The Entrepeneur's Beginning Startup Checklist

Many beginning entrepreneurs find that having a checklist to work from helps organize the tasks that need to be accomplished. Basic checklists like the following are used to help get the ball rolling. Note this is not a comprehensive list and there is some item overlap. The inclusions in the list, and the substantive acts and contents of each document on the list, can change depending on the jurisdiction. Also, while this list is enumerated, the enumeration is for convenience only. Different individuals will reach different starting points depending on the moment of inspiration.

1. Comprehensive Business Plan (how will you make money)
2. IP Protection in place, including some or all of, trademark(s) registrations applied for, proper trademark marking of goods and services, name availability search(es), copyright registration(s) applied for, patent application(s) filed, work for hire and assignment agreements for employees and contractors executed, assignments on record at the appropriate recording agency, patentability search and freedom of operation opinion
3. Nondisclosure agreements ready for investors, evaluators, consultants, and other third-parties to sign
4. Business formation documents in place, usually including incorporation/certificate of formation, articles of incorporation/membership agreement, first organizational meeting and adoption of bylaws, issue certificates of ownership/share certificates and update register shareholders agreement/membership agreement(including clauses for assigning intellectual property, work for hire, nondisclosure, noncompetition, and, among others, buy sell), buy-sale and valuation agreement, technology transfer agreement
5. Employment agreements in place (including clauses for assigning intellectual property, work for hire, nondisclosure, noncompetition)
6. Asset listing (an IP audit)
   

Plan to Succeed

The new IP entrepreneur typically seeks to protect his or her new creation, whether it is an invention, a new name for a product, an original design, an artistic performance, or otherwise. At first glance, the costs of IP acquisition/protection can seem large. A successful IP entrepreneur will first create a business plan that provides a roadmap of how the new busines is going to succeed, factoring in not only the costs, risks, and advantages of IP acquisition/protection, but also costs of prototyping, manufacturing, getting the product to market, marketing the product, administrative costs, and a host of other start up costs (licensing, business formation, etc.) that go into being an entrepreneurial business. The U.S. Small Business Administration has a good site with information on how to write a business plan. The State of Washington's Small Business Development Center also has a good informative page on business plans. Once a solid business plan is created, the entrepreneur can weigh and allocate the costs for doing IP acquisition/protection right away, versus waiting until other milestones are reached. Of course, the IP entrepreneur is wise to take consultation to discover the risks of waiting for IP aquisition/protection, as some risks can be substantial and sometimes the IP acquisition/protection work must be done immediately. Making a good business plan is the best first step in succeeding in the new venture. When you fail to plan, you plan to fail.