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Click here to listen to the audio. In this episode of the EXCLUSIVE RIGHTS: Intellectual Property podcast, Daniel Weinger, Frank Gerratana, and Greg Penoyer discuss how young technology companies can set themselves up for IP success. Whether the organization’s goal is eventual divestment, an IPO, or undetermined, having a solid IP foundation will set a young company on the right track. Addressing these issues now will save time and money down the road.
Starting a high-tech company is a difficult, exhausting, and thrilling endeavor – one in which founders will face seemingly endless challenges, deadlines, and make or break decisions. From a venture’s inception, founders face numerous decisions that if not thoughtfully considered can result in significant legal and financial risk. This risk must not extend to a tech company’s intellectual property, which is often the company’s crown jewels.
Used properly, Open Source Software (OSS) is an excellent tool. It saves your business time and money, enables interoperability of product platforms, and developers love it. But used improperly, it can be financially and operationally devastating. For example, the statutory damages for failure to properly adhere to the OSS copyright notice can be up to $150,000 per act of infringement.
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