| Joining hands with another business on a project has | | | | program without the other's consent. |
| many advantages. It increases your visibility, spurs a | | | | 3. Look into the crystal ball: The game "Show me the |
| creative exchange, and gets you more clients. | | | | Money" has the potential to be hugely successful and |
| However, collaborations often lead to the developing | | | | become its own trademark. A trademark is defined |
| of intellectual property, which has to be properly | | | | as a word, phrase, symbol, design or any combination |
| protected. Many entrepreneurs fail to note (until it's | | | | of them, that separates the work or goods of one |
| too late) that (1) they had intellectual property worth | | | | from another. There is every possibility that there |
| protecting, and (2) they should have acted to | | | | could be several spin-offs as books, workbooks, |
| protect it. | | | | notebooks, e-books, teleclasses, t-shirts, coffee |
| For example, "Vivienne," was a former school | | | | mugs, CDs and any number of other related services |
| psychologist who worked for years with | | | | or products. Any of these can be trademarked (for |
| disadvantaged children. Her friend, Fiona, wrote about | | | | products) or servicemarked (for services) by either |
| financial education and financial management for | | | | Fiona or Vivienne, giving rise to any number of |
| adults. Together, they developed an interactive | | | | complications, notably "who owns it?" The solution: |
| financial literacy workshop and board game for | | | | Avoid an expensive and ugly legal confrontation by |
| children called, "Show Me the Money!" The | | | | agreeing on the trademark ownership, and when and |
| collaboration hit a snag when Vivienne wanted to use | | | | how it can be used. |
| the workshop for her own project with at-risk adults. | | | | 4. Protect the concept from being stolen: Should |
| Fiona then realized that "Show Me the Money!" - if | | | | Fiona and Vivienne go ahead together, they must |
| used with a general adult population - could steal her | | | | protect the "Show Me the Money" trademark and |
| thunder... and profits. So what steps can they take to | | | | design. The solution: Get copyright protection through |
| move forward smoothly? | | | | the US Copyright Office (forms and info available on |
| 1. Keep the discussion open. Ideally, Fiona should have | | | | their website Any designer brought on board ' for |
| understood implications of joining hands with Vivienne | | | | the game, graphics or website ' has to be a "work |
| on the project before freely offering her smart ideas. | | | | for hire" or else, in all design work, the rights belong |
| However, real life is not ideal. The solution: Fiona | | | | to its creator, in this case the designer. Circumvent |
| needs to have a chat with Vivienne to clearly explain | | | | this issue by having a written 'work for hire". The |
| her worries and fears. It is better to have a fair, | | | | manufacturer that Vivienne and Fiona use must keep |
| written agreement on intellectual property at this | | | | the concept of the game confidential. There must |
| stage, than to not have one at all. | | | | also be confirmation on all terms related to price, |
| 2. Identify what's at stake. Even if Fiona and Vivienne | | | | quantity and quality. Confidentiality is key here |
| never have a written agreement, copyright laws | | | | because while Fiona and Vivienne cannot trademark |
| provide them with some measure of protection. A | | | | the broad concept of a board game, they can |
| copyright protects an original artistic or literary work. | | | | protect their version of the game to improve life |
| Because they created the game jointly, they are | | | | skills. |
| known as "joint authors." This means that each has | | | | Thankfully for Fiona and Vivienne, they could resolve |
| the 100% right to use the game without permission. | | | | the issue in a friendly and mutually beneficial manner. |
| But each would have to account to the other for | | | | It doesn't turn out like that for many other business |
| any money that she made. Still, this can get prickly. | | | | owners. Consult with your attorney to make sure |
| The solution: They should set clear parameters on | | | | you have the right protection for any joint intellectual |
| how and where each of them can use the Show Me | | | | property..Failing to do so may mean that your "brain |
| the Money program. They should also decide whether | | | | child" ends up belonging to someone else. |
| either of them can make any changes to the | | | | |