WEBVTT

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Let me just take a few shares here.

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You can just raise your virtual hand.

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How are you guys doing?

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Are you guys doing okay with day one?

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Yeah?

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All right.

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See that?

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Good.

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All right.

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It wasn't too much?

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You guys are...

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Okay, good.

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I didn't want to lose you guys on day one, but I wanted to kind of jump you in gently,

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give you a few things that you can play with on your own, like a few tools you can go

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home for free and you mess up anything you want, we can fix it.

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That's all right.

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You don't have to worry about any of that.

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So we're going to dig in more detail now because you're in VIP.

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VIPs, it's a real deal.

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We go really deep.

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People bring their real life situations and we do a lot of stuff here.

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So let me see.

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I'm going to give it like another two minutes before I jump in, but let me...

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Does anybody have anything in particular that jumped out at them?

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Just raise your virtual hand.

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I'll unmute you and just kind of see if there's something that in particular, like you were

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like, man, I didn't know about that, or that's something I could definitely apply.

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Anything like that?

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Krisna.

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I love that name.

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Oh, Krisna.

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Go ahead.

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Hi.

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How are you?

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It's so good.

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By the way, Concord is so beautiful and I'd love to come back.

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It was so helpful to know that, do your trademark search before you register your company, do

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you know?

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Absolutely.

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Yeah.

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That's so important.

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And especially in light of the fact that a lot of these companies are bootstrap companies

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where they're investing retirement money or like college tuition money just to try

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to build a startup.

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Or it's like somebody who's dealing with an issue with their normal jobs, they're trying

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to build another job and what a waste of money to like, do you know how much money people

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spend on websites and logos and like stencil and sometimes business cards?

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I mean, all these things.

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And then all of a sudden somebody tells you, change it all.

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It's like, I don't have a budget to change it all.

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What do you mean change it all?

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That's not even possible.

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So, I mean, there is a possibility to try to seek a license from another, but typically

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in trademark licensing, the big thing with trademarks is that you can't license your

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trademark to another party who's not using it in a consistent manner where you're monitoring

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the goodwill, like making sure they're using it the same way because the result is that

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the public gets confused as to the source of goods.

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They're like, well, hold it, there's this company that's doing like these tennis rackets

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and this other one that's doing like ping pong paddles and like, hold it, who's who?

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I don't understand.

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And so it confuses the public.

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So the government says, yeah, none of that.

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You got to make sure that it's used properly.

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And what we're going to do tomorrow is we're going to go into how do you determine trademark

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infringement?

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How do you know?

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And I'm going to actually touch base with you here on this also, as I'm answering some

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of your questions.

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I want to dig into what are the factors for determining if I'm infringing somebody's trademark?

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Because there's nine to 12 factors that you look at.

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And it's a balancing test, you know?

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And so I'm going to touch base on that first thing tomorrow, but I'll give you guys a preview

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of it here as well.

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So Samuel, go ahead, right here, my friend.

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That handout you gave is amazing.

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I'm a visual guy, just seeing where things fit, because all of this sounds like was like

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spaghetti to me.

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It's like it was all mixed up.

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OK, trademarks, patents, and I've kind of dabbled in all, but I didn't really see the

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big picture till now.

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So thank you so much for that handout.

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That's amazingly useful.

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And I'll be going back to that over and over again, I'm sure.

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That's fantastic.

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That was the hope, is that because you're right, it is.

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It's almost like an amorphous blob.

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You're like, hold it.

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What's the difference between trademark and copyright?

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Like that can get really tricky.

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Do you realize that the same thing can be protected under both trademark and copyright?

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So I mean, think of it this way, a logo.

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So let's say that Krisna, she created the logo, right?

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She's the artist.

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So now she creates it and she sells it to Brittany.

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And now Brittany is like, I got this cool new logo, awesome.

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So she goes and she files for a trademark application because you can protect logos

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under trademarks.

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But Krisna has rights under copyright law to the original artistic work.

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And that's the same logo.

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And so now you're going, well, hold on a second, hold it, hold it.

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I filed a federal trademark.

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mark application, and I've got a registration. And now the

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artist comes out of the woodwork and says, I didn't say you could

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do that. And so now Brittany says, Well, what do you mean you

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didn't say you could do that I paid you 10 grand to come out

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with an authentic, unique logo. And Krishna, I feel bad now

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using her name, because he's such a nice person. Clearly.

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Now I'm like, Krishna doesn't do this. That's the disclaimer.

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We're just using her name, right? So this individual

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basically says, No, no, I gave you a non exclusive license to

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use the logo. I didn't give you a right. All right, title and

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interest to the logo. I'm the artist. As the artist, I own

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all right, title and interest to that logo. If you think of

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NFTs, same thing with NFTs. People are buying NFTs thinking

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that they own them, you don't own the NFT, you got a non

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exclusive license to trade a baseball card, that's what you

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got. You don't you don't own that thing flat out. And so you

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can do literally anything you want, you got a non exclusive

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license. Now there are certain companies that have caught on to

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this. And so what they're doing now is they're they're providing

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what's called a premium level. So you can get a premium NFT

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where you now own all right title and interest to the NFT.

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So people are spending 1000s of dollars more for those because

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now it is 100% yours. Now you can license it to other parties.

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So it's a very different world out there. And so I'm so glad

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Samuel that that that helps. That was my heart and it is how

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do I take this field that can be very confusing where certain

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things are protectable multiple ways? And how do I make it so

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that somebody can go Oh, there it is. Got it. Got it. Got it.

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So that's my hope. I'm glad to hear that. So

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alright, so let's jump in a little bit here unless somebody

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else had something. TJ, did you want to say something, brother?

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Are you all set?

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No, I'm good. I mean, just with you last week on Noah, today

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kind of recapped all of that. And I'm pretty much on board

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with that the intent to file that application was kind of

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jumped out at me. So like, I did a tiny home search on the

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patent.gov, whatever. And, you know, I don't see anything

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there. You kind of make it look like you got it, you know,

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because the name is pretty simple, tiny homes, Montana LLC.

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And, you know, tiny comes up, you know, in the, in the, in the

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breakdown of the keywords, but nothing comes up like that. So

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I was just wondering, you know, I'm kind of a do do it yourself

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kind of guy. And by nature, and I'm like, why can't I just file

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that?

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Yeah, it's a good question. So let's jump in. Now. Chevelle is

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here as well. Chevelle is an attorney, as far as I recall.

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Chevelle, can you hear?

