United Inventors Association - Practice Safe Crowdfunding - National Hardware Show
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"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. Mary Juetten, Founder & CEO Practice Safe Crowdfunding™: Raise money while Protecting your Ideas May 5th, 2014 UIA – National Hardware Show
description
Crowdfunding or other fundraising comes with intellectual property challenges. Follow five steps to crowdfunding to ensure success.
Transcript of United Inventors Association - Practice Safe Crowdfunding - National Hardware Show
"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.
Mary Juetten, Founder & CEOPractice Safe Crowdfunding™: Raise money while Protecting your Ideas
May 5th, 2014UIA – National Hardware Show
Inventors’ World
Innovation Capture is Hard
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.
What is IP?
• Patents (utility & design)• Copyright ©• Trademark/Service mark TM SM ®• Trade secrets – unsung heroes
NO legal advice provided!
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 How it works online!
• FEDERAL EQUITY BASED:Not yet legal Online Business Planning
OTHER:Angel List, Lending Club, Georgia CF
GET READY NOW
Federal Securities Equity is not yet Legal
Create a Pipeline
Same steps as other Financing Sources
EQUITY is not Easy
Requirements include:
Business Plan
Financial Statements
Background Checks
Valuation
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
social icon: creative nerds, iconarchive.com
CONTENT IS KING
Expert
Blogs
Speaking
Social Media
PR
Start working on this
before you launch your
campaign.
Traklight blog
Case Study: Lessons Learned
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
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
Results?!
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 CreativeCommons.org
Questions?
Mary Juetten
@traklight @maryjuetten
IDENTIFY. PROTECT. SUCCEED.
www.traklight.com
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