企业组织形式

Chapter3ORGANIZINGANDFINANCINGANEWVENTURE

ENTREPRENEURIALFINANCE

1Chapter3:LearningObjectivesDescribetheproprietorship,partnership,&corporateformsofbusinessIdentifyalimitedliabilitycompany(LLC)Describethebenefits,risks,&basictaxaspectsofvariousorganizationalformsDiscusstheuseofpatents&tradesecretstoprotectintellectualproperty2Chapter3:LearningObjectives(continued)Discusstheuseoftrademarks©rightstoprotectintellectualpropertyDescribehowconfidentialdisclosureagreements&employmentcontractsareusedtoprotectintellectualpropertyrightsExplainhowfinancingisobtainedviafinancialbootstrapping&throughbusinessangels3FormsofBusinessOrganization

企业组织形式Proprietorships（独资企业）Partnerships（合资企业）GeneralLimitedCorporations（股份公司）CcorporationsS(orSubchapterS)corporationsLimitedLiabilityCompanies(LLCs)（有限责任公司）4Proprietorships独资企业Proprietorship:独资企业定义 businessventureownedbyanindividualwhoispersonallyliablefortheventure’sliabilitiesUnlimitedliability: personalobligationtopayaventure’sliabilitiesnotcoveredbytheventure’sassets5Partnerships合伙（资）企业Partnership:合伙（资）企业定义 businessventureownedbytwoormoreindividualswhoarejointlyandpersonallyliablefortheventure’sliabilitiesJointLiability: legalactiontreatsallpartnersequallyasagroup6Partnerships(continued)

