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

2. 7-2 Intellectual Property  Patents  Copyrights  Trademarks

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

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

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

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 Registration®Entitled To Use Of Notice Of Registration® Basis For Foreign FilingBasis For Foreign Filing

7. 7-7 Trademark Filing Requirements 1)Completion of Written Form 2)Drawing of Mark 3)Five Specimens Showing Use Of Mark 4)Fee

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

9. 7-9 Copyright Protection  Books  Scripts  Articles  Poems  Songs  Sculptures  Models  Maps  Blueprints  Collages  Printed Material On Board Games  Data  Music

10. 7-10 Trade Secrets  Protection Against Revealing Information  Not Covered By Federal Law  Confidentiality Agreement

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

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

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

14. 7-14 Product Liability Claims  Negligence  Warranty  Strict Liability  Misrepresentation

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

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

17. 7-17 Contract Ingredients  Parties Named & Roles Specified  Detailed Description Of Transaction  Exact Value Of Transaction  Signatures of All Parties Involved

18. 7-18 Remedies For Breach  Fulfill Agreement Or Pay Damages  Restitution - Both Parties Agree To Drop Matter