Many inventors will ultimately license their patents to others who will develop a business around those patents. Likewise, many copyright and trademark owners license their intellectual properties to others in exchange for a royalty. While these arrangements are common, entrepreneurs and their attorneys should understand that if three specific elements are present, these licenses are franchises under Minnesota and federal law, and the failure to register that franchise in Minnesota (and other states), and make proper disclosures to the licensee, could result in numerous penalties, including felony charges. The … [Read more...]
Featured Guest Contributor Article: The 3 Elements to Avoid the Accidental Franchise
Protect Your Ideas, Your Brand, Your Business

Don’t Make the Mistake of Not Securing Your Intellectual Property and Patent Rights. Originally published in New Business Minnesota, February 2010. How much of the value of your company is in its intellectual property (IP)? Depending on what business you are in, the answer can range from “some value” to “the most critical asset,” or somewhere in between. Every business should be able to answer this question. If you tend toward the “critical asset” end of the spectrum, then the first IP protection issue for you to address is: Do you even own your IP? Work Made for Hire To resolve this … [Read more...]



