In Honor of National Entrepreneur Day…

Posted in Entrepreneurship

Nov. 21 is National Entrepreneur Day! In honor of this day that celebrates and promotes entrepreneurship and innovation, here are some recent Insights from our inventive team:

3 Patents Prepared and Prosecuted by Greenberg Traurig Receive 2017 BPLA Invented Here! Honor

Posted in Intellectual Property, Patent

Each year, the Boston Patent Law Association (BPLA) Invented Here! award celebrates local and regional New England innovation communities by honoring select innovators, their inventions, and the stories behind them. Greenberg Traurig’s Boston Intellectual Property (IP) Group is proud to have four of its clients – GRIT, LuxCath LLC, The George Washington University, and IlluminOss Medical, Inc. – recognized in 2017 for their patented innovations. These clients were honored for three patents prepared and prosecuted by Greenberg Traurig. They are among only 12 patents honored that were selected from over 50 nominations.

The Greenberg Traurig clients were selected for the following patents:

  • Wheelchair with Lever Drivetrain” (US Patent No. 8,844,959), assigned to Global Research Innovation and Technology (GRIT); represented by Chinh H. Pham. GRIT’s Freedom Chair is an all-terrain wheelchair designed by a world-class team of MIT engineers. Part mountain bike, part wheelchair, the Freedom Chair opens up a new world of exploration for those with disabilities. The Freedom Chair maintains the primary design, converting arm power into motion by a simple lever-based, geared drivetrain. As on a bicycle, the gearing eases the strain on the muscles, allowing the rider to power through rougher terrain and up steeper hills.
  • “Systems and Methods for Visualizing Ablated Tissue” (US Patent No. 9,084,611), assigned to LuxCath LLC and The George Washington University; represented by David J. Dykeman and Roman Fayerberg. LuxCath is a medical device company that is developing catheter-based real-time tissue contact assessment, lesion visualization, and lesion gap detection technology that has many uses including oncology. This medical innovation is based on collaborative research and development with researchers and faculty at the George Washington University.       LuxCath has an exclusive license from George Washington University.
  • Apparatus for Delivery of Reinforcing Materials to Bone” (US Patent No. 9,265,549), assigned to IlluminOss Medical, Inc.; represented by Dykeman and Fayerberg. IlluminOss Medical has developed a platform, disruptive technology for the orthopedic trauma market. The technology centers around image guided, minimally invasive conforming orthopedic implants that leverage its proprietary bone stabilization technology, the “IlluminOss System”. Through the unique and proprietary combination of balloons, light activated monomers and flexible catheters, IlluminOss has created the world’s first patient conforming intramedullary implant.

Honorees were recognized as representatives of the innovation community at an awards reception, Monday, Oct. 23, 2017, at The Exchange Conference Center in the Seaport (Innovation) District. In addition, IlluminOss Medical and LuxCath were named two of the three Invented Here! 2017 Top Honorees. Both IlluminOss founder Robert Rabiner and LuxCath founder Omar Amirana, MD, were interviewed during the reception.

Congrats to all!

From L-R – Chinh Pham (GT), Robert Hover (GT), Ben Judge (GRIT), Omar Amirana (The George Washington University and LuxCath LLC), Robert Rabiner (IlluminOss Medical, Inc.), Jaime Burke (GT), Roman Fayerberg (GT), and David Dykeman (GT)

Patent Strategy Is Critical for Robotics Innovations

Posted in Patent Strategy

David J. Dykeman, co-chair of Greenberg Traurig’s Life Sciences & Medical Technology Group, and Todd Basile, associate at Greenberg Traurig, authored an article that was featured in Robotics Tomorrow entitled, “Patent Strategy is Critical for Robotics Innovations.” The article examines why patents are important for all robotics companies, both early stage or long-established, and how protecting robotic innovations and developing a robust patent strategy are critical for success.

To read the full article, please click here.

Regulators Weigh in on Digital Assets, Tokens, Securities, and Derivative Instruments Used in ICOs

Posted in Blockchain Technology Task Force, GT Alert, Start-up, Technology

The rise of blockchain technology ventures raising money preternaturally through initial coin offerings and token generation events (collectively, ICOs) is a capital formation disruptor, one which has and will continue to spawn considerable futures, fortunes, failures — and frauds. Blockchain-based ICOs have, through 121 offerings closed during January-August 2017, raised over $1.78 billion, with an expected amount at year-end 2017 of over $3 billion according to publicly-available estimates. While IPOs raised about $12 billion (and startups $22 billion) thus far in 2017, the amount raised through ICOs is impressive for a new asset class. By some sources ICOs have exceeded angel, venture capital, and seed funding reported during some months of 2017. The shrouded world of blockchain technology and range of offerings masks identities and sourcing of investors in ICOs. It is speculated that funds have been primarily sourced from early investors profiting in cryptocurrency technologies.

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Being Deal Ready—Preparing Your Tech Startup for Merger, Acquisition or Investment

Posted in Events, Start-up

Shareholder Michelle Hallsten will be participating in an upcoming workshop on Oct. 18 at the University of the Pacific Sacramento Campus to help companies get ready to merge, acquire, or invest in another company. It’s never too early to get your house in order to optimize future deal value and outcomes for your tech startup. Attendees will gain insight from experienced professionals in corporate M&A and finance in this interactive discussion.