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It might be recording on her side. All right. So she's asking

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here. Hey, how are you? I'm good. How are you? I'm good. What

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area law do you practice?

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I do criminal but I also do some intellectual property work.

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Fantastic. That is great. I'm a former prosecutor.

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All right. All right, girl. You got brothers and sisters in the

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house. That's good. That is good. So here's the deal. I

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want to, I'm going to start out with your situation, TJ. All

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right. And this is why VIP is here. We're going to elaborate

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on something here. Okay. The name that you mentioned, tiny

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homes, Montana. All right. In the trademark world, you cannot

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obtain a trademark for something that's considered to be

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descriptive. Okay. Now, what does descriptive mean?

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Descriptive is, think of it this way, the name right now is

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descriptive is, think of it this way, the name red door is

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somebody own the name red door in construction. That wouldn't

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be permissible. Why wouldn't it be permissible? Somebody unmute

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themselves and tell me why it wouldn't be fair for somebody in

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construction to own the name red door. Anybody?

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Common term, common term, boom. So if, if somebody owned the

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name red door in construction, that means nobody could then

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use the name red door. So that means when you go to Home Depot

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and somebody selling red doors, they'd have to say like, blood

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colored doors for sale, like they couldn't say red doors

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because, because somebody owns the name red door. However, what

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can happen instead is that somebody can own the name red

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door in a different field. So there is this, there is this

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name Red Door for perfume, right? Because Red Door is not descriptive of perfumes. So let's take that

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distinction.

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to TJ, your specific situation, right? I believe you should touch base with an attorney, quite

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frankly, to finalize this. But here's the situation. Tiny Homes, Montana. If what you're

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going to be using that name for is Tiny Homes being sold in Montana, then you've got a problem

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because what you're talking about is something that's potentially descriptive. And this is why

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you should speak to an attorney to make sure, okay? I don't want to give you legal advice

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because there's no legal advice here. But if the trademark that you are going for

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is descriptive of the goods that you're trying to cover with that trademark,

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Chevelle will tell you they will not allow it. They won't allow it. Because when you file,

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tomorrow I'm going to show you in a trademark application all the parts. And what they do is

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they look at the goods or the services and they say, okay, are those goods basically described

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by the name that they're going for? If the answer is yes, then they won't allow it. Go ahead,

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TJ. You were going to say something. Oh, yeah. So it's custom built Tiny Homes is the sub name

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of it. Right. And the service that you're providing is providing manufacturing of Tiny Homes.

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Right. So for the wheels to the roof inside and out, make it your own. Yeah. Yeah. And I know,

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I know because, you know, Robin and you know, that group and they're very good at what they're

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doing. Oh, yeah. So you know what you're doing. Right. I would say in the trademark world,

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you want to touch base with an attorney because the things that you're talking about are

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descriptive of what you're actually providing. You're providing custom Tiny Homes. Right.

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So if I'm providing custom, I'm just going to I'm not going to give you legal advice in this. I'm

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just saying in general, if I'm if I as an individual and providing custom Tiny Homes to the

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public, and I call it custom Tiny Homes, then nobody can really describe the service that I'm

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providing because they'd be infringing my trademark. And so therefore, the government

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won't allow that. So you need to come up with something that's very unique. The area of

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trademarks in general, just so people understand, this is typically the most difficult area of IP

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for people to come up with something authentic. People are more likely to come up with a new

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invention than they are to come out with a unique name. And that seems weird. It seems almost

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counterintuitive. But you put a bunch of nerdy inventors in a room like myself. I'm going to

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come up with an invention. I mean, we're geeks, you know, just put us in a room, you know, the

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juices start flowing. All of a sudden we're like, I mean, Helene's here. You put that woman anywhere

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like she'll come up with an invention. That's what she does. She's invents. And so coming up

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with an invention is easy. But here's the thing. There's only so many letters in the alphabet.

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And there's only so many words in the English language. So with there being millions upon

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millions upon millions of trademarks out there, it's kind of hard to come out with a new sequence.

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And so when you have a new name, the first thing I want to touch base with you all here on

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is intent to use trademark applications. Okay? Because if you come out with an authentically

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new name that nobody has come out with before, and you're not using it yet for products, you're

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not using it yet for services, don't wait to file. Do not wait to file your trademark application.

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Why? Because somebody else may come up with that name and the trademark office works as a first to

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file system. So you may use it for three weeks. And then TJ is like, Hey, I got this awesome idea.

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I'm going to go file for something. And he files for the exact same name that Sandy came up with.

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And Sandy goes, who's this TJ guy? Like, how'd he come up with my name? Well, the fact is that he filed before,

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even though Sandy has been using it for three weeks, he filed before. So now the situation is

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TJ can get the federal registration as long as he didn't steal it from Sandy, right? Because he's

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got to sign a declaration. You'll see tomorrow when we in VIP, when we go through a trademark

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application, there's a declaration you have to sign saying you didn't steal the name from somebody

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else, right? So assuming that he didn't because TJ wouldn't do that. So he goes and he files,

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even though Sandy came out with it first, the situation is going to be TJ has the potential

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of owning that name throughout the United States. And Sandy gets nailed into the specific geographical

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region where she's already using it and cannot expand. That's what could potentially happen

227
00:14:52.800 --> 00:14:58.800
because Sandy didn't file first. So it's a first to file system. You want to file,

228
00:14:58.800 --> 00:14:59.760
you come out with the name.

229
00:15:00.000 --> 00:15:07.280
file it's called an intent to use trademark application it's under section 1 b 1 b

230
00:15:08.320 --> 00:15:15.920
all right b as in boy an actual use trademark application falls under section 1a

231
00:15:16.800 --> 00:15:21.440
a as in apple okay so when you work with your attorney and you say you know what

232
00:15:22.080 --> 00:15:28.400
and i've had this people have come to me and say i went to my attorney and i said hey i've got this

233
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name and they said are you using it yet and i said no i'm not and the attorney said well then

234
00:15:32.080 --> 00:15:38.560
you can't do anything that's not true you file a section 1b application now what will happen is

235
00:15:38.560 --> 00:15:44.880
your application will go through the process right so you'll file your application it goes

236
00:15:44.880 --> 00:15:53.360
through the process it'll get examined it'll get allowed and once it's allowed it will not issue

237
00:15:54.320 --> 00:16:00.560
all right it won't issue until you file a petition to change it from an intent to use application to

238
00:16:00.560 --> 00:16:08.400
an actual use application once you file that it'll change from a 1b to a 1a and your registration

