minimize your client's risk: from ip to cash flow

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

Mary Juetten CEO Traklight

@traklight@[email protected]

• 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

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.

ASK Qs

Your client’s world

Competing Daily Tasks

AGENDA

1. Foundational

2. Identify & Inventory IP

3. IP Strategy

4.Financial Projections

5. Compare Actual to Projections

6. Track Over Time

Foundational

• Are you an employee of another company

• Proper assignment of IP rights — personal vs company

• Assume that ownership extends outside the US

People: Cofounders; Contractors; Employees

Handshakes = Headaches

IP Ownership Challenge

Multiple Inventors

Software Work for Hire

Fines, Penalties (don’t forget interns)

Got intellectual property? Why care…

100% of all companies have IP.

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

Copyright©

A patent is not:

Trademark

A patent is not:

Image courtesy: Shelby Asistio

™ ℠ ®

Trade Secrets—unsung heroes

Not always patents:

Image courtesy: Beverley Goodwin

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

Avoid IP loss, infringement,

or business failure.

When do you need an IP strategy?

Exclude competition: Attract investment; and Leverage and license.

Five IP Mis-steps

IP is just for tech startups or tech companies, and patents are the

only IP for inventors.

IP Mis-steps

Patents mean right to make or sell.

IP Mis-steps

You can copy anything without a copyright ©

IP Mis-steps

Domain = TM

IP Mis-steps

If I pay for it, I own it.

IP Mis-steps

Read, Read, Read

Read contracts, licenses, and permission to use

Read, Read, Read

Check out CreativeCommons.org

Strategies to Protect IP

Secrets:- Notary- IP Vault- Copyright software

Hire a Professional:- Attorney, Consultant, - LegalZoom, Rocketlawyer

Do It Yourself:- USPTO.gov- copyright.gov

KPI TRACKING

Set goals with your clients, advise them on how to achieve them, track financial

trends, and grow faster and more strategically…

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!

Businesses grow 30% faster when they actively plan, track against that plan, and adjust

for growth?*

*Cranfield University Research Study

DID YOU KNOW

● Financial KPIs ○ Revenue○ Expenses○ Gross Margin○ Net Profit○ AR/AP

WHAT TO TRACK

● Track ACTUAL Financial KPIs against:○ Planned Results○ Previous Period○ Same Period Last Year

● Analyze VARIANCE○ adjust, learn, grow

WHAT TO TRACK

Financial Goals should always be SMART

WHAT TO TRACK

Revenue Breakdown by stream

Expenses Breakdown by direct costs and major expenses

WHAT TO TRACK

Operating IncomeRevenue minus direct cost and expenses (except interest and taxes)

Net profitRevenue minus direct costs and all expenses

WHAT TO TRACK

Accounts ReceivableA/R balanceDays to get paid (average)

Accounts PayableA/P balanceDays to pay (average)

WHAT TO TRACK

Cash on Hand and Net Cash Flow

WHAT TO TRACK

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

LIVEPLAN APP DEMO

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

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:


Attend our 2 hour certification courseEarn 2 CPE credits

Next course dates: Wed. Dec. 9th, 2015Wed. Jan. 13th 201612am Eastern; 11am Central; 10am Mountain; 9am Pacific

Prerequisites required to become certified:1. See a demo of LivePlan2. Sync & map an accounting file in LivePlan3. Build a budget & forecast in your LivePlan account

For a Limited Time: FREE CERTIFICATION!


Qualifications for the directory listing:1. Be a certified Expert Advisor2. 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

Traklight’s Software Platform

Traklight’s Dashboard

Traklight’s Snapshot Report

Traklight’s Strategy Report

Traklight’s IP Inventory

Traklight’s Vaults

Custom Portals

www.traklight.com

Free Business Risk Assessment

[email protected]

@traklight

Slides available on slideshare.net/Traklight

@maryjuetten

http://traklight.com

http://traklight.com