Most businesses are unaware of the legal issues businesses can face at the outset. Often it is simple mistakes or omitted steps that jeopardize a company's future. Areas covered during this webinar include: foundational decisions, financial projections, intellectual property, record-keeping, fundraising preparation, employee versus contractor decisions, and entity types.

1. Disclaimer: This presentation is intended to be general information. Nothing in the presentation constitutes legal advice. Please consult
with an attorney before making any intellectual property protection decisions.
Minimize Your Client’s Risk
FROM INTELLECTUAL PROPERTY (IP)
TO CASH FLOW
December 8th, 2015

2. Mary Juetten
CEO Traklight
@traklight
@maryjuetten
mejuetten@traklight.com
• Founder Traklight.com
• Co-founder Evolve Law
• Forbes, ABA LegalTech Contributor
• 30 years business experience
• J.D., CPA, CA
• MSNBC, AZ PBS, SXSW V2V,
LAUNCH Speaker
• SUCCESS Magazine Start Small,
Win Big 2013 winner

3. PETER THORSSON
BUSINESS DEVELOPMENT
Peter Thorsson leads business
development work for Palo Alto
software, maker of LivePlan, where
he crafts strategic partnerships that
help entrepreneurs succeed.

4. ASK Qs

5. Your client’s world

6. Competing Daily Tasks

7. AGENDA
1. Foundational
2. Identify & Inventory IP
3. IP Strategy
4.Financial Projections
5. Compare Actual to
Projections
6. Track Over Time

8. Foundational
• Are you an employee of another
company
• Proper assignment of IP rights —
personal vs company
• Assume that ownership extends
outside the US

9. People: Cofounders;
Contractors; Employees

10. Handshakes = Headaches

11. IP Ownership
Challenge
Multiple Inventors

12. Software Work for Hire

13. Fines, Penalties
(don’t forget interns)

14. Got intellectual proper
Why care…
100% o
companies

15. 80% of a business’ value
is in their IP.

16. Copyright
©
A patent is not:

17. Trademark
A patent is not:
Image courtesy: Shelby Asistio
™ ℠ ®

18. Trade Secrets—
unsung heroes
Not always patents:
Image courtesy: Beverley Goodwin

19. Key Dates to
Remember
• Date of Idea/Inventions (First to
Invent → First INVENTOR to file)
• Date of Use
• Date of Filing
• Date of Conversion
• Renewals

20. Avoid IP loss,
infringement,
or business failure.
When do you need
an IP strategy?
Exclude competition:
Attract investment; and

21. Five IP Mis-steps

22. IP is just for tech startups or tech
companies, and patents are the
only IP for inventors.
IP Mis-steps

23. Patents mean right
to make or sell.
IP Mis-steps

24. You can copy anything
without a copyright ©
IP Mis-steps

25. Domain = TM
IP Mis-steps

26. If I pay for it, I own it.
IP Mis-steps

27. Read, Read, Read
Read contracts, licenses, and
permission to use

28. Read, Read, Read
Check out CreativeCommons.org

29. Strategies to Protect IP
Secrets:
- Notary
- IP Vault
- Copyright software
Hire a Professional:
- Attorney, Consultant,
- LegalZoom, Rocketlawyer
Do It Yourself:
- USPTO.gov
- copyright.gov

30. KPI TRACKING
Set goals with your clients, advise them
on how to achieve them, track financial
trends, and grow faster and more
strategically…

32. UNDERSTANDING KPIS
“WOULD YOU TELL ME, PLEASE, WHICH WAY I OUGHT TO GO FROM HERE?” SAID ALICE
“THAT DEPENDS A GOOD DEAL ON WHERE YOU WANT TO GET TO,” SAID THE CAT.
“I DON’T MUCH CARE WHERE–” SAID ALICE.
“THEN IT DOESN’T MATTER WHICH WAY YOU GO,” SAID THE CAT.
Lewis Carroll. In Alice’s Adventures in Wonderland
In other words, if you do not have a plan for where
you want your business to get to, performance
measurement does not matter much!

33. Businesses grow 30% faster
when they actively plan, track
against that plan, and adjust
for growth?*
*Cranfield University Research
Study
DID YOU KNOW

34. ● Financial KPIs
○ Revenue
○ Expenses
○ Gross Margin
○ Net Profit
○ AR/AP
WHAT TO TRACK

35. ● Track ACTUAL Financial KPIs against:
○ Planned Results
○ Previous Period
○ Same Period Last Year
● Analyze VARIANCE
○ adjust, learn, grow
WHAT TO TRACK

36. Financial Goals
should always
be SMART
WHAT TO TRACK

37. Revenue
Breakdown by
stream
Expenses
Breakdown by
direct costs and
major expenses
WHAT TO TRACK

38. Operating Income
Revenue minus direct
cost and expenses
(except interest and
taxes)
Net profit
Revenue minus direct
costs and all expenses
WHAT TO TRACK

39. Accounts Receivable
A/R balance
Days to get paid (average)
Accounts Payable
A/P balance
Days to pay (average)
WHAT TO TRACK

40. Cash on Hand and Net Cash Flow
WHAT TO TRACK

42. LIVEPLAN
IS ONE SOLUTION
• Automated KPIs
• Integrated with QuickBooks and XERO
• Planned vs. Actual vs. Previous Period
• Reports for relevant time periods
instantly
• Strategic financial management made
easy

43. LIVEPLAN APP DEMO

44. GET TO KNOW LIVEPLAN
JOIN OUR PARTNER PROGRAM
• Receive a free LivePlan
account
• Gain access to our Garrett’s
bike shop demo account
• Receive special volume pricing
options
• Sign up today: www.liveplan.
com/accountants

45. LIVEPLAN EXPERT ADVISOR CERTIFICATION
• Budgeting and Forecasting
• Cash Flow Management
• Business Planning
• Industry Benchmarking
• Financial KPI Dashboard
Confidently offer the proactive advising services
your clients want and need:

46. LIVEPLAN EXPERT ADVISOR CERTIFICATION
Attend our 2 hour certification course
Earn 2 CPE credits
Next course dates:
Wed. Dec. 9th, 2015
Wed. Jan. 13th 2016
12am Eastern; 11am Central; 10am Mountain; 9am
Pacific
Prerequisites required to become certified:
1. See a demo of LivePlan
2. Sync & map an accounting file in LivePlan
3. Build a budget & forecast in your LivePlan account
For a Limited Time: FREE CERTIFICATION!

47. LIVEPLAN EXPERT ADVISOR CERTIFICATION
Qualifications for the directory listing:
1. Be a certified Expert Advisor
2. Have three clients using LivePlan
Have your firm promoted to all of our LivePlan small
business users seeking financial advice on how to
grow their business.
Get included in our Expert Advisor Directory

48. Traklight’s Software Platform

49. Traklight’s Software Platform

50. Traklight’s Software Platform

51. Traklight’s Dashboard

52. Traklight’s Dashboard

53. Traklight’s Snapshot Report

54. Traklight’s Strategy Report

55. Traklight’s IP Inventory

56. Traklight’s Vaults

57. Traklight’s Vaults

58. Custom Portals

59. www.traklight.com
Free Business Risk Assessment
mejuetten@traklight.com
@traklight
Slides available on slideshare.net/Traklight
@maryjuetten