Posts Tagged: "entrepreneurs"

An Entrepreneur’s Guide to Navigating California’s Complex Cannabis Industry

As of now, ten states have legalized recreational cannabis. Twenty-one other states allow medicinal use of cannabis, many of which are expected to legalize recreational cannabis in the near future. Investors have sunk an estimated $10 billion into cannabis-related businesses in 2018, an amount that is expected to reach $16 billion this year. The fast spreading legalization of cannabis presents a unique opportunity for entrepreneurs, businesses and investors to get in on the “ground floor” of this growing market. California, as the largest single market for legalized Cannabis in North America, has attracted outsized attention from potential investors, who also see the state’s legalization as a trend setter for other states. However, would be investors in the California cannabis market often find themselves in a maze of complicated and changing licensing rules and regulations, banking challenges and uncertainties, choice of the appropriate business structure, and protection of potential intellectual property (IP).

Celebrating Innovation: IP Laws Encourage Innovation and Entrepreneurship

Without intellectual property protections it makes it impossible for an innovator to compete, raise money, and succeed in business. That was a story told by Joe Kiani, Founder, Chairman and CEO of Masimo, who receive the IPO Education Foundation’s first IP Champion Award. “While the IP laws are still better than any other country, they aren’t as good as they used to be,” Kiani said on the video introducing himself before receiving the IP Champion Award. Kiani would explain that he doesn’t think of what IP laws mean to Massimo today, but what they would mean for Massimo back in 1980. IP laws encourage innovation and entrepreneurship, he explained.

Happy Birthday Patent System: Hope Springs Eternal

In 1790, the U.S. patent laws were first enacted and individuals could obtain a patent under the new federal government. For about a century beforehand, British citizens in the various parts of the American colonies could obtain patents for that region, and Britain and other European countries had patent laws as well. But the new American patent system was different: it was democratized in that anyone could participate, without the need for consent from the Crown. The origins of patent laws date back to the Fifteenth Century when Florentine regents sought to attract and keep innovators and their inventions. Elizabeth I was a keen ruler in passing various patent laws to encourage foreigners with ideas and inventions to relocate to Britain, as well as encourage domestic innovation.

Declines in U.S. innovation, entrepreneurship the focus at Capitol Hill patent policy event

At the same time that America’s business climate has become too acidic for a vast majority of domestic startups, the nation has also been losing its place in the global supply chain while other major global economies, like China’s, are becoming increasingly self-reliant… This report identifies trending emerging tech like virtual reality, augmented reality, machine learning, smart robots, gesture control devices, smart data discovery and virtual personal assistants, as well as consumer expectation levels and the length of time until the emerging tech becomes fully commercializable. As Aronoff noted, much of the innovation in those sectors relies on software. “Is that even protectable anymore?” Aronoff asked… With the new patent enforcement gauntlet in the U.S., what does it really take for a small company to protect its IP in the current system?

The Five Biggest Mistakes Toy Companies Make

While engaging in a manner most likely to lead to success is critical for any company, it is even more important for toy entrepreneurs for a variety of reasons. Unfortunately, all too frequently costly mistakes are made. Here are five mistakes that I see toy companies make far too often… One of the ultimate ironies is that many toy companies spend most of the time coming up with the perfect name for their company but then don’t take the necessary steps to secure that name. Usually, companies either fail to run a trademark search or wait too long to file the trademark. The best time to discover a trademark issue for your name of choice is at the outset because any conflict can easily be resolved by picking a new name; and trust me while that may not seem desirable in the long run it will save you a lot of time and money.