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ETH1: 2.5 TechEnt > 003 PRIORITY > Flashcards

003 PRIORITY Flashcards

1
Q

1st requirement for patentability:+ derived advice

A

novelty (as opposed to, i.e. adding sthing to publicly described ‘state of the art’, incl. inventor’s own publications) –> first patent, then publish! –> be very careful in speculations last paragraph of papers–> confidentiality agreements are not enough, leaked info is not patentable

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2
Q

2 keys for successful startup:

A
  • let each do their role
  • let the best person be the product person, coz that’s the key role!
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3
Q

2nd requirement for patentability:+ def

A

inventiveness def: sthg that would not be obvious to someone ‘skilled in the art’, i.e. knowing a lot about it–> it often involves a creative combination of 2 things

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4
Q

Funding sources: the 3 to 7 Fs + 3 Xs
+ later sources

A
  • General
    • Family
    • Friends
    • Fools
  • Typically Swiss:
    • Founder –> expected to invest in CH
    • Faculty
    • Foundations –> cheap source
    • Family offices –> very good source

Later sources (in order of decreasing officiality)

  • Government Programs like the Commission for Technology Innovation
  • Venture capital & private equity
  • Crowdsourcing
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5
Q

3rd requirement for patentability:

A

sufficient disclosure

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6
Q

4 growth strategies compared

A

penetration => must push out competition

diversification => not very wise, usually

market & product dev

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7
Q

Avast:

Origin

BM

OpsMargin (in crowded space)

A
  • in 80s Czech R by 2 researchers not joining Communists- free, uncrippled product for most consumers, w few paying for premium
  • high level of automation
  • 30% margin!!!
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8
Q

Best option among Co forms:

A

Joint stock Co = AG Req.: 100k CHF of which at least 50k or 20% in cash

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9
Q

Big Co & entrepreneurship: 2 ways

A
  1. startup program
  2. invest in corp venturing
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10
Q

CH tech ent problems:

A
  • risk aversion (80% 5y survival rate < little risk taking) of Entrepreneurs- no seeding < investor’s risk aversion
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11
Q

Claesson’s availability to discuss new ventures for 1h:

A

Saturdays 15-18 - reserve via his assistant

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12
Q

Co valuation - cause

A

= price paid by last shareholder getting inReal share value <> nominal value!

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13
Q

code: which IP?

A

normally, copyright; you need to add some other element / feature to be able to patent, which protects you also against variations

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14
Q

equity crowdfunding def=

big advantage:

for who/what?

A

crowdfunding where equity, rather than products, are offered; not available in all jurisdictions

=> it lets you test your idea

for SW

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15
Q

estimated % of fake products in the world

A

10% !!!for trillions’ worth

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16
Q

estimated current weight of intellectual property on S&P500 Cos assets

A

80% !!!

17
Q

How to get other partners on board

A

(Owners sell existing shares)typically: the Co issues new shares, setting the price

18
Q

ideas VS implementation

A

(non patentable) ideas are cheap => share them to get help

value is in implementation

19
Q

“if you build it, they will come” is…

A

True only in films!

20
Q

incubators & accelerators

diff

+ common benefits

A

incubators when you still need to develop the idea

+ both provide an env of like-minded ppl who can help you

+ Prof. Claesson’s slides contain a very nice list of incubators & helpful orgs

21
Q
  • key to success…
  • key to it…
A
  • selling (ideas, etc.)
  • what to sell? sell passion! –> esp. to investors, who professionally must be passionless
22
Q

LLC / GmbH option plus:

A

Min capital is 20k CHF n the tax filing / accounting reqs are not heavy

23
Q

Localisation of Co -
3(4) factors:
Countries:

A

Corp + Personal tax rate
Stability
Quality of life

US, Canada, Australia, Japan; UK, Germany, CH, Nordic countries, Western Europe

24
Q

Methods in entrepreneurial marketing

A
  • Reverse graffiti
  • Viral marketing
  • Guerilla marketing

sometimes you need to use forbidden methods!

25
Q

mezzanine level

  • def=
  • benefit
A
  • convertible loans, with conditions
  • adds flexibility for investors & company
26
Q

patents & diff. countries

A

it is a cost issue: you need to patent in diff. countries or groups of countries in US, but only in US, you can patent biz models, too

27
Q

patents & innovativeness of a sector

A

the more innovative a sector is, the more patents are used there –> you must patent, otherwise others will do it all around your innovation

28
Q

Reasons for (sometimes) not taking money from corp venture

(2 intentional + 1 anyway)

A
  • they might want to take control (dilute also)
  • they might want to kill your Co
  • they might TAINT you vs other possible biz partners
29
Q

4 reasons in favor of accepting Corp venturing money

A
  • they can bring expertise
  • brand
  • clients
  • volume
30
Q

Rel bw tech & ValueAdded

A

mediated by BizStrat & BizModel (=Co’s DNA)

31
Q

Startup pivot =

avg Nr of pivots for a startup =

A

= change of biz model

avg = 2.3 !!!

32
Q

Total risk, 2 components:

A

Business Risk + Financial Risk

(where financial risk is seen as negative, in a balance-sheet assets-liabilities view)

33
Q

1+4 ways that customers can kill your startup

A
  • wanting their crowdsourcing money back
  • bad reviews
  • features creep
  • suits & liability
  • they do not pay in due time
34
Q

what can / should be patented?

A

product: if patentable, then patent!

product use: if patentable & communicated, then patent!

process: if patentable & evident, then patent!

35
Q

What does Co Startup Genome do?

A

They do comparisons bw a startup and its peers in terms of development stage.

36
Q

what is a “one-trick pony” startup?+ what conseq?

A

it is a startup w only 1 prod

it is worth much less than one w 2-3+ products

37
Q

When go to Venture Capitalists VS
strategic investors ~ corporate VCs?

A

High certainty in outcome > VCs (fast good exit)
Opposite: be the CVCs’ external R&D

38
Q

Why would you ever want to be a sole proprietor?

A

Only to be able to start right now or if you are very rich

ETH1: 2.5 TechEnt (11 decks)

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