A few weeks ago, the FTC released a report on the Internet of Things (IoT). IoT refers to “things” such as devices or sensors – other than computers, smartphones, or tablets – that connect, communicate or transmit information with or between each other through the Internet. This year, there are estimated to be over 25 billion connected devices, and by 2020, 50 billion. With the ubiquity of IoT devices raising various concerns, the FTC has provided several recommendations.
Innovations in health care technology have created unique challenges for developers and investment companies. Among others, changing FDA guidelines, data security, and reimbursement are all substantial issues facing the rapidly evolving mobile health (mHealth) industry. At the 2014 FOLEYTech Summit, Foley special counsel Monica Chmielewski assembled a panel of industry leaders – Mary Modahl, Chief Marketing Officer of American Weil Corporation; John Morey, Chief Executive Officer and Founder of MyRozi; and Ron Remy, the Chief Executive Officer of Mobile Heartbeat – to discuss the regulatory challenges in this growing mHealth frontier.
With the global economic cost of cybercrime totaling more than $400 billion per year and breaches affecting companies ranging from retailers (e.g. Target, Walmart and Staples) and restaurants (Dairy Queen and Jimmy John’s) to tech companies (Snapchat), banks (JPMorgan), electronics and entertainment enterprises (Sony Corporation) and even NASA, companies of all sizes across all industries should be thinking about how to better safeguard their data.
Here are some tips from a few security pros: Ken Leeser, Kaliber Data Security; Ken Levine, Digital Guardian; Ralph Rodrigues, Delfigo Security; Danielle Sheer, Carbonite and Foley Partner Aaron Tantleff who spoke on data security at the 2014 FOLEYTech Summit.
One of the initial decisions for entrepreneurs is whether to form their new entity as a limited liability company (LLC) or a Corporation. Entrepreneurs are often told by advisors that angel investors and VCs will only invest in Delaware C-corps. So if you want to raise money, the choice is simple – choose Delaware C-corp. And if you choose this well-traveled path, you won’t be alone – most venture backed companies are Delaware corps. But that should not preclude consideration of an LLC as the entity of choice for many reasons.
In Part I of this article, we introduced two of five threshold Intellectual Property (IP) questions that every startup should consider:
- Do you own all of your IP?
- How can you safely discuss your IP with others?
In this article, we introduce the remaining three considerations:
- How do you identify and protect your competitive differentiators?
- Do you have an idea or solution that is eligible for patent protection?
- What is your IP strategy?