Topics covered include:

  • Current state of M&A and private equity markets
  • Deal process and timing
  • Understanding valuation drivers
  • Avoiding deal breakers and value killers
  • Preparing for the transaction process

Date and Time

Wed., Oct. 18, 2017
5:30 PM – 8:30 PM PDT

Location
University of the Pacific Sacramento Campus
3200 5th Avenue
Classroom C
Sacramento, CA

To register, click here.

New German Federal Data Protection Act Officially Published

Posted in Cybersecurity, Data Protection

On 5 July 2017, the new German Data Protection Act (BDSG-new) was officially published in the Federal Gazette. BDSG-new will fully replace the current German Federal Data Protection Act (BDSG) and is intended to adjust the German legal framework to the new European General Data Protection Regulation (GDPR). Both BDSG-new and the GDPR will become effective 25 May 2018.

Some of the most important provisions of BDSG-new relate to sensitive data, employee data protection, the obligation to appoint a data processing officer and the use of scoring data.

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Effective Date of Final Rule on Parole for Startup Entrepreneurs Delayed to March 14, 2018

Posted in Start-up

On July 11, 2017 the Department of Homeland Security (DHS) announced that it is temporarily delaying the effective date of the International Entrepreneur Final Rule (the IE Final Rule). The effective date is delayed from July 17, 2017, to March 14, 2018, except for a minor provision which adds the Form FS-240, Consular Report of Birth Abroad, to the list of acceptable documents for Form I-9 verification, which went into effect on July 17, 2017. Written comments must be received on or before August 10, 2017.

This delay will provide DHS an opportunity to obtain comments from the public regarding a proposal to rescind the rule pursuant to Executive Order (E.O.) 13767, “Border Security and Immigration Enforcement Improvements.” The public may submit comments through Federal eRulemaking Portal: http://www.regulations.gov/ or mail to USCIS directly.

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James DeCarlo to Present on Patent Eligibility Determination in a Post-Alice World

Posted in Events

On Thursday, June 29, Greenberg Traurig’s James DeCarlo will present “Patent Eligibility Determination in a Post-Alice World: Significant Updates & Developments” on a webinar hosted by The Knowledge Group.  The panel will discuss the important issues with respect to Patent Eligibility Determination in a Post-Alice landscape. Speakers will also present and analyze the recent trends and developments surrounding this significant topic, and provide practitioners practical advice in traversing Alice challenges, in both prosecution and litigation. Click here for more information and to register for this webinar.

Jim is a shareholder in the firm’s Intellectual Property & Technology Practice and Emerging Technology Group and has over 25 years of experience litigating, licensing, and procuring patents in the software, hardware, internet, and networking space, among many others. His clients in the United States and abroad range from start-ups with one or two key patents to giants with thousands of patents worldwide.

How Startups Can Avoid Costly IP Mistakes

Posted in Intellectual Property, Patent, Trade Secrets

Most startup entrepreneurs spend a significant amount of time creating business plans, product development plans, marketing plans, etc. However, startups often neglect one of the most important aspects of planning — developing a plan for the company’s intellectual property (IP) to minimize risks to the company’s intangible assets. This oversight can be a critical mistake that can doom the startup. To help avoid IP headaches down the road, here are some IP tips that every startup company should consider.

Don’t Confuse Which IP Is Necessary for Your Intangible Assets
Not all IP is the same. Different IP options offer different protections, so it is important to understand the distinctions. Generally, these are some key areas of IP to consider:

  • Patent protects the idea.
  • Copyright protects the expression of the idea and requires the memorialization of the idea on a tangible medium.
  • Trademark protects the logo or the name and acts as an identifier of the source of the product or services associated with the logo or name.
  • Trade Secret protects anything that is confidential or proprietary.

Incorrectly pursuing the wrong IP protection can be costly and can place your company at risk. More often than not, entrepreneurs are faced with having to decide whether a patent strategy should be implemented or if trade secret is sufficient.  The answer is – it depends.  Each offers different types of protection with distinct benefits and risks, so you will need to decide which path is right to meet your business goals. It is always best to seek the advice of an IP attorney in this respect.

Avoid Public Disclosure of IP
Inventors may inadvertently jeopardize their ability to successfully apply for or be granted a patent by disclosing information about the invention to the public. Three typical situations to make efforts to avoid are:

Research and Development (R&D) in the Open
With the proliferation of co-working spaces, many companies are conducting R&D in the open and making their prototype available for all to see.  This practice can be considered a public disclosure and will likely foreclose patent protection in most of the world.  The United States affords a grace period of one year to file for patent protection, but consider avoiding doing research in the open.

Publishing or Presenting your Innovation Too Early
Companies sometimes publish or present their research early to showcase their innovation, which is often the core technology around which the company is being built.  In other instances, to fundraise, companies may meet with investors who often refuse to sign a non-disclosure agreement (NDA).  In either instance, the one-year clock for protecting IP will have started ticking, while protection in most of the world will likely have been foreclosed. With this in mind, it is important for companies to file the innovation with the United States Patent and Trademark Office (USPTO) before doing any presentations.

