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Legal Issues for Legal Issues for Entrepreneurs Entrepreneurs

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Page 1: Legal Issues for Entrepreneurs. Legal Issues Intellectual Property Intellectual Property Do we need lawyers? Do we need lawyers? What they do What they

Legal Issues for Legal Issues for EntrepreneursEntrepreneurs

Page 2: Legal Issues for Entrepreneurs. Legal Issues Intellectual Property Intellectual Property Do we need lawyers? Do we need lawyers? What they do What they

Legal IssuesLegal Issues

Intellectual PropertyIntellectual Property

Do we need lawyers?Do we need lawyers? What they doWhat they do What to look forWhat to look for

Page 3: Legal Issues for Entrepreneurs. Legal Issues Intellectual Property Intellectual Property Do we need lawyers? Do we need lawyers? What they do What they

Legal IssuesLegal Issues

PatentsPatents TrademarksTrademarks CopyrightsCopyrights Trade secretsTrade secrets LicensingLicensing Product & SafetyProduct & Safety InsuranceInsurance ContractsContracts

Page 4: Legal Issues for Entrepreneurs. Legal Issues Intellectual Property Intellectual Property Do we need lawyers? Do we need lawyers? What they do What they

PatentsPatents

What do they do?What do they do? Two typesTwo types

Utility patentsUtility patents Design patentsDesign patents

Disclosure Document ProgramDisclosure Document Program Defensive Publication ProgramDefensive Publication Program International PatentsInternational Patents

Page 5: Legal Issues for Entrepreneurs. Legal Issues Intellectual Property Intellectual Property Do we need lawyers? Do we need lawyers? What they do What they

PatentsPatents

ApplicationApplication IntroductionIntroduction Description of inventionDescription of invention ClaimsClaims DeclarationDeclaration

Patent InfringementPatent Infringement

Page 6: Legal Issues for Entrepreneurs. Legal Issues Intellectual Property Intellectual Property Do we need lawyers? Do we need lawyers? What they do What they

TrademarksTrademarks

Word, name, symbol, sloganWord, name, symbol, slogan 20 years, renewable20 years, renewable 4 types4 types Registering processRegistering process

Written formWritten form DrawingDrawing Five specimensFive specimens FeeFee

Page 7: Legal Issues for Entrepreneurs. Legal Issues Intellectual Property Intellectual Property Do we need lawyers? Do we need lawyers? What they do What they

CopyrightsCopyrights

DefinitionDefinition What things are copyrighted?What things are copyrighted?

File-sharingFile-sharing Library of CongressLibrary of Congress Length of copyrightLength of copyright

Page 8: Legal Issues for Entrepreneurs. Legal Issues Intellectual Property Intellectual Property Do we need lawyers? Do we need lawyers? What they do What they

Trade SecretsTrade Secrets

Confidentiality agreementsConfidentiality agreements

Difficulty with current management Difficulty with current management trendstrends

Page 9: Legal Issues for Entrepreneurs. Legal Issues Intellectual Property Intellectual Property Do we need lawyers? Do we need lawyers? What they do What they

LicensingLicensing

DefinitionDefinition How can it be used effectively?How can it be used effectively? Licensing & PatentsLicensing & Patents

Patent license agreementPatent license agreement Licensing & copyrightsLicensing & copyrights

Celebrities, cartoon charactersCelebrities, cartoon characters ConsiderationsConsiderations

Page 10: Legal Issues for Entrepreneurs. Legal Issues Intellectual Property Intellectual Property Do we need lawyers? Do we need lawyers? What they do What they

Product & SafetyProduct & Safety

Consumer Product & Safety Act (1994)Consumer Product & Safety Act (1994) Product Safety CommissionProduct Safety Commission

5 people5 people RolesRoles

ClaimsClaims NegligenceNegligence WarrantyWarranty Strict liabilityStrict liability MisrepresentationMisrepresentation

Page 11: Legal Issues for Entrepreneurs. Legal Issues Intellectual Property Intellectual Property Do we need lawyers? Do we need lawyers? What they do What they

InsuranceInsurance

Why buy insurance?Why buy insurance? TypesTypes

PropertyProperty CasualtyCasualty LifeLife Workers CompensationWorkers Compensation

Issues with insuranceIssues with insurance Increasing costsIncreasing costs Solutions?Solutions?

Page 12: Legal Issues for Entrepreneurs. Legal Issues Intellectual Property Intellectual Property Do we need lawyers? Do we need lawyers? What they do What they

InsuranceInsurance

Sarbanes-Oxley ActSarbanes-Oxley Act IssuesIssues

UnclearUnclear Small businessesSmall businesses Foreign companiesForeign companies Board of advisors v. board of directors?Board of advisors v. board of directors?

Page 13: Legal Issues for Entrepreneurs. Legal Issues Intellectual Property Intellectual Property Do we need lawyers? Do we need lawyers? What they do What they

ContractsContracts

What is a contract?What is a contract? Handshakes?Handshakes? 4 Parts of an Agreement4 Parts of an Agreement

Parties and their rolesParties and their roles Transaction describedTransaction described Value of transactionValue of transaction Signatures of PartiesSignatures of Parties

Page 14: Legal Issues for Entrepreneurs. Legal Issues Intellectual Property Intellectual Property Do we need lawyers? Do we need lawyers? What they do What they

ContractsContracts

ConditionsConditions Offer is madeOffer is made Voluntary acceptanceVoluntary acceptance Consideration is givenConsideration is given Both parties are competentBoth parties are competent Contract must be legalContract must be legal Any sales of more than $500 must be in Any sales of more than $500 must be in

writingwriting

Page 15: Legal Issues for Entrepreneurs. Legal Issues Intellectual Property Intellectual Property Do we need lawyers? Do we need lawyers? What they do What they

ContractsContracts

Results of BreachResults of Breach Honor contractHonor contract Contract RestitutionContract Restitution