239
00:16:08.400 --> 00:16:12.160
will go forward but here's the thing this is the cool thing about the government the way they did

240
00:16:12.160 --> 00:16:17.520
this they said well you know what you might be doing manufacturing testing you might be testing

241
00:16:17.520 --> 00:16:22.960
the market it could be like a million different reasons why you're not using it yet they will

242
00:16:23.040 --> 00:16:31.280
allow you listen to this they will allow you up to three years of extensions on your trademark

243
00:16:31.280 --> 00:16:37.760
application so let's say you're thinking to yourself well hold it i've got a really cool

244
00:16:37.760 --> 00:16:46.080
name but i'm not really um i'm not really ready to to use it so but i'm not going to use it probably

245
00:16:46.080 --> 00:16:50.560
for another year and a half because that line within my business is not going to be brought

246
00:16:50.560 --> 00:16:54.240
forward that's not in my profit center yet i'm thinking about it but it's not there yet

247
00:16:55.040 --> 00:16:59.920
it's okay file your trademark application and once you get your allowance then you can file

248
00:16:59.920 --> 00:17:07.040
what's called an extension so you file an extension to get to actually filing your your statement of

249
00:17:07.040 --> 00:17:11.839
use because you're not using it yet so you file an extension and you have to provide a reason why

250
00:17:11.839 --> 00:17:15.920
you're following your extension your attorney will walk you through this and one of the reasons could

251
00:17:15.920 --> 00:17:24.400
just be testing the market still in manufacturing phase that's okay you can get up to three years of

252
00:17:24.400 --> 00:17:31.120
extensions so don't end up shooting yourself in the foot when you find out somebody else filed

253
00:17:31.120 --> 00:17:35.280
before you because you didn't file because you didn't know you could file intent to use as a way

254
00:17:35.280 --> 00:17:45.600
around the whole system any questions on that yeah yeah good yeah so i i have the llc and but that i

255
00:17:45.600 --> 00:17:52.800
can't use because it's too descriptive no you can't use an llc no no that's a great question tj

256
00:17:52.800 --> 00:18:02.000
okay all right tj just raised a really good point he says what if i file with the secretary of state

257
00:18:02.880 --> 00:18:10.640
for an llc that is descriptive that's okay another one with that right there's no problem you could

258
00:18:10.640 --> 00:18:18.000
file as descriptive you could say you know peter's peter's challenges i could file with secretary

259
00:18:18.000 --> 00:18:23.760
of state for that right so there's no problem with that the problem is if you're trying to

260
00:18:23.760 --> 00:18:30.560
make sure that you own that name so nobody else can own it now why would you want to actually own

261
00:18:30.560 --> 00:18:35.920
a name let's back up for a second why does anybody care about trademarks i mean who cares why can't

262
00:18:35.920 --> 00:18:42.160
you just do business like who cares if you provide a good service or you provide a really

263
00:18:42.160 --> 00:18:48.080
good product or service then you're going to gain a following it's just going to happen people are

264
00:18:48.080 --> 00:18:55.520
going to see man tj is like he does these custom small homes and man like that's a reasonable cost

265
00:18:56.640 --> 00:19:02.240
hey do you hear about tj's company yeah what's the name of the company oh well it's you know

266
00:19:02.240 --> 00:19:08.720
custom built blah blah blah whatever it is right now let's say that somebody else starts doing

267
00:19:08.720 --> 00:19:14.880
custom built little homes so now they're they're using custom built little homes so now there's

268
00:19:14.880 --> 00:19:22.720
custom built homes montana somebody else says i want to use custom built homes montana right tj

269
00:19:22.720 --> 00:19:27.200
can't stop them from using custom built homes because that's just descriptive like samuel said

270
00:19:27.200 --> 00:19:33.440
earlier so since it's just descriptive he can't stop them from using the same name so all the

271
00:19:33.440 --> 00:19:40.000
money and all the goodwill that he's put to or even if you like he's been gifted like like divinely

272
00:19:40.000 --> 00:19:47.520
gifted with a certain talent and he wants to bring that talent forward people are not going to be able

273
00:19:47.520 --> 00:19:53.600
to know what is authentically what tj is bringing forward or not when they go onto a website because

274
00:19:53.600 --> 00:19:58.960
somebody's going to use the exact same name and so they might purchase services from somebody who

275
00:19:58.960 --> 00:19:59.920
is not the author

276
00:20:00.000 --> 00:20:04.440
authentic, original provider, or they may provide,

277
00:20:04.440 --> 00:20:07.000
they may purchase products, whatever it is.

278
00:20:07.000 --> 00:20:09.520
But the situation is that they're not really,

279
00:20:09.520 --> 00:20:11.260
they're not working with TJ

280
00:20:11.260 --> 00:20:12.900
because he doesn't have an authentic name.

281
00:20:12.900 --> 00:20:14.220
He doesn't have an original name.

282
00:20:14.220 --> 00:20:16.020
He doesn't own the name.

283
00:20:16.020 --> 00:20:18.700
Now, if instead he comes out with like,

284
00:20:20.000 --> 00:20:24.060
you know, like come up with a name, let's say,

285
00:20:24.060 --> 00:20:29.060
let's say Power, I'm just going to come up with something,

286
00:20:36.360 --> 00:20:38.400
right, Power Shielded Homes.

287
00:20:38.400 --> 00:20:40.640
It's just called Power Shielded Homes, right?

288
00:20:40.640 --> 00:20:43.800
And nobody's ever used that, Power Shielded Homes.

289
00:20:43.800 --> 00:20:47.260
And now he provides this high quality service,

290
00:20:47.260 --> 00:20:50.300
custom built, good prices.

291
00:20:50.300 --> 00:20:52.740
Then people are going to look for that name.

292
00:20:52.740 --> 00:20:53.660
They're going to seek that name.

293
00:20:54.300 --> 00:20:55.300
They're going to go on Google, search that name.

294
00:20:55.300 --> 00:20:57.740
And nobody else can use that name because he owns it

295
00:20:57.740 --> 00:20:58.780
when he files a trademark.

296
00:20:58.780 --> 00:21:01.980
That's why you use trademarks, okay?

297
00:21:01.980 --> 00:21:03.500
Any other questions on that?

298
00:21:03.500 --> 00:21:06.360
Yeah, so I can keep the business name as a business name,

299
00:21:06.360 --> 00:21:08.620
but for a trademark name,

300
00:21:08.620 --> 00:21:12.060
I got to come up with something else that's unique.

