Tip #3:Short Term Thinking = DollarsOut the Door LaterDocument Your CompanyFormation
Buy-Sell Language Provisions for Death or Divorce Different Classes of Units “Profits Interest” Language Valuation Formula Deadlock ProvisionYour (LLC) Operating Agreement MustHave:
Tip #4:Identify & Protect yourIntellectual Property
Technical Co-FounderOutsourcing YourDevelopmentIn-House DevelopmentIdentify & Protect Your IP
Actively protect it Trademarks Patents Trade Secret Protection IP Identification and StorageProduct Traklight at www.traklight.comSafeguard Your IP
Business Lawyer ($$$) IP Lawyer ($$$$$) Traklight.com ($)IP Identification & ProtectionOptions
Do it Yourself IP Identification & Protection ID your IP› Know prior knowledge of IP required- likeTurboTax!› Get a custom report outlining potential IP andproviding strategic advice for protection IP Vault› Encrypted storage for sensitive documents,ideas, files› Time-stamped verificationTraklight.com
Technology Assignment Agreementor Exclusive License• Broad as possible• Terms should be worldwide, right,title or interest to company andforever (perpetual)• Confidentiality• Ability to get injunctive relief• Strong Reps and WarrantiesEnsure Your Ownership WhenWorking with a Technical Co-Founder
Tip #6:Have the Right Contracts inPlace…from the Beginning!
Whether Outsourcing or DevelopingIn-HouseDevelopment, Consulting or Work Made forHire AgreementsWork Made for Hire but Cover Your BasesMaster Agreement with SOW AttachedReps and Warranties, Indemnity, InsuranceNon-Disclosure AgreementsNon-Competes?
Bonus Tip:Have an Advisory Board…and/or Technology Advisors
INTERVIEW AT LEAST THREE EXPERIENCE—TECHNICAL,BUSINESS PHILOSOPHY ASK FOR REFERRALS FLEXIBILITY VALUEFinding the Right Lawyer
Juliet PetersBecker Peters, PLLCScottsdale, AZJuliet@beckerpeters.com480.214.9548Thank You
30% OFFID your IP Traklight.comUse the coupon code NEWMEM30offer ends 5-3Get started on Tip #4 TodayStay informed about IPemail@example.com/traklightMay Free Webinar:AVOID Litigation with attorney Maria SpethWhen: May 22nd from 11:30-12:30 PSTCost: FREEEmail with registration link to follow presentation.