Featured Guest Contributor Article: The 3 Elements to Avoid the Accidental Franchise

Special-franchise-edition

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...]

LQ Patent: Don’t Miss the Virtual Mark!

U.S. Patent Label

Put Your Patent Markings on Your Website! The new Patent Act allows patent owners to post their patent numbers on a publicly available website instead of on a product label.  We foresee this small but important new benefit, called “Virtual Marking,” will empower patent owners to streamline production.  In some cases, virtual marking should simplify the bill of materials (BOM) by replacing a variable custom line item with a universal label that works for all the owner’s products. Gone are the days of changing custom product labels just to add or remove patent numbers. It is practically free to add numbers … [Read more...]

Protect Your Ideas, Your Brand, Your Business

New Business Minnesota Feb 2010

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...]