opportunities & Standard Practices for UK Creative and Technology Companies Expanding into the United States
 

New Opportunities & Standard Practices for UK Creative and Technology Companies Expanding into the United States

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Webinar PDF handout of New Opportunities & Standard Practices for UK Creative and Technology Companies Expanding into the United States presented by UK Trade & Investment with moderator Carlo Cavagna, ...

Webinar PDF handout of New Opportunities & Standard Practices for UK Creative and Technology Companies Expanding into the United States presented by UK Trade & Investment with moderator Carlo Cavagna, Vice Consul (Creative & Media), UKTI - Los Angeles and presenters Philippa Burgess, Partner, Creative Convergence and Kristian Wiggert, Esq., Partner, Covington & Burling LLP.

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    New Opportunities & Standard Practices for UK Creative and Technology Companies Expanding into the United States New Opportunities & Standard Practices for UK Creative and Technology Companies Expanding into the United States Presentation Transcript

    • New Opportunities & StandardPractices for UK Creative andTechnology Companies ExpandingInto the United StatesTuesday, June 4, 20133:30 PM to 5:00 PM (BST)
    • Presented byLos Angeles | British Consulate-General2
    • Webinar ScheduleTuesday, June 4th, 3:30pm – 5:00pm (BST) – 90 Minutes3:30pm Welcome & General Instructions3:35pm Introduction by Carlo Cavagna3:40pm Presentation by Philippa Burgess& Kristian Wiggert, Esq.4:20pm Upcoming UKTI Activities4:25pm Q&A (use webinar chat function)5:00pm End3
    • PresentersPhilippa BurgessPartner & Co-FounderCreative Convergence Inc.www.creativecvg.comKristian Wiggert, Esq.PartnerCovington & Burling LLPwww.cov.comModerator:Carlo CavagnaVice Consul (Creative & Media)UK Trade & Investmenthttp://www.ukti.gov.uk/home.html4
    • Philippa BurgessA Los Angeles-based businessconsultant specializing in businessdevelopment, content monetization,and consumer engagement for technologystartups, advertising agencies, brands, andcontent owners.The company also has an office in Chicago wherethey are imbedded within Y&R Midwest, part ofY&R, a WPP company, as part of their Spark PlugInnovation Network.5
    • Kristian Wiggert, Esq.A U.S. lawyer based in Londonspecializing in complex cross-border transactions andinternational business, with particularexpertise in the media and technology and lifesciences sectors.Member of California and New York Bars.6
    • Presentation Overview• New opportunities for expanding your businesswithin the UK and beyond in 2013.• Steps for setting yourself up to do business in theUS market.• Common pitfalls you’ll encounter when doingbusiness in the US for the first time.7
    • Business Development: Phase 1British Culture• Attitudes & Work Styles• British Advantages• British ChallengesEntirely New Endeavor or USExpansion?• Tech Beta• Use Case (Case Study)• Marketing Materials• Company Story• Executive Story• Marketing BetaMilestones• What is Mission Critical?• What are Current Financial Resources?• What are Financial Revenue Goals?• What are Investment Needs?US Market Opportunities• Enhancing Marketing Efforts• Securing Introductions• Competitive Analysis• Sales Cycle• US Talent and/or Management• Relationships Management• Ongoing Visibility8
    • Business Development: Phase 2Willingness to Explore• Opportunities• Relationships• Team Building• Clients• CommunityUS Cultural Differences• Workplace Culture• Within Geographic RegionsUS Connections• Event Circuit• Relationship BuildingOpportunities• Media Coverage• Digital Media Presence• Consultants & AdvisorsUS Pitfalls• Startup Expense• Focus and attention onrelationships• Sensitivity to changingmandates, timing, process andexecutive fears.9
    • US Regions: Major Market AreasEast Coast• New York (Financial Industries, Media & Publishing, Tech Scene, Talent, Investment, Ad Agencies, Brands,Offices of Tech Giants, Offices of Film/Television Studios, Music Giants)Mid-West• Chicago (Ad Agencies, Brands, Tech Scene, Tech Talent, Investment)West Coast• San Francisco (Tech Scene, Tech Talent, Investment, Headquarters of Tech Giants)• Silicon Valley (Tech Scene, Tech Talent, Investment, Headquarters of Tech Giants)• Los Angeles (Creative Scene, Media, Creative Talent, Headquarters of Film/TV Studios, Offices of Tech Giants,Tech Scene, Investment, Ad Agencies, Brands, Music Giants)Northwest• Seattle (Tech Scene, Investment, Headquarters of Tech Giants)10
