Protecting your intellectual property is just part of launching and growing your business. Important considerations include:
Choosing the right entity, such as an LLC or a C-Corp, plays an important part in how you manage the business and fund growth. RPL can advise you on your options, create the necessary documents, and file with state and federal authorities.
Monetizing your IP and building your business requires money. Whether you are funding the business out of your own pocket, borrowing from a bank, or raising capital from outside investors, RPL can help you find the right experience to implement your strategy.
It is important to have policies and agreements in place that protect the rights to the IP that is developed, without creating unnecessary contractual obligations as an employer. You will also need policies and procedures concerning vacation time, sick leave, discrimination and harassment complaints, work hours and overtime, social media use, and potentially others. You may also need to evaluate whether the individuals you hire are classified as employees or independent contractors under the law. RPL can assist you in these matters.
You may need to hire a product developer or software developer to bring your product to market. It is important to have the proper independent contractor agreement in place to secure the rights in the IP that is developed. In addition, the agreement will help you set the terms of your engagement and confirm that the relationship is not employer-employee, which is important for tax and other liability reasons. RPL can help you negotiate and prepare the appropriate independent contractor agreement when hiring a developer to assist you in bringing your product to life.
Joint development agreements are used when two businesses want to collaborate to develop a new product or form a collaborative or joint business venture. When dealing with innovative technology, patent rights can be a core component of the joint venture. RPL can help you negotiate and prepare the appropriate joint development agreement to form your new business relationship.