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Part of the all day Venture Fast Track: http://www.thecapitalnetwork.org/programs/venture-fast-track/ Critical IP Issues for Startups Entrepreneurs build their businesses, their competitive advantage, and their long-term defensibility around a core of intellectual property. For some entrepreneurs, that will mean a patent portfolio. For many others, however, it will mean a sticky web of trademarks, trade dress rights, copyright, know-how, trade secrets, contractual exclusivity and non-disclosure agreements. Our experts will help entrepreneurs untangle common and critical intellectual property issues to help them with business planning and with explaining the investment proposition and risks to investors. Experts: - Paul Cronin – Nutter, McClennen & Fish - Heather Repicky – Nutter, McClennen & Fish -Chuck Toye - Cognitive Electronics -Mac Dougherty - Cognitive Electronics
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Nutter McClennen & Fish LLP Seaport West 155 Seaport Boulevard Boston, Massachusetts 02210 Telephone 617.439.2000
www.nutter.com
Critical IP Issues for Startups
October 24, 2013
Paul Cronin, Nutter McClennen & Fish LLP Heather B. Repicky, Nutter McClennen & Fish LLP Mac Dougherty, Cognitive Electronics Chuck Toye, Cognitive Electronics
Nutter McClennen & Fish LLP • www.nutter.com 2
Your IP Strategy Should Identify: • Offensive uses of IP – How will you create barriers to
entry that keep competitors behind you
• Defensive uses of IP – How will you keep control of the important aspects of your business
• IP assets – How can you build value using your IP portfolio
• IP liabilities – How will you avoid the potholes
INTELLECTUAL PROPERTY
Nutter McClennen & Fish LLP • www.nutter.com 3
INTELLECTUAL PROPERTY
Short Term
Business Goals
$ Long Term Business
Goals
Marketplace &
Competitors
Technical Need
Timing
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INTELLECTUAL PROPERTY
• Patents • Trademarks/Trade Dress • Copyrights • Trade Secrets • Employment Agreements & NDAs*
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PATENTS
Whoever invents or discovers any new and useful process, machine, manufacture or composition of matter, or any new and useful improvement thereof, may obtain a patent . . . . ”
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PATENTS
• First-to-file system • 20 year term • On-sale/Public disclosure bar • Territorial rights • $
4 Basic Patent Issues Will Immediately Come Into Play As You Are Developing Your IP Strategy
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TRADEMARKS AND SERVICE MARKS
• Definition: word, phrase, symbol, or design that is used to identify the source of goods/services and to distinguish them from others
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TRADEMARKS AND SERVICE MARKS
• Think about developing a brand • Clear your mark • Consider filing for trademark registration,
even if you have not begun using the mark
3 QuickTips Relevant To Trademark Issues:
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COPYRIGHTS
• Requirements: Original work of author • Ownership: Author, unless work made for hire • Open Source Issues
Copyrights are not just relevant to painters and novelists.
Nutter McClennen & Fish LLP • www.nutter.com 10
TRADE SECRETS
• Definition: (1) Information that derives an economic value and is not readily ascertainable and (2) reasonable effort is made to maintain secrecy
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EMPLOYMENT AGREEMENTS & NDAs
• Ownership of IP • Non-competition Agreements (jurisdictional) • Use of NDAs with vendors/suppliers • Spend time coming up with a description that
doesn’t reveal your trade secrets but shows the company value
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Top Of Mind Issues
• Ownership of IP • Protecting your trade secrets • NDAs and the Pitfalls of Disclosure By
Third Parties • Provisional Patent Applications • Copyright Licensing Issues
Nutter McClennen & Fish LLP • www.nutter.com 16
Questions?
Nutter McClennen & Fish LLP • www.nutter.com 17
THANK YOU
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