New ventures often invest tens of millions of dollars in technology, patents, real estate and facilities, and in hiring the right talent for the business. Every decision at this point in time has its risks, and any company wants to avoid making mistakes that may prevent the business from even starting up.
One particular Connecticut entrepreneur is currently looking for investors to “exploit our patents.” This individual’s business has been involved in a number of varied technological innovations including sensors used to protect the security of one’s property, and a ship coating that would help reduce the drag of barnacles upon boat bottoms and decrease fuel costs by as much as 10 to 20 percent.
Ideas such as the ones mentioned above can be invaluable for a business if marketed correctly, manufactured efficiently, and provided intellectual property protection that would prevent competitors from selling the same technology to customers. There are so many different business and legal considerations to taken into account with these sorts of technological innovations that it’s generally necessary to seek the advice of an experienced business and commercial law attorney.
The area of business law has changed in recent years with the advent of the internet and various social media websites and tools. Information can be placed in front of consumers with a click of the mouse, and therefore entrepreneurs have a whole new host of opportunities and concerns to consider. Software needs to be licensed, agreements created to prevent breaches of protected information, etc.
As the entrepreneur in the above venture has mentioned, “I want to get something going. But it can’t go with just me.”
Source: The Day, “Entrepreneur breaking new ground,” by Lee Howard, Dec. 23, 2012
- Our Hartford’s law firm has a website with further information regarding various practices areas regarding business and commercial litigation.