5 Things Every Creative Entrepreneur Should Know About IP and Business Law

Posted under , , , , , on January 26th, 2012 by Michelle Comments Off

Today was the first Lunch and Learn at Cincinnati CoWorks, and we had a great talk from Erich Hemm, the founder and principal of the Law Offices of Erich Hemm, LLC. He’s based here in Cincinnati and helps a ton of start-ups cover the bases when it comes to intellectual property.

I think a lot of creative entrepreneurs get so caught up in the BIG IDEA they’re trying to execute that the legal details easily fall by the wayside. You might look up one day and think, “Should I be a corporation or have contracts or something?” It’s important stuff, but not necessarily fun for those of us focused on writing, design, programming or another passion.

Hemm shared a ton of good advice today, but I’m going to sum up a few points that stuck out to me:

1.) Know Your Current Situation If you’re making the leap from full-time employment to entrepreneur, you need to think about your legal obligations to your current employer. Do you have an employment agreement? Or a non-compete? Does your employer own any ideas you come up with while on the payroll? Think through these questions before you make the break.

2.) Not All Entities Are Created Equal We’re talking business entities, here, and it’s a good idea to have one. Forming a C-corp, S-corp or LLC helps protect your personal assets if something should go awry with your business. Hemm suggests steering clear of what he calls the “P words”—proprietorship and partnership.

3.) Keep Your Paperwork in Order There’s proper documentation associated with each type of entity, and it pays to invest in that preparation. Even if you have a one-person LLC, for instance, you need to have a Membership Agreement. Take the appropriate steps to make your business legitimate.

4.) Plan for the Divorce While You’re Still on the Honeymoon Starting a business with your best friend? Or a couple of folks with complementary skills? Now’s the time to figure out who’s responsible for what and how you’ll proceed if one person wants out of the business. As Hemm says, an ounce of prevention is worth a pound of cure.

5.) Choose a Brand Name You Can Protect Your brand’s name is part of your business’s intellectual property, but some names are easier to protect under the law than others. A generic name (i.e. Hardhat Construction) is harder to protect than something arbitrary (i.e. Apple) or fanciful (i.e. Lululemon). Keep that in mind when you’re choosing a company moniker.

Want to learn more? Don’t miss our next Lunch and Learn. It’s on Thursday, February, 9, with Lorain Pettit, CPA. She’ll be offering up advice on tax issues for small business owners. It’s FREE, so we hope to see you there (I mean, here, at Cincy Coworks)!

CincyCoWorks is Not Just for Freelancers!

Posted under , , , on January 16th, 2012 by marcelina Comments Off

Last Thursday CincyCoWorks hosted two events: a Lean Start Up MeetUp group and Judge Fanon Rucker Campaign.  For the Lean StartUp MeetUp meeting the folks at The Brandery.org stopped by to talk about how to be a part of the upcoming accelerator class.  They shared great information on how to apply, what to look for in an Intellectual Property attorney, and various other helpful tips.  There were approximately 30 – 35 folks who stopped by for the Lean Start Up.

Meanwhile…..

In the front of end of CincyCoWorks, the campaign team for Judge Fanon Rucker met for a strategy meeting.  Judge Rucker is running for Ohio Supreme Court.  Pretty exciting to have a state wide campaign team working out our co-working space!

Need space for an event?  Drop us a line at info@cincycoworks.com.  We are more than happy to show you the ropes!

 

 

Five Not So Random Considerations for New Businesses…

Posted under , , on January 12th, 2012 by marcelina Comments Off

…and Then Five More.”

The presentation will explore solutions to issues and considerations faced by new businesses as they move from a good idea to launch to success.

Here are a few tidbits about our presenter. Erich Hemm is the founder and Principal of the Law Offices of Erich Hemm, LLC, a Cincinnati based firm specializing in business, intellectual property and non-profit law and serving clients throughout North America and abroad. He is licensed in the states of New York and Ohio, and is a registered patent attorney.

Mr. Hemm has also served as a Foreign Trade Associate for the Canadian Consulate General and as a business and marketing consultant, helping local, regional and global businesses create opportunities and expand their markets. He is himself an inventor and business owner, and his professional practice focuses extensively on the issues and challenges faced by new and emerging businesses.

You can reach out to Erich at www.hemmlaw.com

Please note, the date is THURSDAY, the 26 (not the 27). My error in the first post!

RSVP to http://twtvite.com/lunchnlearn201201

Marcelina
Your Friendly CCW Social Media Cruise Director

First Two Lunch & Learns in 2012

Posted under , , , , on January 9th, 2012 by gerard Comments Off

Happy New Year!

Our first Lunch and Learn will be on Thursday, Jan. 26 from 11:30 AM to 1 PM. Our first guest is Erich Hemm, an Intellectual Property Lawyer who focuses on small biz owners/freelancers and entrepreneurs (Please RSVP: http://twtvite.com/lunchnlearn201201).

Our second guest is Lorain Pettit, CPA. She will provide us with some tax time advice! She will join us on Thursday, Feb. 9, 11:30 AM to 1 PM (Please RSVP: http://twtvite.com/lunchnlearn-cpa).

Please note, except for January, the L & L will try to be on the second Thursday of the month.

The L & L are open to the public! Feel free to invite guests. All we ask is that you RSVP on the twtvite link for a head count.

Finally, if there is a topic you would like to have covered or an expert you would like for me to invite to present, let us know!

Cincy CoWorks Lunch and Learns begin in 2012!

Posted under , , on December 21st, 2011 by marcelina 1 Comment

Beginning in January we are introducing the Cincy CoWorks Lunch and Learn Series.  Every second Thursday of the month from 11:30 AM to 1:00 PM we will provide lunch and a presenter to speak to topics such as taxes, insurance, marketing, enhancing your LinkedIn profile and much more!  Be sure keep an eye on our Events calendar and to Like us on Facebook to receive updates on our upcoming Lunch and Learns.

You don’t have to be a member to come and join us for the series, but we would love to have you join the Cincy CoWorks gang.  Details on how to RSVP are coming soon.

Interested in spending the day and checking out the space?  Just drop us a line and one of us will make an appointment to welcome you in for the day.

Have a wonderful and happy holiday weekend!

Cincy CoWorks Team