Discussing Innovations You Plan to Pursue
Even after a patent application is filed, any presentation or discussion should be limited to the subject matter that is in the filed patent application.  Also, during an interactive presentation or discussion, be aware of unintended brainstorming sessions between yourself and the other party.  This type of discussion may result in an invented concept not previously in the patent application being discussed with or suggested by the other party.  In such a situation, the inventive concept is now publicly disclosed, and the other party is now a co-inventor in the new inventive concept.

Remember to Secure IP Ownership Up Front
To help ensure the company has complete ownership of all IP assets, as soon as the company is incorporated or formed, all relevant IP should be assigned to the company.

Assignment Agreement
Many companies don’t consider IP early on and do not have proper assignment agreements in place.  If a founder leaves the company, and there is no assignment agreement, that founder owns the IP outright and can take it to a competitor or start a competing company.  What can help avoid this situation is making sure that all innovations are assigned to the company as soon as the company is formed.

Employment Agreement
Similarly, companies should consider putting an assignment clause in the employment agreement stating that the company owns the IP generated during the course of employment. The assignment clause should include the magic phrase, “I hereby assign.” By having an employment agreement with such an assignment clause, should the employee leave before an assignment agreement is executed for an invention, the company can rely on the employment agreement to show proof of IP ownership.

Confidentiality Protocol
If trade secret is an IP strategy or if there is a robust culture of exchanging ideas in a company, having a confidentiality protocol in place can protect the company from inadvertent public disclosure. At a minimum, every startup company should consider including the following provisions:

  1. Making sure appropriate content is marked as confidential and educating employees on the risks of publicly disclosing the information;
  2. Having written agreements with employees and outside contractors that require them to maintain business confidences.
  3. Implementing policies that place limits on the extent to which employees may transfer sensitive material to personal devices (e.g., rules against sending material to a personal email address).

Steer Clear of Using Content and Resources from Previous Employer
As an entrepreneur, “borrowing” trade secrets, know-how, customer lists, etc., from a previous employer is strictly prohibited.  In most cases, you likely signed an employment agreement with your previous employer that prohibits you from using such information to compete. If there was a non-solicitation provision in the employee agreement, you also cannot hire any talent from the previous employer to your new company. Violating either of these provisions can place your company in jeopardy even before it starts.

Make Sure Domain Name and Trademark are Available
In an effort to avoid wasting time, effort, and marketing dollars in branding your product and/or venture, you can make sure that the domain name you want is available first before deciding on a trademark for your product or venture.  Without that domain name, having a trademark that your customers cannot easily associate with your product or venture can be a detriment to your business.

Likewise, performing a clearance study to ensure that your trademark is available before spending resources on a branding campaign can be helpful.  It would be unfortunate if you were to find out late in the process that a competitor has a same trademark for a similar product.  The costs associated with undoing and redoing a branding campaign can be significant.

Greenberg Traurig’s Emerging Technology Group to Present at the 2017 Angel Capital Association Summit

Posted in Events, Intellectual Property, Nanotechnology, Technology

Greenberg Traurig’s Emerging Technology Practice will present on four separate sessions at this year’s Angel Capital Association (ACA) Summit in San Francisco (April 26-28 at the San Francisco Marriott Marquis Hotel). The sessions include:

  • After the Check: Tactics to Boost Your Returns (April 27, 9:45-10:30 a.m.)
    James J. DeCarlo, a shareholder in the Intellectual Property Practice in New York and New Jersey, will present on a session covering specific tactics that angels, who are not sitting around board tables, can employ during the holding periods after investing.
  • Workshop for Showcase Companies – The Ins and Outs of Term Sheets (April 27, 9:45-10:30 a.m.)
    Emily Ladd-Kravitz, an associate in the Corporate & Securities Practice and Emerging Technology Industry Group in Boston specializing in mergers & acquisitions, and Beth Cohen, director of Global Emerging Growth Services in the Emerging Technology Industry Group in Philadelphia, will be presenting on term sheets, which is one of the most important documents to an entrepreneur. They will provide answers to the following questions: Which terms are most important? How do they affect you? What are the best ways to negotiate for good results
  • Workshop for Showcase Companies: Intellectual Property and Patents (April 27, 11-11:45 a.m.)
    DeCarlo and Chinh H. Pham, co-leader of the firm’s Emerging Technology Practice and Chair of the firm’s Nanotechnology Practice in Boston, will hold a workshop regarding what startup enterprises need to know about developing, protecting and monetizing their IP assets.
  • The Next Big Thing in Tech – VR, IoT, Deep Learning… (April 27, 2:15-3 p.m.)
    Pham will also present on a session addressing the hottest technology trends in the last two years, including virtual reality/augmented reality (VR/AR), IoT and Artificial Intelligence. The panel will explore future trends and investment opportunities in each category.
  • Structuring Deals (April 28, 11:15 a.m.-12 p.m.)
    Kravitz will participate in a session that analyzes the structuring of deals.

For more details, please click here.

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