protecting your business ideas oct 10th microsoft scottsdale
DESCRIPTION
How to protect your ideas while crowdfunding or raising funds; for startups, inventors, entrepreneurs and companies.TRANSCRIPT
PROTECTING YOUR BUSINESS IDEASMary Juetten, Founder & CEO
Jill HowardAllen, COO
Microsoft: October 10, 2013
"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.
What is IP?
• Patents (utility & design)• Copyright ©• Trademark/Service mark TM SM ®• Trade secrets – unsung heroes
NO legal advice provided!
Got Intellectual Property?Why Care…
• IP theft costs US companies $250 billion 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 on your Balance Sheet
• Exclude competition; Attract investment (incl. crowdfunding); Leverage & license
• Avoid IP loss, infringement, or business failure
Disclaimer: This is intended to be general information. Nothing in this presentation constitutes legal advice. Please consult with an attorney before making any intellectual property protection decisions.
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 because there 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 make or sell
Start on the Right Trak
Do NOT start with creating a:
Campaign
Pitch
or
Business Plan
THIS APPLIES TO ALL FINANCING!Disclaimer: This is intended to be general information. Nothing in this presentation constitutes legal advice. Please consult with an attorney before making any intellectual property protection decisions.
Summary
IDENTIFY IP
PROTECT IP
PICK A PLATFORM
BUILD SOCIAL CAPITAL
CREATE A PITCH
Strategies:1.ID IP 2.Protect IP
WHY WHO
WHAT
WHEN
WHERE
✔
WHO: IP Ownership Challenges
• Multiple Inventors• Who you are? Employee of another company• Proper Assignment of IP Rights – personal versus
company• Assume that Ownership automatically extends outside
the US
• Date of Idea/Invention (First to Invent First INVENTOR to file)
• Date of Use• Date of Filing• Date of Conversion• Renewals
WHEN: Key Dates to Remember
• Idea• URL• Name• Know how• Employees• Contractors
WHAT: Business Plan/Funding Presentation
Strategies to Protect IP
• Do it Yourself:– USPTO.gov– Copyright.gov
• Hire a Professional:– Attorney, Consultant, Legal Zoom, Rocket Lawyer
• Secrets:– Notary, IP Vault, Copyright software
• Inventor• Website • Software• Restaurant• Traklight!
`
Case Studies
3: PICK A PLATFORM
• REWARDS BASED:Kickstarter, Indiegogo, Rocket Hub How it works online!
• EQUITY BASED:Not yet legal Online Business Planning Required• OTHER:
Angel List, Lending Club, Georgia CF
GET READY NOW
Equity is not yet Legal
Create a Pipeline
Same steps as other Financing Sources
EQUITY is not Easy
Requirements include:
Financial Statements
Background Checks
Valuation
Business Plan
REWARDS
CHOOSE THE BEST PLATFORM FOR YOU:
• ALL OR NOTHING• % BASED ON TYPE• BE REALISTIC
STEP 4: RAISE SOCIAL CAPTIAL
Success is directly related to Social Capital
Social Capital is more than Social Media
Quality not Quantity
CONTENT IS KING
Expert
Blogs
Speaking
Social Media
PR
Start working on this before you launch your campaign.
Case Study: Lessons Learned
What they do.
• Genetic Art– Ts– Portraits
• Channels– Obsessed pet
owner– Animal
organizations
Campaign attempt #1
Seriously?... Try again?
• Lessons learned• New plan of action• New cause• New business
opportunity
The new plan.
• Pre-Selling• HEAVY PR
– Social Presence– Local media
• Partnering• Get it in writing• New rewards structure• SCHEDULE
UPDATE
ONLINE
Campaign
Business Plan
Projections
`
STEP 5: CREATE PITCH
Ignorance is NOT a Defense
Be Careful:
Video
Copy
Business Plans
READ READ READ
Read License & Permission to Use
Check out Creative Commons
Questions?
Mary Juetten
@traklight
IDENTIFY. PROTECT. SUCCEED.
www.traklight.com
Jill HowardAllen
@traklight