    • US Regions: Smaller Active MarketsEast Coast• Boston (University Scene, Tech Scene, Tech Talent, Investment, Ad Agencies)• Philadelphia (Tech Scene, Investment)• Washington, DC (Tech Scene, Factual TV cluster, Investment)South East• Atlanta (Tech Scene, Creative Talent)• Orlando, FL (Tech Scene)• Miami , FL (Gateway to Latin America)Mid-West• Kansas City, MO (Ad Agencies, Brands)• Columbus / Cleveland , OH (Ad Agencies, Brands)• Detroit, MI (Ad Agencies, Brands)• Milwaukee / Madison, WI (Ad Agencies, Brands)• Minneapolis/St. Paul, MN (Ad Agencies, Brands)Southwest / Mountain• Austin, TX (Tech Scene, Tech Talent, Creative Talent, Music, Investment, Headquarters of Tech Giants)• Dallas/Ft. Worth, TX (Investment)• Houston (Investment, Headquarters of Corporate Giants)• Denver / Boulder, CO (Tech Scene, Tech Talent, Investment)West Coast• Orange County (OC)/ San Diego (Tech Scene, Tech Talent, Ad Agencies, Investment)• Portland, OR (Tech Scene, Tech Talent, Ad Agencies, Music & Arts)11
    • Setting Up in the USDon’t forget there are 50 States• Federal system means both national and local rules• Rules can vary greatly among statesBranch or subsidiary?• Consider how much business you expect to do, and where• A branch can expose the whole “tree” to US rules, lawsuits and taxes• Corporations are easy to set up and not costly• Other forms (eg LLCs) probably too complex for start-upsWho will run the US business?• Key people should be prepared to spend a lot of time in the US• Get the right assistance on the ground, be careful about local control• Look into any immigration/visa needs early in the processFinancial—Banking Arrangements; Funding12
    • Managing the Legal Basics (1)Taxes• Levels—federal, state and local• Types—income, payroll (employer), sales– Income of operations will be liable to federal and state tax (setting up a corporation can make this easier to manage)– Payroll taxes are employer’s responsibility—failure to withhold can cause major problems with US tax authorities– Sales taxes—these are state and local; look at nexus to each state; new laws may mean more states can collect• Observe registration and filing requirementsEmployees• Agreements are generally “at will”, without extended notice periods• Anti-discrimination rules and state laws extensive• In many states non-competes unenforceable or limited• US-style invention assignment and confidentiality agreements essential• Be prepared to provide a standard set of benefits (in particular, healthinsurance)• Keep immigration rules in mind13
    • Managing Legal Basics (2)IP• Consider protection through patent, trademark, copyright• Use US-style license and rights contractsSales and Marketing• Each product type has its own regulatory regime• Different distribution methods also have their own regulations, withsometimes surprising applications (eg franchise rules)• Consider consequences of distributorship arrangements—length,exclusivity, termination rightsProperty—Leasing arrangementsInsurance/Risk Management—make sure insurance covers the USDisputes• Plan against these through proper contracting (costs provisions;arbitration/mediation)• As in the UK, most disputes do not get into court14
    • 15Upcoming US Market ActivityOctober 2013Multi Platform App Developer Mission (San Francisco)Tech talks, workshop, showcase, hack a thonContact: Frank William (frank.william@fco.gov.uk)Digital Mission (New York)Doing Business in the US master class, admission to Ignition, reception & moreContact: Patricia Young (patricia.young@fco.gov.uk)January 2014RealScreen (Washington DC)Discounted registration, broadcasters dinner, receptionContact: Kara Shuman (kara.shuman@fco.gov.uk)February 2014KidScreen (New York)Discounted registration, reception & moreContact: Richard Powell (richard.powellNY@fco.gov.uk)
    • 16Upcoming US Market Activity (cont.)March 2014South By Southwest (Austin, Texas)Trade mission, bespoke networking events, demo day, showcases & moreInteractive Contact: Caitlin McGill (caitlin.mcgill@fco.gov.uk)Music Contact: Phil Patterson (phil.patterson@uktispecialist.com)GDC Showcase (San Francisco)Open table demos. Additional activities tbc.Contact: Frank William (frank.william@fco.gov.uk)2014 – date to be confirmedSync Mission (Los Angeles)Panels, presentations, site visits, reception & moreContact: Carlo Cavagna (carlo.cavagna@fco.gov.uk)
    • Contact InformationPhilippa BurgessPartner & Co-FounderCreative Convergence Inc.www.creativecvg.comwww.twitter.com/creativecvgwww.linkedin.com/in/philippaburgess/Email: pb@creativecvg.comKristian Wiggert, Esq.PartnerCovington & Burling LLPwww.cov.comuk.linkedin.com/pub/kristian-wiggert/11/84/37aEmail: kwiggert@cov.comCarlo CavagnaVice Consul (Creative & Media)UK Trade & Investmentwww.twitter.com/UKTI_CreativeLAwww.linkedin.com/in/cavagnaEmail: carlo.cavagna@fco.gov.ukUK Trade & Investmentwww.ukti.gov.ukwww.twitter.com/UKTIwww.blog.ukti.gov.ukwww.linkedin.com/uktiwww.youtube.com/uktiwebwww.twitter.com/UKTIUSAwww.youtube.com/UKTIUSAhttp://uktiusa.tumblr.com17