301
00:21:12.060 --> 00:21:14.420
Yeah, and in general for everybody here,

302
00:21:14.420 --> 00:21:17.140
just so you understand, you don't want to,

303
00:21:17.140 --> 00:21:21.100
it's typically not a great idea to have one name

304
00:21:21.380 --> 00:21:23.820
with the state, another name with the service,

305
00:21:23.820 --> 00:21:25.140
another name with the product.

306
00:21:25.140 --> 00:21:27.300
It's like, you can do that.

307
00:21:27.300 --> 00:21:30.460
Like if you're Microsoft, you could have Microsoft,

308
00:21:30.460 --> 00:21:33.140
then you have Microsoft Excel, Microsoft Word,

309
00:21:33.140 --> 00:21:34.820
you know, Microsoft PowerPoint, right?

310
00:21:34.820 --> 00:21:37.340
Those are different product lines, right?

311
00:21:37.340 --> 00:21:40.460
But if you're going to spend all the money on an LLC,

312
00:21:40.460 --> 00:21:43.540
it's a great idea to actually use a name

313
00:21:43.540 --> 00:21:46.420
that you can own yourself, that's authentic,

314
00:21:46.420 --> 00:21:50.760
that you can utilize as like your home brand, you know?

315
00:21:51.420 --> 00:21:53.640
And then if you come up with products underneath it,

316
00:21:53.640 --> 00:21:54.480
yeah, by all means,

317
00:21:54.480 --> 00:21:57.840
you can have different authentic names for those,

318
00:21:57.840 --> 00:21:59.400
like three different product lines,

319
00:21:59.400 --> 00:22:02.540
each one has a different name, right?

320
00:22:02.540 --> 00:22:06.080
Like Denon & Morant's, D&M Holdings, right?

321
00:22:06.080 --> 00:22:08.880
Which is owned by Sound United, one of my clients.

322
00:22:08.880 --> 00:22:11.880
So they have many different product lines,

323
00:22:11.880 --> 00:22:15.480
but it all falls under D&M, right?

324
00:22:15.480 --> 00:22:16.680
Or Sound United,

325
00:22:16.680 --> 00:22:18.600
and then there's a bunch of different products.

326
00:22:18.600 --> 00:22:20.840
So you can, by all means, TJ,

327
00:22:20.840 --> 00:22:23.800
you could have the generic name company,

328
00:22:23.800 --> 00:22:27.200
then you can have the product that's being sold

329
00:22:27.200 --> 00:22:28.840
have a unique name,

330
00:22:28.840 --> 00:22:31.600
or the service that's being provided have a unique name.

331
00:22:31.600 --> 00:22:34.520
It's a little more difficult to have a service

332
00:22:34.520 --> 00:22:38.240
have a unique name from the company name,

333
00:22:38.240 --> 00:22:40.640
because you typically want the service

334
00:22:40.640 --> 00:22:43.500
to be associated with the company, right?

335
00:22:43.500 --> 00:22:45.720
So you're building up all this brand recognition

336
00:22:45.720 --> 00:22:47.480
for the main company name,

337
00:22:47.480 --> 00:22:49.640
but then you got to build all this brand recognition

338
00:22:49.640 --> 00:22:52.640
for the service when the company is providing the service.

339
00:22:52.640 --> 00:22:57.360
So why would you like spend all this time and money

340
00:22:57.360 --> 00:23:00.020
building up a following for the company name,

341
00:23:00.020 --> 00:23:02.240
and then spend all this time and money

342
00:23:02.240 --> 00:23:04.060
building up a following for the service?

343
00:23:04.060 --> 00:23:06.800
It's like, just use the company name.

344
00:23:06.800 --> 00:23:08.240
It makes it more powerful.

345
00:23:08.240 --> 00:23:10.360
It's like, you see that name and pow,

346
00:23:10.360 --> 00:23:12.040
it's like, oh, that's the service I want,

347
00:23:12.040 --> 00:23:13.720
because you recognize the name.

348
00:23:13.720 --> 00:23:14.680
Brittany, go ahead.

349
00:23:15.680 --> 00:23:19.320
I was kind of wondering about that, about a DBA then.

350
00:23:19.320 --> 00:23:21.920
Like, can you have a company name that's not unique

351
00:23:21.920 --> 00:23:23.160
or that is descriptive,

352
00:23:23.160 --> 00:23:25.520
and then you don't have a trademark DBA,

353
00:23:25.520 --> 00:23:26.360
and mostly-

354
00:23:26.360 --> 00:23:27.240
People do that all the time.

355
00:23:27.240 --> 00:23:28.520
Great question.

356
00:23:28.520 --> 00:23:29.360
Yeah, great question.

357
00:23:29.360 --> 00:23:30.600
People do that all the time.

358
00:23:30.600 --> 00:23:33.740
Is that kind of a workaround then, if you've got-

359
00:23:33.740 --> 00:23:35.520
Well, here's the thing though.

360
00:23:35.520 --> 00:23:36.800
You still got to be careful

361
00:23:36.800 --> 00:23:39.960
about trademark infringement with DBAs, right?

362
00:23:39.960 --> 00:23:43.200
So just because it's a DBA does not mean

363
00:23:43.200 --> 00:23:45.680
that you're away from trademark infringement,

364
00:23:45.680 --> 00:23:48.400
because you're doing business as that name.

365
00:23:48.400 --> 00:23:51.080
So let's say I have A to E challenges, right?

366
00:23:51.080 --> 00:23:54.080
But my DBA is Microsoft Excel.

367
00:23:54.080 --> 00:23:57.160
Microsoft's not going to go, oh, well, it's only a DBA.

368
00:23:57.160 --> 00:23:59.800
Nope, I'm getting a knock on my door,

369
00:24:00.800 --> 00:24:02.720
which is more likely either cease and desist or-

370
00:24:02.720 --> 00:24:04.320
What about the other way around, Peter?

371
00:24:04.320 --> 00:24:08.120
Like, what if your company name is descriptive

372
00:24:08.120 --> 00:24:11.200
or maybe not unique enough?

373
00:24:11.200 --> 00:24:15.720
Can you pick out a DBA that you could trademark

374
00:24:15.720 --> 00:24:16.560
and then build-

375
00:24:16.560 --> 00:24:17.400
That's a great question.

376
00:24:17.400 --> 00:24:19.320
Brand recognition there.

377
00:24:19.320 --> 00:24:21.680
Yeah, that's a great question.

