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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.
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
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.
IP is just for tech startups or tech companies, and patents are the
only IP for inventors.
IP Mis-steps
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
● Track ACTUAL Financial KPIs against:○ Planned Results○ Previous Period○ Same Period Last Year
● Analyze VARIANCE○ adjust, learn, grow
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
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
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:
LIVEPLAN EXPERT ADVISOR CERTIFICATION
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!
LIVEPLAN EXPERT ADVISOR 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
www.traklight.com
Free Business Risk Assessment
@traklight
Slides available on slideshare.net/Traklight
@maryjuetten