Issue link: https://htpgraphics.uberflip.com/i/246991
IP WHY CREATE A SPIN-OUT? Spin-out Companies Checklist n No existing business in field or platform Fundamentals opportunities n Bring together key assets and resources – IP, Management, Money and You n Create Business Plan including risk analysis n Possibly an initial shareholder or chair of scientific Your Role board or similar n Possibly a director – but beware of the responsibilities n Beware of demands on your time from the spin-out and your employer n Seek guidance from a mentor n Be ready to adapt to a changing role n Protect the company name through trade marks Intellectual Property and domain names n Record all IP which the spin-out needs and record who developed it n Transfer/license required IP to the spin-out n Check IP provisions in spin-out staff contracts n Check ongoing arrangements between the institution and the spin-out n Identify a person to act as IP Manager n Set up a procedure to identify/protect new IP Shareholders n n Shareholders = Owners Owner control is mainly by resolutions n Decide on preferential rights to identify types of shares needed n Take advice if asked for personal guarantees n Take care not to be a "shadow" director Shareholders Agreement n Regulates STRUCTURE shareholders' arrangements which acts need consent of all shareholders n Check obligations to provide information n Consider limiting liability on warranties n Check