合伙（资）企业JointandSeveralLiability: allowssubsetsofpartnerstobetheobjectoflegalactionrelatedtothepartnershipLimitedPartnership: limitslimitedpartnerliabilitiesinapartnershiptotheamountoftheirequitycapitalcontributiontothepartnership7Corporations股份制公司Corporation:股份制公司定义 alegalentitythatseparatespersonalassetsoftheowners(shareholders)fromthefirm’sassetsLimitedLiability: creditorscanseizethecorporation’sassetsbuthavenorecourseagainsttheshareholders’personalassetsCorporateCharter:股份制公司章程 legaldocumentthatestablishesthecorporationSCorporation:小股份制公司 provideslimitedliabilityforshareholderspluscorporateincomeistaxedlikepersonalincometotheshareholders8LimitedLiabilityCompanies(LLCs)有限责任制公司LimitedLiabilityCompany(LLC):有限责任制公司定义 abusinessorganizationownedby“members”(shareholders)withlimitedliabilityMajorIncentiveforOrganizingasanLLCearningscanbetaxedatthepersonalincometaxratesofthemembers9BasesforComparingVariousBusinessOrganizationalForms各类企业组组织形式比比较基数NumberofOwners&EaseofStartup（企业所有有者数量及及是否容易易组建）InvestorLiability（投资者的偿偿债责任））EquityCapitalSources（股权资本来来源）FirmLife&LiquidityofOwnership（企业的生生命周期与与所有权的的流动性））Taxation（（企业所得税税）10NumberofOwners&EaseofStartup企业所有者者数量及是是否容易组组建Proprietorshipone;lowtime&legalcostsPartnership(general)twoormore;moderatetime&legalcostsLimitedPartnershiponeormoregeneral&oneormorelimitedpartners;moderatetime&legalcosts11NumberofOwners&EaseofStartup(continued)企业所有者者数量及是是否容易组组建Corporation(C)oneormore,withnolimit;hightime&legalcostsS(SubchapterS)Corporationlessthan75owners;hightime&legalcostsLimitedLiabilityCompany(LLC)oneormore,withnolimit;hightime&legalcosts12InvestorLiability投资者的偿偿债责任ProprietorshipunlimitedPartnership(general)unlimited(joint&severalliability)LimitedPartnershiplimitedpartners’’liabilitylimitedtotheirinvestments13InvestorLiability(continued)投资者的偿偿债责任Corporation(C)limitedtoshareholders’investmentsS(SubchapterS)Corporationlimitedtoshareholders’investmentsLimitedLiabilityCompany(LLC)limitedtoowners’investments14EquityCapitalSources股权资本来来源ProprietorshipownerPartnership(general)partners,families,&friendsLimitedPartnershipgeneralandlimitedpartners15EquityCapitalSources(continued)股权资本来来源Corporation(C)ventureinvestors&commonshareholdersS(SubchapterS)Corporationventureinvestors&SubchapterSinvestorsLimitedLiabilityCompany(LLC)ventureinvestors&equityofferingstoowners16FirmLife&LiquidityofOwnership企业的生命命周期与所所有权的流流动性Partnershiplifedeterminedbyowner;oftendifficulttotransferownershipPartnership(general)lifedeterminedbypartners;oftendifficulttotransferownershipLimitedPartnershiplifedeterminedbygeneralpartner;oftendifficulttotransferownership17FirmLife&LiquidityofOwnership(continued)Corporation(C)unlimitedlife;usuallyeasytotransferownershipS(SubchapterS)Corporationunlimitedlife;oftendifficulttotransferownershipLimitedLiabilityCompany(LLC)lifesetbyowners;oftendifficulttotransferownership18Taxation公司所得得税ProprietorshippersonaltaxratePartnership(general)personaltaxratesLimitedPartnershippersonaltaxrates19Taxation(continued)公司所得得税Corporation(C)corporatetaxation;dividendssubjecttopersonaltaxratesS(SubchapterS)Corporationincomeflowstoshareholders;taxedatpersonaltaxratesLimitedLiabilityCompany(LLC)incomeflowstoowners;taxedatpersonaltaxrates20WhatisIntellectualProperty?什么是知知识产权权？IntellectualProperty:知识产权权定义aventure’’sintangibleassetsandhumancapitalandincludesinventionsandinnovationsthatcanbeprotectedfrombeingfreelyusedorcopiedbyothers21ProtectingValuableIntangibleAssets无形资产产的保护护措施ThereareFourFormsofProtection:Patents专利TradeSecrets商业秘密密Trademarks商标Copyrights版权22IntellectualPropertyProtectionMethods:BasicDefinitionsPatents:(专利）intellectualpropertyrightsgrantedforinventionsthatareuseful,novel,andnon-obviousTradeSecrets:（商业秘密密）intellectualpropertyrightsintheformofinventionsandinformationnotgenerallyknowntoothersthatconveyeconomicadvantagestotheholders23IntellectualPropertyProtectionMethods:BasicDefinitions(cont’d)Trademarks:（商标）intellectualpropertyrightsthatallowfirmstodifferentiatetheirproducts&servicesthroughtheuseofuniquemarksCopyrights:（版权）intellectualpropertyrightstowritingsinwrittenandelectronicallystoredforms24PatentBasics专利基础础知识Intellectualpropertyrightsgrantedforinventionsthatare““useful,””“novel,””and““non-obvious.”“创新的””、“非非显而易易见”。。PatentsaregrantedbytheU.S.PatentandTrademarkOfficePatentlawisverycomplex(youneedtohireapatentapplicationsspecialistlawyer)25FourKindsofPatents:四种类型型的专利利1.UtilityPatents:实用专利利covermechanicalorgeneralinventions,chemicalinventions,&electricalinventions2.DesignPatents:外观设计计专利coverthe““appearance””ofitems(e.g.,sportsuniforms,electronicproducts,&autos)3.PlantPatents:植物专利利protectdiscoveriesofasexualreproductionmethodsofnewplantvarieties保护无性性繁殖方方法发现现的新植植物品种种4.BusinessMethodPatents:商业模式式（方法法）专利利protectspecificwaysofdoingbusinessandtheunderlyingcomputercodesandtechnology.26UtilityPatents:BasicInformation实用专利利基本信信息AnewideabyitselfcannotbepatentedTheideamustbepartofaninventionthathasa““physicalform””suchasaproductThephysicalformalsocanexistasasequenceofstepscontainedinaprocessorthedeliveryofaservice27UtilityPatents:ApplicationProcess实用专利利：申请请程序DeveloporconceiveaninventionPrepare(you,oraregisteredpatentattorneyonyourbehalf)apatentapplicationFiletheapplicationinU.S.Patent&TrademarkOfficeIfsuccessful,theutilitypatentlifewillbe20years(priortomid-1995thelifewas17years)28UtilityPatents:ProvisionalPatentApplication临时专利利申请Beginninginmid-1995,inventorswerepermittedtofileaprovisionalapplicationFilingdatescanbeestablishedmorequickly&atlowercosts,&smallentitiesarechargedlowerfilingfeesAllowstheinventortousetheterm““patentpending””ontheinventionHowever,patentrights&protectionoccuronlywhenapatentisissued29ProvisionalPatentApplicationRequirements&Conditions临时专利利申请的的要求与与条件Aninventiontitle,theinventor’sname,residence,&addressforcorrespondenceClearlywrittendescriptionand“drawings”Apersonskilledintheartoftheinvention’sareashouldbeabletouseorpracticetheinventionHasalifeof12months&willbeabandonedunlessaregularpatentapplicationisfiled30RegularPatentApplicationRequirements常规专利利申请要要求Adetailedwrittendescriptionoftheinvention&detaileddrawingsofhowtheinventionworksOneormoreclaimsjustifyingwhytheinventionshouldbepatentedInventormustindicatethe““bestuse””ormethodofpracticingorcarryingouttheinvention31WhyMightYourPatentApplicationbeRejected?Forapatentapplicationtobeaccepted,theinventionmustbe:Useful有用theinventioncannotjust“donothing”Novel新创theinventionwasnotpreviouslyproduced,describedinapublication,orpatentedNon-Obvious“非显而易易见”inventionshouldbe“non-obvious”toapersonwithordinaryskillsintheartoftheinvention’sareaorsubject32WhyMightYourPatentApplicationbeRejected(cont’’d)?Timingoffilingtheapplicationmustbefiledwithinoneyearoffirstintroductiontothepublicinthefuture,itmaybenecessarytofilepriortoanypublicdisclosureoruse33WhatDoesHavingaPatentdofortheInventor?ThegovernmentdoesnotenforceyourrightsTheburdenofenforcingthepatentlieswiththeinventorandenforcementcanbecostlyRecordsindicatethatoverone-halfofpatentinfringementsuitstakentocourtarenotupheldonbehalfoftheinventor34TradeSecrets商业秘密Tradesecrets:intellectualpropertyrightsintheformofinventions&information(e.g.,formulas,processes,customerlists,etc.)Tradesecretsarenotgenerallyknowntoothers&conveyeconomicadvantagestotheholders35TradeSecrets(continued)WhyConsiderProtectionasaTradeSecretinsteadofasaPatent?tradesecretlawcansometimesprotectinventionsthatdidnotqualifyforpatentssomeinventorswanttoavoidthedetaileddisclosurerequiredbytheU.S.PatentandTrademarkOfficetherearenotimerestrictionsontradesecrets(incontrasttopatents)OtherMethods36TradeSecrets(continued)WhatareDrawbacksofSeekingProtectionunderTradeSecretsLaw?寻求商业秘密密法律保护的的缺陷是什么么？thereisnoformalprocedureforobtainingprotectionasatradesecretprotectionisestablishedbythesecret’scharacteristics&effortstoprotectitholdersdonothaveexclusive““rights”towhatcomprisesthesecret(someonecouldindependentlyreplicatethesecret)OtherMethods37Trademarks商标WhatareTrademarks?Intellectualpropertyrightsthatallowfirmsorotherstodifferentiatetheirproducts&servicesthroughtheuseofunique““marks”Marksallowconsumerstoeasilyidentifythesource&qualityofproducts/services38Trademarks(continued)商标Mosttrademarkstaketheformofnames,words,orgraphicdesignsTrademarksalsocanbeontheshapeofpackages,colors,odors,&soundsTrademarksarethemostvaluableformofintellectualpropertyformanyfirmsAtrademarkshouldbesuggestiveof(butnotdescribe)aproductorproductline39Trademarks(continued)商标HowdoYouObtainorDiscloseaTrademark(or™™)?noformalgovernmentprocedureexistsforestablishingatrademarkownershipisestablishedbybeingfirsttousethemarkonproductsatrademarkcanbelostifthemarkbecomesagenerictermorlabel(e.g.,““aspirin”or“cellophane”)40Trademarks(continued)商标HowdoYouRegisteraTrademark?atrademarkcanberegisteredinindividualstatesorwiththeU.S.PatentandTrademarkOfficeafederalregistrationshouldbeusedifaproductissoldinmorethanonestateproductswithfederallyregisteredtrademarksshowthetrademarkaccompaniedby®®41Copyrights版权Intellectualpropertyrightsto“writings”inwrittenandelectronically-storedformsProtectsthe“formofexpressionofanidea”andnotjustwordsthemselvesTraditionalwaytoestablishacopyrightisto“publish””yourbookorotherworkaccompaniedbyacopyrightnoticeusingtheword““Copyright””orthesymbol©©42Seed&StartupFinancing孵化（种子））期及启动期期经费的筹措措FinancialBootstrappingminimizingneedforfinancialcapital&findinguniquewaysoffinancinganewventureBusinessAngelFunding天使资金wealthyindividualswhoinvestmoneyinfledglingventuresinexchangefortheexcitementoflaunchingabusiness&ashareinanyfinancialrewards43OtherMethodsforProtectingIntellectualPropertyRightsConfidentialDisclosureAgreements:documentsusedtoprotectanideaorotherformsofintellectualpropertywhendisclosuremustbemadetoanotherindividualororganizationEmploymentContracts:agreementsbetweenanemployerandemployeewherebytheemployeremploystheemployeeinexchangefortheemployeeagreeingtokeepconfidentialinformationsecretandtoassignideasandinventionstotheemployer449、静夜四无无邻，荒居居旧业贫。。。1月-231月-23Saturday,January7,202310、雨中黄叶叶树，灯下下白头人。。。10:14:0810:14:0810:141/7/202310:14:08AM11、以我我独沈沈久，，愧君君相见见频。。。1月-2310:14:0810:14Jan-2307-Jan-2312、故人人江海海别，，几度度隔山山川。。。10:14:0810:14:0810:14Saturday,January7,202313、乍见翻疑梦梦，相悲各问问年。。1月-231月-2310:14:0810:14:08January7,202314、他乡生白白发，旧国国见青山。。。07一月月202310:14:08上上午10:14:081月-2315、比不了得得就不比，，得不到的的就不要。。。。一月2310:14上午1月-2310:14January7,202316、行动出成成果，工作作出财富。。。2023/1/710:14:0810:14:0807January202317、做前，能能够环视四四周；做时时，你只能能或者最好好沿着以脚脚为起点的的射线向前前。。10:14:08上上午10:14上午10:14:081月-239、没有失失败，只只有暂时时停止成成功！。。1月-231月-23Saturday,January7,202310、很多事事情努力力了未必必有结果果，但是是不努力力却什么么改变也也没有。。。10:14:0810:14:0810: