This document discusses strategies for protecting intellectual property and raising funding for projects through crowdfunding platforms. It notes that intellectual property theft costs US companies $250 billion annually. It recommends identifying intellectual property, protecting it with trademarks, patents, copyrights or trade secrets, picking a crowdfunding platform like Kickstarter or Indiegogo, building social capital through blogs and social media before launching a campaign, and creating a pitch. Key steps include understanding intellectual property ownership and dates, and being careful about using others' intellectual property in videos or business plans without permission.
4. 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.
7. 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.
10. 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
11. • 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
12. • Idea
• URL
• Name
• Know how
• Employees
• Contractors
WHAT: Business Plan/Funding
Presentation
13. 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
14. • Inventor
• Website
• Software
• Restaurant
• Traklight!
`
Case Studies
2/ 26/ 13 11:42 AMIP Awareness Assessm ent
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Trademarks
Q5. Do you control and manage the proper use of your trademark by other users
you have authorized?
1. Yes.
2. No.
3. Not sure.
Next
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Important Notice
Please note that any information provided
here does not constitute legal advice, but is
intended to increase your IP awareness.
When filing an application for obtaining
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IP Strategies & Best Practices
Trademarks
Copyrights
Design Patents
Trade Secrets
Utility Patents
Using Technology of Others
Licensing Technology to Others
International IP Rights
IP Asset Tracking
IP category
Last Modified: February 26, 2013
15. 3. PICK A PLATFORM
• REWARDS BASED:
Kickstarter Indiegogo How it works online!
• FEDERAL EQUITY BASED:
Not yet legal Online Business Planning
OTHER:
Angel List, Lending Club, Georgia CF
16. GET READY NOW
Federal Securities Equity is not yet Legal
Create a Pipeline
Same steps as other Financing Sources
17. EQUITY is not Easy
Requirements include:
Business Plan
Financial Statements
Background Checks
Valuation
19. STEP 4: RAISE SOCIAL CAPTIAL
Success is directly related to Social Capital
Social Capital is more than Social Media
Quality not Quantity
social icon: creative nerds, iconarchive.com
22. What they do.
• Genetic Art
– Ts
– Portraits
• Channels
– Obsessed pet owner
– Animal organizations
• Convert Steel shipping containers into
medical clinics
• Cooling/Heating installed
• Most of medical equipment
needs/electric and sink
• Durable
• Quickly Installed
Kaufman study – not a lot of primary research on IPIP Loss – customer list stolen, create a brand and materials but infringing, and computer code not belonging to youIt is not just legal, it is good business. Not just IP attorneys but business attorneys. TI makes more from licensing than products, 40% of US companies’ value does not appear on BS (50% in the EU)
Car – represents Patents – think how many different patents are in a car.Coke – design of the bottleWebsite copyrightTrademark – Coke – protect from Brand confusion – l bought the wrong cookies! Looked it up Fig Newtons 1914ish and Newmans 1997 – hmmmmmm.Coke is $100 billion dollar brand and only $40 billion on the balance sheet…
Example of startup – to show that actually patents least amount of the time - NAME, BRAND, BLOG, Customer or Supplier List, and then Invention or Product – has 100% IP. Patents are more rare for startups! Trade secrets – cheapest but can be easiest to lose.If you patented the wheel (which I found out recently is not the actual tire) if you did not have the right to make a tie rod Example of focus on IP patents, miss the boat on the others, some simple things like protecting Trade Secrets with employees.1 – Simply does not. Only protected in the US. And also actions within the US can impact outside - example patents – until March 2013 changes, once you file in US, you have disclosed your invention and kills ability for international patents. Also, if you publicly disclose your invention with enough detail, you have also killed your ability for international patents 2 – simple ex. copyright – when many parties are doing a project – like these slides to more complex & problematic – patents – if more than one person listed on a patent as owner – regardless of contribution – EACH owner has the right to independently exploit the patent WITHOUT consulting the other.Example of a person who goes to a university and gets one idea from a professor and puts into patent – are they required to list that person as an inventor? 3 – who is actual owner of the IP – if individual inventor or person who filed, need to have a formal written assignment to the Company to assign all the rights otherwise…. 4 – May have a patented process but if an exclusive license to use or sell has been executed, then important to disclose and to understand how/if that impacts your ability to attract investors. 5. For example if you have a contractor developing software for you and they in turn use some freeware and you are charging for the software. You pay the invoice for the contractor and you think that you own this new software. Issues – copyright infringement because free ware used and then resold; if you have not expressly outlined who owns the IP in the software in your contract, you may have not retained the rights to the software. Contractors are not same as employees.
Special guests Dara Albright and Brett Harris to discuss platform picking and raising social capital
Approach is methodical, like a checklist
Multiple inventors have the right
First INVENTOR to FILE and can Disclose and File.
