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Steven Reubenstone
Mechanical Engineer & Collaborizm Mentor. Join our iOT Hackathon!
 · New YorkU.S.
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5 Team members and Project leader are in a project. The project is about to develop IP. The project is also coming to close to incorporating as a company. How do we fairly protect users regarding IP and Equity ownership, all in a few clicks?

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Solyn Lee

Amazing conceptual legal help offered by Solyn.

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added by:   Steven Reubenstone
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Solyn Lee
Attorney
 · New YorkU.S.
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OK. There are a lot of things to unpack here. But as for the IP, the important thing to note is that if you are going to incorporate soon, it’s a good practice to have all IP assigned to the company through IP assignment agreements, and therefore, the company will own all IP, not individual members. And then, depending on each member’s expertise, time investment, contributions to IP and other various factors, members should divide up the equity accordingly. Also, when you said IP, this is a very broad term as it includes patents, copyrights, trademarks, and trade secrets, and some require appropriate filings to get protections, i.e., patents. That said, I don’t know if you can have everything sorted out in a few clicks. Hope this helps.

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Steven Reubenstone
Mechanical Engineer & Collaborizm Mentor. Join our iOT Hackathon!
 · New YorkU.S.
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Yea it makes sense. You need a way to delegate all IP to the ownership of some entity. Then delegate equity amongst those core teammates.

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