If you have identified all your potential IP and never operated without professionally prepared documents, you will likely be confident about the value of what you worked so hard to create. And if not, now is the time to turn to your IP. Here are a few things that you, as a startup founder, should do to protect your intellectual property and get started on the right track.
By Stephen K Lehnardt
- Have you planned to structure the sale of both your business and your intellectual property?
- To what degree are the products of your company products of an intellectual property?
- Who owns the property, you or the company?
- Is it possible that a previous employer has claim to your intellectual property?
Heed some advice given in a recent Forbes article titled “Start With The End In Mind: Four Must-Dos For Intellectual Property.”
The simple fact is that with a personal business, so much of your own life – your blood, sweat, tears and ideas – go into the business. Accordingly, that planning for the business is truly a bit of life planning for yourself.
So how can you protect your intellectual property and what is your property in the first place? And, if you are already at the point of sale, how do you go about protecting and valuing that intellectual property?
For more information in Liberty, MO and the Kansas City Area about effective planning and to access free information and tools to organize your estate, visit our elder law and estate planning website.
Reference: Forbes (June 9, 2014) “Start With The End In Mind: Four Must-Dos For Intellectual Property”