In general, the person who creates an invention owns it, and the mere fact that someone is employed at the time they create an invention doesn’t have an impact. With that said, if the employer hired the employee to design a specific invention or solve a specific problem, the employee has a duty to assign…
Founder disputes are one of the most common risks to a young company, but it doesn’t have to be that way. Whether it is a disagreement over a core issue or the waning interest some experience along the startup road, most companies face turnover in their early days, with key players rotating in and out….
Let’s say I was the first to invent the Venn diagram. Can I obtain a copyright or a patent to prevent anyone from using or displaying it?
In general, there is no statute of limitations on a claim for patent infringement. However, the Patent Act specifies a time limit on monetary relief for patent infringement claims – damages are available only for infringement that occurs within the six years prior to the filing of the complaint. In general, a voluntary dismissal (unless…
I usually get asked the question: If I rush to convert my provisional to a non-provisional patent filing, does that reduce the risk of someone having a third party receiving a patent on the same subject matter? Typically, there is NO rush in filing the non-provisional utility patent application once you’ve already secured a provisional…
A provisional patent application filing receipt indicates that the USPTO has granted you a patent priority date. The patent priority date is the same day as your patent filing date in the case of a provisional patent application filing. From this date forward, you have 12 months to file a non-provisional patent application claiming priority…
Both C-Corporations and S-Corporations are, at their core, corporations that are formed at the state level. The formation process, structure, and governance are usually identical for both. The two big differences are: Tax law is what sets the differences between C-Corporations and S-Corporations. In fact, the name of each comes from Subchapter ‘C’ and Subchapter…
An S-Corporation can provide significant Federal income tax savings over a C-Corporation. A common question that arises is, “If the benefits are so obvious, why aren’t all corporations S-Corps?” Due to the benefits, the IRS places restrictions on S-Corporation ownership, including the types of shares that the corporation can issue and the types of shareholders…
Understanding Corporate Structures: A Guide to C-Corporations and S-Corporations Tax Implications Tax law sets the difference between the C-Corporation and an S-Corporation. When a corporation is formed at the state level, the C-Corporation is the default. The C-Corporation can then, voluntarily, file an election form with the IRS (Form 2553) to become an S-Corporation. Once…
The Corporation is rigid in how it is structured and run. This is due to laws, rules, and general practices that have existed and worked well for years. The great thing about a corporate structure is that it scales very well. From the smallest of companies to the largest enterprises – there is a common…
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