Andrea Calvaruso leading the IP panel
While most of Manhattan was holed up at home Monday evening (April 20th), hiding from the rain, 50 or so brave, entrepreneurially-minded souls risked the elements (and their shoes!) and made the trek to the Roger Smith Hotel.
There, they joined Girls in Tech NYC and NextWeb for a joint panels and cocktails event to help kick off NYC Entrepreneur Week (aka NYCENT). After allowing for some networking time, Oz Sultan (NextWeb) got the panel discussions started, moderating a panel on general Entrepreneurship topics. The panel consisted of Calvin Chu (Columbia University), Rachel Sklar (Charitini.com), Lindsey Pollak (author and speaker) and Ameeda Chowdhury (Snazl.com).
Highlights of the panel–which spanned everything from personal motivations, to user trends, to presenting oneself to potential investors–included:
- There is no single way to take the leap. Some jump in with both feet, others gradually edge away from their ‘day jobs.’
- Not having a plan B can be crazy and scary, but also a powerful motivator to succeed.
- If you sincerely want to follow your passion, do it now.
- Sites and tools are no longer the hubs; users are.
- Nobody wants to read long business plans, and they won’t believe your numbers any more than you do.
- Network, network, network…and make sure the giving flows both ways.
After a brief networking break, the Intellectual Property panel began. Moderated by Andrea Calvaruso (Donovan Calvaruso & Yee LLP), the panel included Jonathan Vanasco (FindMeOn.com and ArtWeLove.com), Jonathan Lutzky (MasurLaw), Brenda Pomerance (Law Office of Brenda Pomerance, Esq.), and Peter Fields (Roberts Ritholz Levy Sanders Chidekel & Fields LLP).
Discussion included IP fundamentals, personal experiences, case examples, and critical best practices. The panel also offered insight into the differing perspectives of entrepreneurs and attorneys when confronting IP issues and associated costs. Among the highlights:
- Patents are very expensive to enforce. If you aren’t making $50 million a year, you probably aren’t worth suing. When you cross that threshold, however, the game changes.
- How will your idea be used in 10 years? What are the possible applications of it? Think about this before you file.
- Balance cost with safety…there is some legwork you can do on your own, but get proper legal counsel before making final IP decisions or attempting to file applications and registrations yourself.
- Know your rights and obligations from the start.
- Never sign a contract under your own name. Form an entity.
- If you can’t afford an attorney to formalize a new partnership, at least write and sign a letter of intent.
- You always want a non-disclosure agreement, and will rarely get one. Know who you are talking to and how they are known to handle the ideas and knowledge brought to them.
- Be good to your attorneys. They will be good to you.
Audience questions and discussion were enthusiastic, and ran right up to the end!
Girls in Tech NYC thanks everyone who ventured out to join us, Oz and Brett Petersel of NextWeb, Gary Whitehall and Richie Hecker of NYCENT, the Roger Smith Hotel, and most of all, our panelists who made this an engaging and thought-provoking event!