378
00:24:21.680 --> 00:24:22.960
Yeah, you can.

379
00:24:22.960 --> 00:24:24.320
You can do it that way.

380
00:24:24.320 --> 00:24:28.480
Gain your brand recognition through your DBA.

381
00:24:28.480 --> 00:24:30.600
By all means, you can file your trademark application

382
00:24:30.600 --> 00:24:31.740
for your DBA.

383
00:24:32.680 --> 00:24:33.640
You can do all that.

384
00:24:33.640 --> 00:24:34.480
Yeah, absolutely.

385
00:24:34.480 --> 00:24:35.760
But that's a great question.

386
00:24:37.040 --> 00:24:38.280
Do you run into problems that,

387
00:24:38.280 --> 00:24:40.440
like, do you run into that same Goodwill problem?

388
00:24:40.440 --> 00:24:43.640
People have to write their checks out to the company name.

389
00:24:43.640 --> 00:24:45.120
You always have to say,

390
00:24:45.120 --> 00:24:47.600
no, my real name is my first name,

391
00:24:47.600 --> 00:24:49.320
but I go by my middle name, essentially,

392
00:24:49.320 --> 00:24:50.440
but for your business.

393
00:24:51.960 --> 00:24:54.200
No, what you just said is, like,

394
00:24:54.200 --> 00:24:57.480
the biggest nightmare that people run into in business,

395
00:24:57.480 --> 00:25:00.160
where they have, like, this is so funny.

396
00:25:00.000 --> 00:25:02.240
they have like a main business,

397
00:25:02.240 --> 00:25:03.480
but everybody's using a DBA.

398
00:25:03.480 --> 00:25:08.480
Or they have like a main business and nobody uses DBA.

399
00:25:08.480 --> 00:25:09.840
And they're like, well, hold it,

400
00:25:09.840 --> 00:25:11.080
which do I follow the trademark on?

401
00:25:11.080 --> 00:25:13.880
And I say, well, why do you have a DBA in the first place?

402
00:25:13.880 --> 00:25:17.560
Can we go back to our foundation just for a minute here?

403
00:25:17.560 --> 00:25:20.860
What exactly was the purpose of the DBA?

404
00:25:20.860 --> 00:25:22.920
Like, is it that you formed a company

405
00:25:22.920 --> 00:25:24.640
and then all of a sudden you're like,

406
00:25:24.640 --> 00:25:25.880
well, that name isn't great,

407
00:25:25.880 --> 00:25:29.360
so now I want a DBA so that I can use the DBA.

408
00:25:29.360 --> 00:25:31.000
Well, maybe you just want to change the name

409
00:25:31.000 --> 00:25:33.720
of the company then, in which case you don't have to do,

410
00:25:33.720 --> 00:25:36.400
because you're never using the company name, you know?

411
00:25:36.400 --> 00:25:37.680
So there's different ways to do it.

412
00:25:37.680 --> 00:25:39.160
You should speak to your attorney

413
00:25:39.160 --> 00:25:41.680
and see what way works best for you,

414
00:25:41.680 --> 00:25:45.560
because your specific use is going to,

415
00:25:45.560 --> 00:25:48.400
is going to dictate the answer to that.

416
00:25:48.400 --> 00:25:51.760
You know, like, am I using it on the website?

417
00:25:51.760 --> 00:25:53.200
Am I using it on Stencil?

418
00:25:53.200 --> 00:25:57.920
Am I only in personal contacts with individuals?

419
00:25:57.920 --> 00:25:58.880
What's the audience?

420
00:25:59.400 --> 00:26:02.640
There's a lot of factors to look at to kind of determine,

421
00:26:03.680 --> 00:26:06.160
do I want to protect my DBA

422
00:26:06.160 --> 00:26:08.200
or do I want to protect my company name

423
00:26:08.200 --> 00:26:09.840
or do I want to protect both?

424
00:26:09.840 --> 00:26:13.160
But in general, what I do, like I have a company

425
00:26:13.160 --> 00:26:17.200
and then I have a DBA, they're so similar.

426
00:26:17.200 --> 00:26:18.960
Like, they're very close.

427
00:26:18.960 --> 00:26:21.320
You know, it's just that everybody started using

428
00:26:21.320 --> 00:26:22.160
something different.

429
00:26:22.160 --> 00:26:23.960
So I was like, all right, fine, I'll make that the DBA,

430
00:26:23.960 --> 00:26:26.040
you know, but in general,

431
00:26:26.040 --> 00:26:30.160
you try to have the company name the same as,

432
00:26:30.160 --> 00:26:33.080
because it adds confusion, right?

433
00:26:33.080 --> 00:26:36.400
The whole intent behind trademarks

434
00:26:36.400 --> 00:26:39.400
is to limit confusion, right?

435
00:26:39.400 --> 00:26:41.400
Because to determine infringement,

436
00:26:41.400 --> 00:26:44.360
what you look at is, is there a likelihood of confusion

437
00:26:44.360 --> 00:26:47.240
in the public, in the consumer's eye?

438
00:26:47.240 --> 00:26:48.880
So when I look at Brittany's trademark

439
00:26:48.880 --> 00:26:50.560
and I look at Ginny's trademark,

440
00:26:51.440 --> 00:26:53.800
is there a confusion between the two, right?

441
00:26:53.800 --> 00:26:55.440
That's how you determine trademark infringement,

442
00:26:55.840 --> 00:26:57.120
which we're talking about tomorrow.

443
00:26:57.120 --> 00:27:00.840
But now when I look at my DBA

444
00:27:00.840 --> 00:27:03.560
and I have my main company name and I have my DBA,

445
00:27:04.400 --> 00:27:06.840
when people hear the two, are they going to get confused?

446
00:27:06.840 --> 00:27:08.600
Because if I'm adding confusion,

447
00:27:08.600 --> 00:27:13.000
I'm decreasing what I'm making as a company, all right?

448
00:27:13.000 --> 00:27:16.560
Like I want to gain a following behind my services,

449
00:27:16.560 --> 00:27:19.600
behind my products, so I want clarity.

450
00:27:19.600 --> 00:27:21.680
Clarity is very important.

451
00:27:21.680 --> 00:27:23.720
It has to be very simple to follow.

452
00:27:23.720 --> 00:27:26.360
And if what's going on is between my company name

453
00:27:26.360 --> 00:27:27.720
and my DBA, people are like,

454
00:27:27.720 --> 00:27:31.440
well, am I going after the company or is this the DBA?

455
00:27:31.440 --> 00:27:33.840
Or is it like, how are they being used?

