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Innovation Arizona Summit June 11 2013 HOW to SUCCEED


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How to Startup and Succeed: Start Smart and Identify and Protect your Intellectual Property; Pick the right Attorney; Practice Safe Crowdfunding!

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Innovation Arizona Summit June 11 2013 HOW to SUCCEED

  1. 1. HOW TO SUCCEED AT YOURBUSINESS: IDENTIFY & PROTECTINTELLECTUAL PROPERTY"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.11 June 2013Mary Juetten, TraklightJuliet Peters, Becker Peters
  2. 2. • ―Do it Yourself‖ Isn’t Always Low Cost• Context is Cost Saving vs. Adding ValueTIP 1: Beware of DIY Costs
  4. 4. Tip 2: Know the Compensation Options
  5. 5. Compensation OptionsSweatEquityVestingTransferFor CauseForfeitures
  6. 6. Tip 3: First Things First
  7. 7. Got Intellectual Property?Why Care…• IP theft costs US companies $250billion 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 onyour Balance Sheet• Exclude competition; Attractinvestment (incl. crowdfunding);Leverage & license• Avoid IP loss, infringement, orbusiness failureDisclaimer: This is intended to be general information. Nothing in this presentation constituteslegal advice. Please consult with an attorney before making any intellectual property protectiondecisions.
  8. 8. What is IP?• Patents (utility & design)• Copyright ©• Trademark/Service mark TM SM ®• Trade secrets – unsung heroes
  9. 9. 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 becausethere 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 makeor sell
  11. 11. WHO: IP Ownership Challenges• Multiple Inventors• Who you are? Employee of another company• Proper Assignment of IP Rights – personal versuscompany• Assume that Ownership automatically extends outsidethe US
  12. 12. • Idea• URL• Name• Know how• Employees• ContractorsWHAT: Business Plan/FundingPresentation
  13. 13. Tip 4: Short Term Thinking = Dollars out theDoor Later
  14. 14. Document your Company Formation• Buy-Sell Language• Provisions for Death or Divorce• Different Classes of Units• ―Profits Interest‖ Language• Valuation Formula• Deadlock Provision
  15. 15. DIY v. Hire Professionals• Do it Yourself:––• Hire a Professional:– Attorney, Consultant, Legal Zoom, Rocket Lawyer• Secrets:– Notary, TRAKLIGHT’s IP Vault, Copyright software
  16. 16. Tip 5: Practice Safe Crowdfunding
  17. 17. Picking the Right Platform How it works online!• EQUITY BASED: Online Business Plan Required
  18. 18. Start on the Right TrakDo NOT start with creating a:CampaignPitchorBusiness PlanTHIS APPLIES TO ALL FINANCING!Disclaimer: This is intended to be general information. Nothing in this presentation constituteslegal advice. Please consult with an attorney before making any intellectual property protectiondecisions.
  20. 20. READ READ READRead License & Permission to UseCheck out Creative Commons
  21. 21. Ignorance is not a DefenseBe Careful:VideoCopyBusiness Plans
  22. 22. RESOURCES• CfPA, CfIRA• Annual Oct14th – 16th Convention & Bootcamp• – podcast• Getting Started with CrowdfundingInvesting for Dummies in a Day• Crowfunding Hatchery• Cloud – free resources& paid coaching• Crowdbuilder by Leverage PR- in-depthpublicity instruction, task and milestonemanagement, to integrated calendarsand media lists
  23. 23. Tip 6: Have the Right Contractsin Place… From the beginning!So you own it!
  24. 24. Whether Outsourcing or Developing In-HouseDevelopment, Consulting or Work Made for HireAgreementsWork Made for Hire but Cover Your BasesMaster Agreement with SOW AttachedReps and Warranties, Indemnity, InsuranceNon-Disclosure AgreementsNon-Competes?
  25. 25. Bonus Tip: Have an AdvisoryBoard…And/or Technology Advisors!
  26. 26. Tip 7: Hire the ―Right Fit‖Resources
  27. 27. Finding the Right Lawyer• Interview at least three• Experience—technical, business• Philosophy• Ask for referrals• Flexibility• Value
  28. 28. Resources• Incubators & Accelerators• Mentors• SBDC• SCORE• Startup Arizona, America• Competitions – ACA• Innovation Challenge• Resources – - IP Cloud
  29. 29. Questions?IDENTIFY. PROTECT.
  30. 30. Thank YouJuliet PetersBecker Peters, PLLCScottsdale, AZJuliet@beckerpeters.com480.214.9548Mary