Legal Issues for Entrepreneurs

Legal Issues Intellectual Property Intellectual Property Do we need lawyers? Do we need lawyers? What they do What they do What to look for What to look for

Legal Issues Patents Patents Trademarks Trademarks Copyrights Copyrights Trade secrets Trade secrets Licensing Licensing Product & Safety Product & Safety Insurance Insurance Contracts Contracts

Patents What do they do? What do they do? Two types Two types Utility patents Utility patents Design patents Design patents Disclosure Document Program Disclosure Document Program Defensive Publication Program Defensive Publication Program International Patents International Patents

Patents Application Application Introduction Introduction Description of invention Description of invention Claims Claims Declaration Declaration Patent Infringement Patent Infringement

Trademarks Word, name, symbol, slogan Word, name, symbol, slogan 20 years, renewable 20 years, renewable 4 types 4 types Registering process Registering process Written form Written form Drawing Drawing Five specimens Five specimens Fee Fee

Copyrights Definition Definition What things are copyrighted? What things are copyrighted? File-sharing File-sharing Library of Congress Library of Congress Length of copyright Length of copyright

Trade Secrets Confidentiality agreements Confidentiality agreements Difficulty with current management trends Difficulty with current management trends

Licensing Definition Definition How can it be used effectively? How can it be used effectively? Licensing & Patents Licensing & Patents Patent license agreement Patent license agreement Licensing & copyrights Licensing & copyrights Celebrities, cartoon characters Celebrities, cartoon characters Considerations Considerations

Product & Safety Consumer Product & Safety Act (1994) Consumer Product & Safety Act (1994) Product Safety Commission Product Safety Commission 5 people 5 people Roles Roles Claims Claims Negligence Negligence Warranty Warranty Strict liability Strict liability Misrepresentation Misrepresentation

Insurance Why buy insurance? Why buy insurance? Types Types Property Property Casualty Casualty Life Life Workers Compensation Workers Compensation Issues with insurance Issues with insurance Increasing costs Increasing costs Solutions? Solutions?

Insurance Sarbanes-Oxley Act Sarbanes-Oxley Act Issues Issues Unclear Unclear Small businesses Small businesses Foreign companies Foreign companies Board of advisors v. board of directors? Board of advisors v. board of directors?

Contracts What is a contract? What is a contract? Handshakes? Handshakes? 4 Parts of an Agreement 4 Parts of an Agreement Parties and their roles Parties and their roles Transaction described Transaction described Value of transaction Value of transaction Signatures of Parties Signatures of Parties

Contracts Conditions Conditions Offer is made Offer is made Voluntary acceptance Voluntary acceptance Consideration is given Consideration is given Both parties are competent Both parties are competent Contract must be legal Contract must be legal Any sales of more than $500 must be in writing Any sales of more than $500 must be in writing

Contracts Results of Breach Results of Breach Honor contract Honor contract Contract Restitution Contract Restitution