Issue link: https://htpgraphics.uberflip.com/i/246982
Emily's Spin-out Company SOLUTIONS Emily's Spin-out Company Key points for a Business Plan Executive Summary – a clear persuasive summary of the plan which tempts an investor to read on. Background – a brief review of the work undertaken to date, particularly the research and IP created. Products/Services – what the company will offer for sale including the current market and a comparison with competitor products/services. Market – the market sector that the company will operate in, including size and competitive advantage. Management – the skills and experience of the key people in the business and any additional management required and how they will be recruited. Risk Analysis – best and worst case scenarios – key milestones – when further funding will be needed. Financial Information – financial projections (profit and loss account, balance sheet and cash flow projections), where the money will be spent and likely timescales for returns on investment. Where will ownership of the IP lie and how will it be dealt with? n Existing IP – the company is a separate legal entity and so it needs to buy the IP or to have a licence to use it. Lakeland will need to investigate the IP to see if any of it belongs to someone else. If it does Lakeland will need to get an assignment of it first. n Future IP – the company will own any IP which it develops in the future. It will need to have proper contracts in place with its employees and consultants to protect its IP, including confidentiality provisions. The company will need processes to identify its new IP and register it where relevant. There will need to be a confidentiality agreement for future work and discussions between Lakeland and the company. If Lakeland creates new IP the company may have to do future deals with Lakeland if it wants to acquire that IP. 69