Companies across many different industries are starting to look toward blockchain technology as a way to conduct business more effectively, efficiently, and securely. As a result, there are new blockchain technology startups and strategic partnerships being established at break-neck speed. And, like any burgeoning industry, there seem to be new innovations introduced almost every day.
November was National Entrepreneurship Month in celebration of the country’s innovation and entrepreneurial spirit. As we close this important awareness month, we reflected on what it takes to be a successful tech venture, and we note some of the top traits and criteria in this blog post.
On Nov. 9, Nataliya Rymer (Of Counsel, Philadelphia) presented an immigration workshop at The Garage at Northwestern University. The workshop focused on immigration law issues including non-immigrant and immigrant visa options and DACA, and discussed challenges and opportunities for international students, faculty, and staff looking to start or run a business in the United States.
Starting in 2015, GT’s Emerging Technology Group has worked with Northwestern University’s The Garage to serve as advisors and mentors for its educational space. The Garage is Northwestern’s hub for student entrepreneurship and innovation, bringing together a cross-disciplinary community of students, faculty, staff, and alumni who share a passion for building new ideas.
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:
- The Shareability Factor: Are Patent Pools Useful for Blockchain Innovation?
- Patent Strategy Is Critical for Robotics Innovations
- Regulators Weigh in on Digital Assets, Tokens, Securities, and Derivative Instruments Used in ICOs
- Ten Privacy and Data Security Mistakes that Start-ups Should Avoid
- Key Legal Agreements for Technology Startups
- ‘Alice’ in 2017: Does the PTO’s Latest Guidance Clear the Minefield?
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!
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.
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.
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
University of the Pacific Sacramento Campus
3200 5th Avenue
To register, click here.
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.
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.