456
00:27:33.840 --> 00:27:34.680
I don't understand.

457
00:27:34.680 --> 00:27:38.200
And if you can just use one, just use one.

458
00:27:38.200 --> 00:27:40.640
There's no real, people kind of,

459
00:27:40.640 --> 00:27:44.360
they fell in love with the idea of DBAs.

460
00:27:44.360 --> 00:27:45.840
And they're like, oh, well, that's really cool.

461
00:27:45.840 --> 00:27:46.680
I got a DBA.

462
00:27:46.680 --> 00:27:47.920
It's like, well, yeah.

463
00:27:47.920 --> 00:27:49.560
So now there's another layer of people

464
00:27:49.560 --> 00:27:51.920
to actually have to understand

465
00:27:51.920 --> 00:27:55.840
before they really get to know your services,

466
00:27:55.840 --> 00:27:57.840
because you now have two names, not one.

467
00:27:58.800 --> 00:28:01.840
So, and obviously a DBA means

468
00:28:01.840 --> 00:28:03.280
that that's the name the public's seeing.

469
00:28:03.280 --> 00:28:04.600
Well, if that's the name the public's seeing,

470
00:28:04.600 --> 00:28:05.720
then why don't you own it?

471
00:28:05.720 --> 00:28:07.600
Just make it the name of your company.

472
00:28:07.600 --> 00:28:09.000
You can do DBAs.

473
00:28:09.000 --> 00:28:10.080
I'm not saying don't do them.

474
00:28:10.080 --> 00:28:13.520
I'm just saying they can get confusing to the public

475
00:28:13.520 --> 00:28:16.400
when they just don't understand like what's going on here.

476
00:28:16.400 --> 00:28:17.360
Samuel, go ahead.

477
00:28:18.320 --> 00:28:20.200
We'll come back to you, Brittany, go ahead.

478
00:28:20.200 --> 00:28:21.040
Okay, yeah.

479
00:28:21.040 --> 00:28:24.840
So my question has to do with website names now

480
00:28:24.840 --> 00:28:26.880
associated with the company,

481
00:28:26.880 --> 00:28:29.640
because that's always the next biggest problem.

482
00:28:29.640 --> 00:28:31.760
Are those trademarkable?

483
00:28:31.760 --> 00:28:36.560
And what do you do if somebody else has the name that you-

484
00:28:36.560 --> 00:28:39.000
So when you say a website name,

485
00:28:39.000 --> 00:28:40.800
do you mean like domain names?

486
00:28:40.800 --> 00:28:41.800
Yeah, domain name, right.

487
00:28:41.800 --> 00:28:42.760
Okay, all right.

488
00:28:42.760 --> 00:28:45.280
So we'll touch, actually, you know what?

489
00:28:45.280 --> 00:28:46.680
I'll touch base on this now,

490
00:28:46.680 --> 00:28:48.840
and then I'll see if I cover it a little bit tomorrow

491
00:28:48.840 --> 00:28:49.680
as well.

492
00:28:50.200 --> 00:28:54.040
So if you have a federal registration for your trademark,

493
00:28:54.920 --> 00:28:58.120
what you'll find is that people will immediately

494
00:28:58.120 --> 00:29:00.320
file for a domain name

495
00:29:00.320 --> 00:29:02.960
that is the same as your federally registered trademark.

496
00:29:02.960 --> 00:29:04.760
And then they will reach out to you

497
00:29:04.760 --> 00:29:08.200
and they will seek to make thousands of dollars off of you.

498
00:29:08.200 --> 00:29:10.680
That's just the way they do business, all right?

499
00:29:10.680 --> 00:29:13.560
There are companies that will literally watch

500
00:29:13.560 --> 00:29:16.840
the USPTO registry and see,

501
00:29:16.840 --> 00:29:19.040
oh, Samuel just got a trademark.

502
00:29:19.040 --> 00:29:22.160
Go buy that.com immediately.

503
00:29:22.160 --> 00:29:23.440
That's just, that's how they work.

504
00:29:23.440 --> 00:29:26.840
It's horrible, but that's what happens, okay?

505
00:29:26.840 --> 00:29:31.040
Now, there is a way around this, okay?

506
00:29:31.040 --> 00:29:32.480
It's through ICANN.

507
00:29:33.480 --> 00:29:37.600
There is a way to enforce your legal rights

508
00:29:37.600 --> 00:29:39.080
to your trademark,

509
00:29:39.080 --> 00:29:40.760
if you have a federally registered trademark,

510
00:29:40.760 --> 00:29:45.480
and the other party is using the exact same domain name

511
00:29:45.480 --> 00:29:47.000
as your trademark.

512
00:29:47.000 --> 00:29:50.200
You can actually enforce your rights against them.

513
00:29:50.200 --> 00:29:52.760
They're not allowed to do that, okay?

514
00:29:52.760 --> 00:29:54.520
And so you can use ICANN.

515
00:29:54.520 --> 00:29:56.840
I think what I'll do is I'll post a link

516
00:29:56.840 --> 00:29:58.400
in the Facebook group.

517
00:29:58.400 --> 00:30:00.200
Larissa, can you ping me on that?

518
00:30:00.000 --> 00:30:04.920
just so I don't forget, just write down ICANN reminder,

519
00:30:04.920 --> 00:30:07.000
Peter ICANN, okay?

520
00:30:07.000 --> 00:30:10.480
It's called the Domain Name Dispute Policy.

521
00:30:10.480 --> 00:30:13.960
And so you can challenge somebody registering

522
00:30:13.960 --> 00:30:16.380
a domain name that's the exact same name

523
00:30:16.380 --> 00:30:19.080
as your federally registered trademark, right?

524
00:30:19.080 --> 00:30:19.960
There's a way to do that.

525
00:30:19.960 --> 00:30:22.720
So to answer your question though,

526
00:30:23.720 --> 00:30:26.960
if I have a website, I have a domain name.

527
00:30:26.960 --> 00:30:28.640
So whatever the domain name is,

528
00:30:28.640 --> 00:30:31.480
I can actually file a federal trademark application

529
00:30:31.480 --> 00:30:32.940
for that domain name.

530
00:30:32.940 --> 00:30:35.160
Obviously you wouldn't put in the .com or anything like that.

531
00:30:35.160 --> 00:30:40.160
It's the body of the domain name itself, right?

532
00:30:40.680 --> 00:30:45.680
So if I have a website at, you know, nike.com,

533
00:30:45.700 --> 00:30:48.680
I can file a trademark for Nike, you know?

