Posts tagged: attorney

In Praise of Creative Entrepreneurs

By , May 14, 2014 2:39 pm

Written by:
David L. Colby, Esq., Managing Director of Colby Law Office, PC

When creative people start a business, interesting things happen. Cool things, Inspired things, game changing things. But sadly, also tragic, bad things. The users of this world prey on creative people far too often.

As an attorney who helps creative entrepreneurs, I will be the first one to say that creative people and business frequently are at odds. It is sometimes complicated for creative entrepreneurs to maintain control of their own companies. Indeed there are special challenges and disconnects that are almost directly proportionate to the level of originality and creativity in the entrepreneur.

I remind my clients of what Andy Warhol said: “being good in business is the most fascinating kind of art.” With that clever mindset, a creative entrepreneur can maintain their creative integrity and still have a head for business. Moreover, you can learn to harness creativity to structure deals, work out complex business relationships, and offer up creative solutions during negotiations.

No doubt creativity really what its all about. After all, what is a business without creativity? Its not difficult to find examples: uninspired copy-cats, knock-off agents, struggling plagiarists, copy-cats, soulless hacks pushing their way into the market with profit as its primary motive; design a secondary concern at best. A noteworthy hallmark of these types is that in the long run, they are limited in their potential. They lack authenticity… an original core… a deep well to keep going back to for inspiration.

The opposite of this is a business founded and controlled by the original creative person or team. The designer, the artist, being at the center is actually the engine, the heart of the beast, to what truly matters in the long run.

But as important as creativity and originality is, we cannot escape the fact that business is business. To level the playing field, it is imperative to have a plan and a relationship with the right kind of lawyer. If you are looking to start or grow a fashion-based business—whether as a designer or in some other related way– it is of the highest importance to organize your business and protect your interests to succeed.

In short, creative entrepreneurs require special care. And they deserve to get it. It isn’t just looking out for their interests, a lot of time it is just actually listening to them, encouraging them, and reminding them that their creativity is the secret ingredient and the most valuable asset they have.

David Colby
David L. Colby, Esq. is the Managing Director of Colby Law Office, PC, a law firm in NYC that represents many up and coming designers and their businesses worldwide. Colby Law Office works particularly with business formation and governance, intellectual property and contracts.

Colby Law Office is doing the second of their free legal clinics at FIT on May 19th from 5:30-7:30pm. Only RSVP’s may attend https://legalsalon-may.eventbrite.com. If no more space is available, David can be reached at dcolby@colbylaw.com to set up a free consultation.

Licensing – Signing the deal is just the beginning

By , October 26, 2013 9:24 am

A licensing agreement is like any other legal agreement.  You can’t just sign on the dotted line and fold up the agreement and put it away for safe keeping. Like a relationship, you must nurture all the parties involved.  It’s a living, breathing and highly dynamic bond.  Sure you’ve agreed to amounts, the frequency of payments, milestones, if any, and all the other details.  But, as in life, things happen.  What happens if one party doesn’t reach the milestone?  Or goes bankrupt? What if there are manufacturing or shipping delays?  What if the product composition or the amount of product isn’t exactly what you agreed upon?  And, probably most commonly, what if the personnel change or the license gets shifted from the original department into some other department’s bailiwick? Yes, the license should cover most of these possibilities but sometimes things come up unexpectedly.

This is why, whether you are the licensor or licensee, it’s really important to develop and maintain your relationship with the other party since both fates might depend on it.

The Licensing Executives Society’s upcoming meeting deals with a lot of these issues.  The focus will be on pharma, since that’s the 800-pound gorilla in the region.  However, if you attend, there will be lots of valuable information to gleam. Here’s the link:

http://us1.campaign-archive1.com/?u=2d4d04d50b85ccc79f5b5b933&id=173b67560e&e=

Here are some other examples of what can happen with copyrights, license rights etc.

http://kateharperblog.blogspot.com/2009/08/how-to-protect-your-assets-in-licensing.html

http://www.cracked.com/article_19683_6-terrifying-user-agreements-youve-probably-accepted.html

http://www.hrfmlaw.com/img/articles/The_IP_License_Agreement_A_View_from_5_000_Feet_article_370958.pdf

My parting suggestion:  Start a relationship with an Intellectual Property attorney who you trust.  It’s always important to have a trusted and knowledgeable partner on your side.

 

Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.

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