Intellectual property (IP) law is strongly associated with business law. This is because IP monetization often occurs via business entities established to monetize the IP which is to be owned by or licensed by the business. Even where the IP owner is an individual, the IP owner’s monetization partner will likely be a business. Either way, IP rights seekers and IP rights owners will more than likely encounter matters involving business law as they seek to monetize their IP and grow the business into an entity with staying power.
Susan Dierenfeldt-Troy’s business law-related legal services are specifically tailored to meet her entrepreneurial clients’ needs and objectives and include the following:
-
Business Entity Setup
Many entrepreneurs choose to establish a business entity as the vehicle through which their service(s) or product(s) are to be offered. Susan guides her clients through the steps of selecting and creating a new business entity whether a limited liability company or a corporation. She also drafts detailed operating agreements for limited liability companies and shareholders agreements for corporations.
-
Contract Drafting and Review
Contracts are an inevitable part of any business operation. Susan drafts and reviews contracts related to all matters involving IP monetization and commercialization from the assignment and licensing of IP rights to the business to agreements between the business and the supplier of an essential component of the business’s manufactured product. Other types of contracts drafted by and reviewed by Susan include joint development agreements and independent contractor agreements (e.g., between the business client and a software developer as an independent contractor, non-disclosure agreements (NDAs), and memoranda of understanding. Susan is dedicated to ensuring that all business-related documents she drafts or reviews on clients’ behalf are clear, unambiguous, and legally sound.
-
Minimizing Business Exposure
Business law includes ensuring that the business is in compliance with all of the various federal, state, and local regulations it may be subject to. Susan has a broad network of trusted advisors she is able to recommend to her clients should: 1) she conclude they should seek legal counsel for a specific issue she does not handle; or 2) the client asks her for a recommendation. For example, entrepreneurs may need to consider SEC regulations while seeking investment monies. In this case, the client may need to consult with an SEC attorney to ensure they will be in compliance with SEC regulations governing the seeking of investment monies. By way of another example, where the client is selling a cosmetic, the client may need to consult with an FDA attorney about the product’s labelling requirements.
-
Representing the Buyers or Sellers of a Business
Susan’s business law services also include assisting the sellers or the buyers of a business to ensure a smooth process from the Letter of Intent to Closing. Where IP rights are being sold, she will ensure that the seller is indeed the owner of the IP being sold and that the buyer has accurate information on the remaining lifetime of any IP rights being sold. She will either draft the required documents for consummation of the sale or review documents presented to the client by the other party’s attorney; and ensure that any and all IP and any other property (e.g., the seller’s company vehicles or real estate) which are part of the sale are legally transferred to the buyer. This will include ensuring that the seller’s domain name rights are properly transferred to the buyer if the domain name transfer is part of the sale. She will also appear at the closing to help ensure a smooth process on behalf of the client.
-
Fractional General Counsel Services
Susan is available on a case-by-case basis to serve as a part-time general counsel for entrepreneurs and startups.