Knowledge is PowerGet informed and you will save time and money.ABSOLUTELY get attorneys or consultants.
Ask Audience what IP for each Case.Maria’s restaurant example - Have the name, working on the signage and everything, do not use yet but want to save money and wait to file until in use (means offered for sale) BUT someone else files – they win – explain Common Law TM but you do not have because not offered (explain Breanna’s pool concept – know your rights). Trade secrets need to be protected – process or recipes – have employees sign off and mention trade secrets specifically – also trade secret is different every state but need to take reasonable steps to protect something of value.Inventor – Phillip with Smart Focus, the need to document in proper inventors’ notebook and file patents but WAIT you infringed on a TM, any funding presentation, competition (crowdfunding will end up with a huge issue because Enabling Public Disclosure – all 3 are needed. Make sure all inventors’ listed – remember that if listed do NOT have to consult with you. Example from PGCC where the first guy said he did not have IP protection and was there seeking help and the second guy left an important piece at home.Website – copyright every 3 months for blog, careful re copyright taking others’ photos – just because no C does not mean that not still copyright issue. Also if you have videos done, make sure you have the copyright.Software created by outsiders – if they violate copyright and put into your code, can be a problem if not shown (open source read the T&Cs regardless). Need to have all IP assigned. Have business attorney check documents.DO NOT FORGET ABOUT managing IP – need to look for dates, renewals, maintenance fees etc.
Microventures, CircleupSoMoLend is debtAngel List – accredited investors
Not all the requirements but not to be done over night.
Pebble Watch campaign was an outlier
Quality not quantify
+DNA Zoo Tees. Funding used to fulfill orders and “ramp up production” – Weak request – no emotional+No Social Media engagement+No pre-work – GO!G3Researched Platform:Social Capital Planning and preparation beforehand. Spending a lot of time at the beginning of the campaign and throughout it making individual/personal connections with people Having a strong presence on social media – FB Campaign for 500 likes BEFORE started campaign Educated followers on Indiegogo BEFORE campaign friends/networks to post to their social media pages PitchVideo – Team members were featured – know who you’re supportingSocial capitalHeavy on Facebook and TwitterNetworkshoutout & support $5000 corporate donation within the first weekintroductions to local reporters in order to get the word out through the news and print materials Promotedhastags, Links BEFOREEDUCATED followers on what crowdfunding/Indiegogo was beforeRequested ideas/suggestions on rewardsCampaign updates 1/weekIndiegogoRespond to Indiegogo comments, FB, TwitterPhotosSet weekly goals to encourage more supportRewards$25 – SM Thank you!, Mother’s Day Shout Out$50 – Access to photo journey$100 Handmade keychain from Kenya$250 Personal thank you from someone benefiting from clinic$500 Printed photo book$1,000 Plaque in clinic & dinner with team$5,000 – Co logo printed in clinicSeasonal PromotionMake Donation for Mother’s Day – Social Media Shout OutsFeatured on Indiegogo’s Blog 2 days Mother’s DaySurpassed goal of $17,650 and ended with $20,175Mother’s Day campaign allowed them to make an emotional connection with audienceEnjoy your day tomorrow and now that there are Kenyan women who will have hope because of this clinic.make your mom feel special while at the same time working to ensure that another mother in Kenya can have a safe Mother's Day.Increased social media presence and connections; donors, media contacts, networkProvided opportunity for donations beyond campaign – reason to follow – supported campaign and emotional connections
Ask Audience what IP for each Case.Maria’s restaurant example - Have the name, working on the signage and everything, do not use yet but want to save money and wait to file until in use (means offered for sale) BUT someone else files – they win – explain Common Law TM but you do not have because not offered (explain Breanna’s pool concept – know your rights). Trade secrets need to be protected – process or recipes – have employees sign off and mention trade secrets specifically – also trade secret is different every state but need to take reasonable steps to protect something of value.Inventor – Phillip with Smart Focus, the need to document in proper inventors’ notebook and file patents but WAIT you infringed on a TM, any funding presentation, competition (crowdfunding will end up with a huge issue because Enabling Public Disclosure – all 3 are needed. Make sure all inventors’ listed – remember that if listed do NOT have to consult with you. Example from PGCC where the first guy said he did not have IP protection and was there seeking help and the second guy left an important piece at home.Website – copyright every 3 months for blog, careful re copyright taking others’ photos – just because no C does not mean that not still copyright issue. Also if you have videos done, make sure you have the copyright.Software created by outsiders – if they violate copyright and put into your code, can be a problem if not shown (open source read the T&Cs regardless). Need to have all IP assigned. Have business attorney check documents.DO NOT FORGET ABOUT managing IP – need to look for dates, renewals, maintenance fees etc.