Entity Formation & IP
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What to consider when forming an Entity for your startup and developing your Intellectual Property (IP) strategy. Also Lean Startup Methodologies
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Entity Formation & IP
- 1. Entity Formation & IP A Startup Founder Perspective Paul S. Heirendt StartLouis February 10, 2015
- 2. My Startup Journey As an Intrepreneur Paul S. Heirendt StartLouis February 10, 2015 Now As an Entrepreneur Acquired by Acquired by Acquired by Acquired by
- 3. My Startup Journey Currently - St Louis Paul S. Heirendt StartLouis February 10, 2015 Currently - California
- 4. Reasons for Entity Formation • Multiple founders • Hiring employees • Using contractors • Liability issues • Tax issues • Raising funding • Creating IP • Founder/employee incentives • Launching • Fast exit Paul S. Heirendt StartLouis February 10, 2015
- 5. Entity Formation & IP Go Hand In Hand • What is a Startup • Bootstrap or Raising Capital • If you are starting a business you are forming an entity - which type? • If you are creating anything new you are creating IP of some form • Someone will own that IP - either the individual or the entity Paul S. Heirendt StartLouis February 10, 2015
- 6. Establishing and Maintaining Ownership of IP • Copyright law is often used to determine ownership rights • Ownership is inherent in the creation - fixed form • If you didn’t create it - you don’t own it • UNLESS - “work made for hire” two forms… 1. work prepared by an employee within the scope of employment 2. if it is specially ordered or commissioned 1. obtain a written agreement 2. Pay them something Paul S. Heirendt StartLouis February 10, 2015
- 7. Commissioned “work made for hire” • for use as a contribution to a collective work • as part of a motion picture or other audio-visual work • as a sound recording • as a translation • as a supplementary work • as a compilation • as an instructional text • as a test • as answer material for a test • as an atlas Paul S. Heirendt StartLouis February 10, 2015
- 8. Lessons Learned for Getting Started • Establish who is the core team • The T’s = Team, Technology, Trajectory & Traction • Establish strengths and roles - everybody has to be a generalist • Get Something In Writing - negotiate the structure EARLY • Find a way to get in front of customers and LEARN • Fail FAST - Fail OFTEN - Fail GRACEFULLY - YOU MUST LEARN Paul S. Heirendt StartLouis February 10, 2015
- 10. Q&A Entity Formation & IP A Startup Founder Perspective Paul S. Heirendt StartLouis February 10, 2015