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Part 3 of 3.slides.building a stronger business.vendors + ip
- 2. Laurie M. Lee, Esq. Business Attorney
- 4. Photo of a strongly built house YOU NEED A PLANE.
- 7. VENDOR REL ATIONSHIPS U N D E R S TA N D I N G A N D G E T T I N G T H E D E A L
- 8. What are vendors? What has your experience been like? Who are your current vendors? Do you have a written contract? What is your level of satisfaction?
- 9. THE USUAL HIRING PROCESS: 1) The vendor sends or gives you a contract to sign. 2) You glance at it – maybe you actually read it. 3) You realize there are things missing. 4) You realize there are provisions you don’t understand. 5) You don’t ask questions. 6) You don’t negotiate. 7) You sign the contract and hope for the best. 8) A little while later, the vendor makes you mad. 9) You try to fire the vendor but can’t. 10) You get mad and leave things as they are.
- 10. SYSTEM FOR DEALING WITH VENDOR CONTRACTS: 1) Read the contract carefully. It matters. 2) Ask questions of the vendor. 3) If you don’t like the terms, negotiate them. 4) If you don’t understand the contract, talk to an attorney. 5) If you’re worried about the contract, talk to an attorney. 6) If you have a mentor, talk it over with a mentor then talk to an attorney. 7) Do not sign the contract until you are completely comfortable. 8) No crossing your fingers and hoping for the best. 9) Make an informed business decision then take the risk if it’s worth it.
- 11. HANDLING NEGOTIATIONS Things to Remember: It’s always ok to negotiate. You always have a choice. The most successful businesses negotiate. Book Recommendation: Never Split the Difference by Chris Voss
- 15. CALENDAR When are you going to address this concern? AUDIT SHEET: VENDOR RELATIONSHIPS CONCERNS QUESTIONNAIRE
- 17. WHAT YOU CREATE FOR YOUR OWN BUSINESS FOR YOUR CLIENTS
- 18. WHAT DO YOU CREATE FOR YOUR CLIENT? Custom Product s
- 19. WHAT DO YOU CREATE FOR YOUR CLIENT? Logos Graphics Images
- 20. WHAT DO YOU CREATE FOR YOUR CLIENT? Drawing s
- 21. WHAT DO YOU CREATE FOR YOUR CLIENT? Custom Designs
- 22. WHAT DO YOU CREATE FOR YOUR CLIENT? Layouts Plans
- 23. Processes Checklists Manuals WHAT DO YOU CREATE FOR YOUR CLIENT?
- 25. PATENTS • Physical Thing • United States Patent & Trademark Office (USPTO) • Application Process • Scientific Patents = The right granted to an inventor that allows them to exclude all others from making, using, or selling their invention for 20 years.
- 26. COPYRIGHT • Common Law Copyright • Registered Copyright – US Copyright Office • Licenses • Assignments Copyright = A protection given to the creator of a creation that is in a tangible medium of expression (in other words, it must be set out for people to see and not just an idea).
- 27. COPYRIGHTS TIP: Copyright Notice © 2020 The Legal Department for Service Professionals, PA
- 28. TRADEMARKS Trademark = A word or design that appears on goods/services to distinguish them from others in the market. They indicate the source of the goods/services and are intended to protect consumers. BRANDING
- 29. What is a Trademark? Designed to protect consumers. Name, Logo, Slogan, Tagline, Branding Images. Identifies SOURCE of goods and services. Distinguishes a business from others. What are the benefits of having a Trademark? Distinguishes a business from others. Adds value to a business.
- 30. What can and can’t be trademarked? 1. Someone else’s name. 2. Generic names and words. 3. Descriptive words. 4. Locations, offensive words, etc.
- 31. What are the different types of Trademarks? 1. Common Law Trademark TM 2. State Trademark TM 3. Federal Trademark © 4. International Trademark ©
- 32. FEDERALLY REGISTERED TRADEMARKS Word Mark Design Mark Industry Specific 45 Classes
- 33. How can you protect your common law trademark? 1. Select your trademark(s). Business Name Business Name Stylized Logo Logo with Business Name Tag Line Service Line Name Images COMMON LAW TRADEMARK
- 34. How can you protect your common law trademark? COMMON LAW TRADEMARK 2. Add common law Trademark notice TM superscript. TM Add to the mark you selected. Use everywhere! Can have multiple marks.
- 35. FAQ: Who do I call if someone tries to use my common law trademark? What is the difference between a Trademark and Fictitious Name? (d/b/a) What is the difference between a Trademark and a Domain Name? COMMON LAW TRADEMARK NOTICES
- 36. CALENDAR When are you going to address this concern? AUDIT SHEET: INTELLECTUAL PROPERTY CONCERNS QUESTIONNAIRE
- 38. Laurie M. Lee, Esq. Business Attorney
Editor's Notes
- The Established Flyers: Most of our clients come to us once they’ve been in business for several years. They started their firms and took a lot of risks at the beginning. They were comfortable figuring things out as they went along – but they knew there were things they didn’t know. The challenge was that there was so much to focus on that they had to choose the priority that made them money. They knew that they needed to do things legally sound but there wasn’t resources to put everything in place. Now they want to stabilize and they know it’s time to put some foundations in place. No more building with toothpicks and bandaids – they know their growth needs to be supported by strong infrastructure. So they come to us to help them put that structure in place. They can then continue to grow without fear of collapse. The Start-Off the Grounders: Just a few of our clients are start-ups. But they are special start-ups – the kind that know they need to build infrastructure and they want it in place before (or shortly after) they start. They don’t accept as much risk. These are the types of personalities who like to have everything lined up so they don’t have to worry. They want to build from the ground up. These are the only start-ups we serve because they know that the structure we offer is important and they are willing to prioritize getting it done.
- Why Should You Build Infrastructure? It builds strength in your foundation so your business can support growth. It promotes good business by creating successful business relationships (through solid and honest contracts). It allows you to avoid problems, and for those that are unavoidable it can help you find an easier resolution. It increases the value of the business, which is great for when it’s time to make a transition. You’ll be drinking from a fire hose in this class. It will be a lot of information. You will experience some overwhelm and discouragement. It’s important to know what needs to be done. Not that you have to run out and do it all at one time. You’ll have a list of issues you will need to address. I want you to pick ONE THING to tackle before this class ends. The other issues on your list will go on your calendar. You’ll pick them up and deal with them at certain points in the future. You’ll make your decisions on what to do first based on your own priorities and circumstances. Terminology Client vs. Customer Contract vs. Agreement Company vs. Business
- Vendors are those businesses who provide our businesses with products and services. We are their clients. They may provide us with IT management, software subscriptions, bookkeeping, accounting, cleaning, website design, marketing, consulting, promotional products, supplies and so on. And I include landlords in this category – we rent office space from them. Our relationships with our vendors can be short term or long term. Depending on what they are providing us, we may benefit from having a well-defined relationship in the form of a written contract. For long term relationships – or for really important services – or really expensive products – it’s critical to have a written contract – for obvious reasons.
- Here’s where the problem comes up. You’re busy. You don’t like to read tedious contracts. You have so many other ways to spend the time than to read through the contract carefully and think about what it means. So you sign and move on. Some time later, a problem with the vendor arises. The contract says what it says – and it’s not helpful to you. Now you’re stuck. You live with it or you fight it. And neither is a good solution for a small business who can’t afford to waste resources. Building your infrastructure in this area means you have two options: You make yourself take the time to read the vendor contracts and learn what you need to know to make good decisions – before you sign. Or you hire someone to review the contracts for you, explain what they mean – modify them as necessary to protect you – and you look them over before you sign.