Important Legal Stuff

A business plan is a business owner’s privileged and confidential original work.  Reverencing the intimacy of a business plan, I’d like to share some specific legal knowledge and how it generally applies to a business plan. 

In his podcast, An Overview of Intellectual Property Law, (2010) Stanley Sokoloff of Blakely, Sokoloff, Taylor, and Zafman, explains the importance of trademarks, copyrights, and patents.  He explains that trademarks are usually slogans, commercial origins and identifications.  These are words, symbols or slogans.  Sokoloff explains that copyrights are tools of artistic expression (books, painting, music, software, etc.).  Lastly, he explains the use of patents; both functional and design.  Both keep others from selling an original invention.  Sokoloff gives a fantastic example of the three intellectual properties side-by-side.  His example was explained through a television.  The TV’s trademark protection would apply to the TV’s brand.  The TV’s copyright would be associated with the shows or content of the shows that are aired on the TV.  The design patents would protect the physical invention and make-up of the TV.  Each intellectual property registration is essential to the make-up of a business plan as they individually protect the inventions, creativity, and distribution of the final product.    

Fair use.  The simplest term for permission being granted by the original creator to a user of the original work.  Simple, yes.  But often forgotten.  In Episode 32 of the Entertainment Law Update Podcast by Gordon Firemark (2012), Firemark discusses FunnyJunk vs. The Oatmeal.  Matthew Inman, creator of The Oatmeal (a website full of comics), filed suit against FunnyJunk (A public website where users upload funny madness) for infringement.  Inman says FunnyJunk didn’t have permission to use The Oatmeal’s comics.  Inman was right.  This case raised questions about fair use and was unique in showing how a heap of drawn-out-drama can be avoided simply by seeking permission to use copy-written work.    To protect intellectual property or gain any future restitution on potential infringement, it is recommended that original works be registered at the United States Copyright Office as part of a business plan.

A business plan absolutely must contain some degree of protection of original works and business creatives in a business plan.  There are different types of legal protection, though.  In Deciding Between Patent and Trade Secrets Protection (2009), Professor Andres Beckerman-Rodau explains that there are only certain subject matters that are eligible for patent protection.  Examples of these eligibilities are things like (1) a process or way of doing something, (2) machines, (3) a manufacture or modification of something (through human intervention), or (4) a composition of matter.  When building a business plan, it is important to identify which subject matter category your patent work falls under.  Early identification will make building a business model and writing a business plan clear and more concise.