7-1 Session #17B Legal Issues For The Entrepreneur

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Transcript of 7-1 Session #17B Legal Issues For The Entrepreneur

  • Slide 1
  • 7-1 Session #17B Legal Issues For The Entrepreneur
  • Slide 2
  • 7-2 Intellectual Property Patents Copyrights Trademarks
  • Slide 3
  • 7-3 Lawyer Why Have One? Determine What Is Needed Search For Lawyer With Special Expertise How to Select Lawyer One-Time Service or On-Going? Set-Up Comfortable Working Relationship Determine Costs Up-Front
  • Slide 4
  • 7-4 Patents Contract Between Government & Inventor- 17 Year Protection (U.S.) Grants Holder Protection Of Idea Types Utility Design Plant Business Method International WTO deliberations Infringement issues
  • Slide 5
  • 7-5 Patent Documentation 1)U.S. Patent & Trademark Office 2)Disclosure Document - Date Of Conception 3)Application a)Introduction b)Description c)Claims
  • Slide 6
  • 7-6 Trademarks Distinguishing Word/Name/Symbol Benefits Notice Of Exclusive RightsNotice Of Exclusive Rights Entitlement To SueEntitlement To Sue Incontestable RightsIncontestable Rights Prevent Importation Of Goods With Similar MarkPrevent Importation Of Goods With Similar Mark Entitled To Use Of Notice Of RegistrationEntitled To Use Of Notice Of Registration Basis For Foreign FilingBasis For Foreign Filing
  • Slide 7
  • 7-7 Trademark Filing Requirements 1)Completion of Written Form 2)Drawing of Mark 3)Five Specimens Showing Use Of Mark 4)Fee
  • Slide 8
  • 7-8 Copyrights Prevents Others From Copying Original Works Of Authorship Software Added To Law In 1980 Registered With Library Of Congress Requirements Form From PTO Two Copies Of Work Fee- Register of Copyrights Protection Author - Life + 50 Years Institution - Publication + 75 Years
  • Slide 9
  • 7-9 Copyright Protection Books Scripts Articles Poems Songs Sculptures Models Maps Blueprints Collages Printed Material On Board Games Data Music
  • Slide 10
  • 7-10 Trade Secrets Protection Against Revealing Information Not Covered By Federal Law Confidentiality Agreement
  • Slide 11
  • 7-11 Licensing Contract For Rights To Intellectual Property Of Others Property Owner Receives Royalty/Fee Value = Marketing Strategy To Holder Of Patent, Copyright, Trademark
  • Slide 12
  • 7-12 Licensing Factors Recognizable Property? Recognizable Property? Complement Product/Service Complement Product/Service Experience With Property Experience With Property Long-Term Outlook Long-Term Outlook Kind Of Protection Kind Of Protection Commitment? Commitment? Renewal Options/Terms Renewal Options/Terms
  • Slide 13
  • 7-13 Product Safety/Liability Government Consumer Product Safety Acts are Generally Aimed at Safeguarding Public Interest with Respect to: Ensuring Standards Avoiding Substantial Hazards Controlling Dangerous Defects
  • Slide 14
  • 7-14 Product Liability Claims Negligence Warranty Strict Liability Misrepresentation
  • Slide 15
  • 7-15 Types Of Insurance Property fire, burglary, business interruption Casualty costs of defense, judgment, product liability Life for corp. executives Workers Compensation Bonding - protects company against employee responsibility e.g. theft, lack of performance
  • Slide 16
  • 7-16 Contracts Legally Binding Agreement Between Two Parties Requirements Offer is made Acceptance (voluntary) Consideration (something of value) Competency (between competent parties) Legal (must be on legal grounds) $500+ Must Be In Writing
  • Slide 17
  • 7-17 Contract Ingredients Parties Named & Roles Specified Detailed Description Of Transaction Exact Value Of Transaction Signatures of All Parties Involved
  • Slide 18
  • 7-18 Remedies For Breach Fulfill Agreement Or Pay Damages Restitution - Both Parties Agree To Drop Matter