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When entrepreneurs establish a new business, they must make some critical decisions about the detailed elements of the firm. The first steps for establishing a new firm are illustrated in figure 10.1. The choice of a legal form, name, logo, and other formal elements are critical to a successful future. The right name and logo can be the key to the path to building a significant brand. Consider Sony, Intel, and IBM as examples of firms that built a big brand. The legal form of the venture should match the objectives of the entrepreneurs, customers, and investors of the corporation. Furthermore, there should be a plan to build and protect the intellectual property of the new venture. The proper array of trade secrets, patents, trademarks, and copyrights can add up to a set of very valuable proprietary assets. For many new firms built on innovation and technology, intellectual property can provide a temporary monopoly in the marketplace.
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Palm
Computing, Inc. (A)
Discusses patents, licenses, and deal-making in a start-up
venture. Jeff Hawkins, holds a patent on Palm Print, a pattern
recognition algorithm. Focuses on Hawkins's efforts to start
up a new, noncompeting venture that requires cross-licenses
for the Palm Print enhancements.
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Cadence
vs. Avant! (A)
Chronicles the origins and evolution of a landmark intellectual
property dispute between Cadence Design Systems and Avant!
Corp. Cadence was the leading developer of electronic data
automation software used in the computer-aided design of sophisticated
integrated circuits. Chronicles the highlights of the legal
battle, the marketplace battle between the firms, and the
public relations struggle. Concludes by asking what the two
CEOs should do in their respective positions. The central
issues are: what is intellectual property, how to protect
intellectual property, and how to respond effectively to perceived
theft of intellectual property. Teaching Purpose: To teach
issues related to protecting intellectual property and handling
disputes regarding intellectual property.
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Stanford
Office of Technology Licensing: Crossroads in the Yamaha Alliance
Describes Stanford OTL's strategy and evolution from its founding
in 1969 through January of 1997. In addition, descriptions
of the technology licensing practices of both Stanford and
MIT are presented in the case. It provides a detailed example
of how Yamaha licensed Stanford FM synthesis technology for
its electronic music products, and over a 25 year period became
a one of Stanford's strategic partners in commercialization
of technology. |
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(DVD Section 10.1) Karen Richardson: Implications of Sarbanes-Oxley
Karen explains the rigorous reporting expectations created by Sarbanes-Oxley, and their effect on a company. |
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Stanford Technology Venture Formation - Entrepreneurial Legal Videos
Dan Dorosin of Fenwick & West LLP discusses legal isses related to:
- Company formation
- intellectual property considerations, and
- Key term sheet issues that should be kept in mind when negotiating with VCs
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Elon
Musk: Patents and Paypal
Patents are critical in different ways in different stages
of a company. Patents in the early stage are very important
to get a competitive edge. Ultimately patents that are most
valuable are those on composition and matter.
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David
Neeleman: Ticketless Travel
Many of you are interested in technology and the application
of technology. At Morris Air, we invented ticketless travel.
Technology is very important and has revolutionized many things
in the airline industry. At JetBlue, we call technology high-tech,
high-touch. You need to be able to do both.
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Elon
Musk: History of SpaceX
Space X is about 30 people. They outsource all the heavy machining
like welding etc. There are no lawyers at SpaceX and Elon
explains why. |
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Eric Schmidt and Larry Page: Legal Issues
Google has been caught in the middle of free speech vs. censorship issues. The Digital Millennium Copyright Act states that if a company removes information from the internet when requested, they cannot be held liable. If the company is then counter-notified, they can put the information back up and remain legally neutral. Google has followed this policy, but it has nevertheless sparked controversy. |
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Katharine Ku: Licensing Success Rate
Simply having a new technology is not enough to gain a license. Kathy talks about how they assess each technology, and what recommendations they might make to the entrepreneur. |
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NCIIA: An IP Policy Primer
This resource is helpful to anyone who is responsible for creating or revising an institution's intellectual policy (IP) statement. This primer was greated as a place to gather preliminary information. IP professionals from a variety of backgrounds were interviewed, and good policy recommendations are provided. A worksheet is included, with key questions, such as: Is it worth inventing? What is being sold? Is it worth protection? Who is it being sold to? Am I making money and reaping other benefits? |
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Legal Aspects of Entrepreneurship: A Conceptual Framework by Constance E. Bagley
Identifies many of the legal issues likely to arise in the course of starting and growing a company and to suggest strategies not only for ensuring compliance with the law but also for using the law and the legal system to increase predictability, maximize value, marshal resources, and manage risk. Explains why entrepreneurs and managers cannot just rely on lawyers to deal with the legal aspects of business and suggests ways to manage legal risk and handle legal disputes. Teaching Purpose: To identify many of the legal issues likely to arise in the course of starting and growing a company and to suggest strategies not only for ensuring compliance with law, but also for using the law and the legal system to increase predictability, maximize value, marshal resources, and manage risk. |
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