What is intellectual property? Why is this important before starting work?

When discussing intellectual property (IP) with founders, I get two very different questions from founders, and both questions  have the same answer.  The first question is, “This IP is my baby, can I keep it instead of giving it to the company?” The second is, “Can’t we worry about IP later?”  

The answer to both questions is always “no” if you aspire to obtain venture capital investment to grow your company. Venture funds will take a hard pass on any startup that does not own or has not taken steps to protect its IP. 

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Why Should I Choose to Form as a Delaware C Corporation if I’m Forming a Startup?

As of 2019, more than 1.5 million business entities have been formed in Delaware – that’s more than 1.5  businesses per resident of the U.S.’s second-smallest state. 

The reason is not that Delawareans are extremely entrepreneurial citizens, of course. Rather, Delaware is the legal home for businesses operating throughout the United States, with nearly 68% of Fortune 500 companies choosing it as their legal starting point, due solely to Delaware’s favorable corporate laws. 

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What is a Startup?

When you hear “startup,” what comes to mind?  Maybe you think of new high-tech ideas being deployed on apps and companies poised to be the next Facebook, LinkedIn, or Uber. Or maybe you think of startups more along historical lines, with tales of technology giants who started in garages, such as Apple in the 1970s (although that story may be more myth than fact).  What about socks? Founded in 2009, sock and underwear maker Stance “saw a category that had been ignored, taken for granted, looked over, and dismissed,” as the firm’s website says. Stance, based in Orange County, Calif., has gone on to raise $116 million in venture capital over five funding rounds, including investments from Menlo Ventures and August Capital.  But socks, dating back to ancient Greece, are decidedly low tech. So can we call Stance a startup?  What Exactly Is a Startup?   “Startup” is an informal term, and while it does conjure images of new technology and famous Silicon Valley brands, a company can be a startup and have nothing to do with tech or the Bay Area.  In the very simplest terms, a startup is a young company. Usually, however, “startup” implies a number of other … Read more

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