534
00:30:48.680 --> 00:30:51.820
And so now if somebody uses nike.com,

535
00:30:51.820 --> 00:30:54.680
I can go after them under their Domain Name Dispute Policy

536
00:30:54.680 --> 00:30:56.800
and say, you can't use that name.

537
00:30:56.800 --> 00:30:57.640
That's my name.

538
00:30:57.640 --> 00:30:59.440
I have a federal registration for it.

539
00:31:00.840 --> 00:31:01.680
Does that make sense?

540
00:31:01.680 --> 00:31:05.840
Sure, and under the Domain Name Dispute Policy,

541
00:31:05.840 --> 00:31:07.440
can I also, if somebody's,

542
00:31:07.440 --> 00:31:08.920
what if somebody's been using that,

543
00:31:08.920 --> 00:31:12.240
actually has been using that domain name

544
00:31:12.240 --> 00:31:15.280
that I now have registered, can I claim it?

545
00:31:16.440 --> 00:31:19.600
All right, so if there's a few factors to look at

546
00:31:19.600 --> 00:31:21.920
under the Domain Name Dispute Policy,

547
00:31:21.920 --> 00:31:24.280
they also look at whether or not they're using it

548
00:31:24.280 --> 00:31:26.800
in a manner that is not similar to you, right?

549
00:31:26.800 --> 00:31:30.760
So let's say like you own Red Door for perfume, right?

550
00:31:30.760 --> 00:31:34.080
And there's a construction company that owns Red Door.

551
00:31:34.080 --> 00:31:36.680
You know, you're getting Red Door,

552
00:31:36.680 --> 00:31:38.540
you're getting them to let go of Red Door,

553
00:31:38.540 --> 00:31:39.840
it's not gonna happen,

554
00:31:39.840 --> 00:31:41.400
because they're using it properly.

555
00:31:41.400 --> 00:31:43.080
They're using it in a different manner.

556
00:31:43.080 --> 00:31:45.520
There's no likelihood of confusion, right?

557
00:31:45.520 --> 00:31:49.120
It's, they're just using it, you know, whatever manner.

558
00:31:49.120 --> 00:31:53.000
But I've had situations where one client,

559
00:31:53.000 --> 00:31:53.920
it was pretty messed up.

560
00:31:54.560 --> 00:31:56.520
One client actually had a trademark

561
00:31:56.520 --> 00:31:58.840
associated with wallets.

562
00:31:58.840 --> 00:32:01.880
And then all of a sudden this company out in China

563
00:32:01.880 --> 00:32:04.680
purchases the exact same domain name

564
00:32:04.680 --> 00:32:07.840
and then starts marketing wallets, right?

565
00:32:07.840 --> 00:32:09.280
So we threatened to go after them

566
00:32:09.280 --> 00:32:11.560
under the Domain Name Dispute Policy.

567
00:32:11.560 --> 00:32:13.880
But instead of using the exact same name,

568
00:32:13.880 --> 00:32:16.800
they had like one more word in there.

569
00:32:16.800 --> 00:32:18.400
And so it became difficult

570
00:32:18.400 --> 00:32:20.440
because it's not the exact same name.

571
00:32:20.440 --> 00:32:22.040
So this is why I told people,

572
00:32:22.040 --> 00:32:23.640
if you come up with a new name,

573
00:32:24.600 --> 00:32:26.060
go and buy the domain name.

574
00:32:26.060 --> 00:32:28.360
Like before you even file a trademark application,

575
00:32:28.360 --> 00:32:29.600
go buy the domain name.

576
00:32:29.600 --> 00:32:30.840
See if it's available.

577
00:32:30.840 --> 00:32:31.760
Just go get it.

578
00:32:31.760 --> 00:32:33.480
Like, they're so cheap.

579
00:32:33.480 --> 00:32:34.960
Go to namecheap.com.

580
00:32:34.960 --> 00:32:35.800
Is that it?

581
00:32:35.800 --> 00:32:36.800
Cheap names or namecheap?

582
00:32:36.800 --> 00:32:37.640
Let me see.

583
00:32:37.640 --> 00:32:38.460
Cheap names.

584
00:32:38.460 --> 00:32:39.300
Cheap names?

585
00:32:39.300 --> 00:32:40.140
Yeah, let me show you guys.

586
00:32:40.140 --> 00:32:40.960
That's namecheap.com.

587
00:32:40.960 --> 00:32:41.800
No, I thought it was namecheap.

588
00:32:41.800 --> 00:32:42.620
Is it?

589
00:32:42.620 --> 00:32:43.460
Yeah.

590
00:32:44.760 --> 00:32:47.680
I own so many domain names, it's crazy.

591
00:32:47.680 --> 00:32:48.520
I think I own like 30 of them.

592
00:32:48.520 --> 00:32:50.160
He is the domain king.

593
00:32:50.560 --> 00:32:52.360
Well, Pedro Odeo owns more domain names

594
00:32:52.360 --> 00:32:53.680
than anybody I've ever heard of.

595
00:32:53.680 --> 00:32:55.440
He owns thousands.

596
00:32:55.440 --> 00:32:56.840
Let me see.

597
00:32:56.840 --> 00:32:58.000
Let me share this.

598
00:32:58.000 --> 00:33:01.240
All right, you guys should see my screen now, right?

599
00:33:01.240 --> 00:33:04.500
So this is namecheap.com, okay?

600
00:33:04.500 --> 00:33:05.760
They're so cheap.

601
00:33:05.760 --> 00:33:09.680
Look at this, six bucks for a domain name, $6.

602
00:33:10.920 --> 00:33:12.800
They're so inexpensive.

603
00:33:12.800 --> 00:33:17.440
I own kingdom.law, kingdom.law.

604
00:33:17.440 --> 00:33:19.020
That's my domain name.

605
00:33:20.640 --> 00:33:23.140
So it better say it's not available.

606
00:33:23.140 --> 00:33:23.980
So let's see.

607
00:33:25.880 --> 00:33:27.120
Yeah, see, it's not available.

608
00:33:27.120 --> 00:33:27.960
They can't find it.

609
00:33:27.960 --> 00:33:29.240
Taken, see?

610
00:33:29.240 --> 00:33:31.400
For $35,000.

611
00:33:32.640 --> 00:33:35.840
Yeah, well, I got it way cheaper than that.

612
00:33:35.840 --> 00:33:36.940
Way cheaper than that.

613
00:33:37.800 --> 00:33:38.960
But if you look at these other ones,

614
00:33:38.960 --> 00:33:43.960
like kingdom.xyz, 200,000, you know, 7,800.

615
00:33:44.240 --> 00:33:46.400
So those are like customs.

616
00:33:46.400 --> 00:33:48.760
Those are ones that everybody wants.

617
00:33:48.760 --> 00:33:51.640
And here's a premium here, 34,000.

618
00:33:51.640 --> 00:33:55.020
But if you come up with an original name

619
00:33:55.020 --> 00:33:57.360
that nobody has, then look for it.

620
00:33:57.360 --> 00:33:59.040
Now, here's something I'm gonna show you

621
00:33:59.040 --> 00:34:01.560
that probably nobody's ever told you about.

622
00:34:04.000 --> 00:34:08.040
Do not, how do I put this nicely?

623
00:34:09.159 --> 00:34:10.920
Do not search for a domain name

624
00:34:10.920 --> 00:34:14.040
unless you're gonna buy it, okay?

625
00:34:16.000 --> 00:34:17.199
Here's the reason why.

626
00:34:18.040 --> 00:34:22.560
These companies that have domain names available for sale,

627
00:34:22.560 --> 00:34:24.199
they monitor the searching.

628
00:34:25.480 --> 00:34:28.920
They don't tell you that, but they monitor the searching.

629
00:34:28.920 --> 00:34:30.199
So now when you go in there

630
00:34:30.199 --> 00:34:32.679
and you do a search for a specific name

631
00:34:32.679 --> 00:34:34.060
and you don't purchase it,

632
00:34:35.159 --> 00:34:37.179
what you'll find sometimes is the next day

633
00:34:37.179 --> 00:34:38.360
when you search for the same thing,

634
00:34:38.360 --> 00:34:43.360
the price just went up by like $2,000, $500, whatever.

635
00:34:44.360 --> 00:34:48.719
Because they see that now there's an interest in the name.

636
00:34:49.719 --> 00:34:52.520
So what you do is you determine,

637
00:34:52.520 --> 00:34:54.440
am I interested in this name or not?

638
00:34:54.440 --> 00:34:57.160
Do your trademark search, find out if it's available.

639
00:34:57.160 --> 00:35:00.060
If it is available, buy the domain name immediately.

640
00:35:00.000 --> 00:35:03.780
boom, get the.com, you know, immediately.

641
00:35:03.780 --> 00:35:06.580
All right, now you can even buy the .net, .info,

642
00:35:06.580 --> 00:35:08.140
whatever, they're so cheap.

643
00:35:08.140 --> 00:35:12.340
I mean, literally like six, $7 for many of them.

644
00:35:12.340 --> 00:35:17.340
So spend 50 bucks and buy a whole number of them, okay?

645
00:35:17.540 --> 00:35:21.000
Now you go in and you can, you know,

646
00:35:21.000 --> 00:35:22.300
you can close the deal,

647
00:35:22.300 --> 00:35:24.320
but what you don't want to do is go to their site,

648
00:35:24.320 --> 00:35:26.300
do a search and they say, okay,

649
00:35:26.300 --> 00:35:27.460
well, I think I'm interested in that.

650
00:35:27.460 --> 00:35:28.740
I'll come back tomorrow and buy it.

651
00:35:28.740 --> 00:35:31.880
Don't do that because I've heard too many times

652
00:35:31.880 --> 00:35:34.280
people come back tomorrow and the price is different.

653
00:35:34.280 --> 00:35:35.800
That doesn't mean it's going to happen to you.

654
00:35:35.800 --> 00:35:38.440
I'm just telling you what's happened to a lot of people.

655
00:35:38.440 --> 00:35:41.400
Okay, because they have search engines

656
00:35:41.400 --> 00:35:43.800
that tell them where the interest is.

657
00:35:43.800 --> 00:35:46.400
And then they increase the prices many times.

658
00:35:46.400 --> 00:35:50.080
So Connie, hello.

659
00:35:50.080 --> 00:35:50.920
Hi.

660
00:35:50.920 --> 00:35:51.760
Hi.

661
00:35:51.760 --> 00:35:56.160
I noticed after I, Tracy has a similar question,

662
00:35:56.180 --> 00:35:59.580
but I, we've owned our business for a while.

663
00:35:59.580 --> 00:36:04.420
We had one business and we were opening something

664
00:36:04.420 --> 00:36:06.260
and I have done some research,

665
00:36:06.260 --> 00:36:09.060
but that doesn't mean I really understood everything.

666
00:36:09.060 --> 00:36:12.580
So one of the things was we're publishers

667
00:36:12.580 --> 00:36:14.340
of print and digital.

668
00:36:14.340 --> 00:36:19.340
And now we're in the post-production for an audio,

669
00:36:20.220 --> 00:36:24.340
full cast, music, sound effects, all that stuff.

670
00:36:24.340 --> 00:36:29.000
So in that we created a new company

671
00:36:29.000 --> 00:36:31.720
because that was my understanding

672
00:36:31.720 --> 00:36:34.800
that I had to have another company.

673
00:36:36.280 --> 00:36:39.120
So it has its own name,

674
00:36:39.120 --> 00:36:43.000
but both of them have the first tag.

675
00:36:43.000 --> 00:36:46.240
The first, there's two names with each of them.

676
00:36:46.240 --> 00:36:51.240
And so since we're already public,

677
00:36:51.980 --> 00:36:55.340
it's Graffling Group and Graffling Resonance.

678
00:36:55.340 --> 00:36:58.780
Resonance is for the audio books.

679
00:36:58.780 --> 00:37:02.780
Did we need to make a brand new company

680
00:37:02.780 --> 00:37:07.780
or did, and we are going to do video games soon.

681
00:37:07.780 --> 00:37:09.460
So-

682
00:37:09.460 --> 00:37:10.300
Let me do this.

683
00:37:10.300 --> 00:37:12.940
Let me, what you're asking is more corporate law.

684
00:37:12.940 --> 00:37:14.180
And I know the answers,

685
00:37:14.180 --> 00:37:16.940
but I'm not going to give legal advice here.

686
00:37:16.940 --> 00:37:17.860
What I will do though,

687
00:37:17.860 --> 00:37:20.740
is I'm going to answer something that actually is,

688
00:37:21.680 --> 00:37:26.080
which is when you have multiple trademarks

689
00:37:26.080 --> 00:37:29.380
that have the same core, right?

690
00:37:29.380 --> 00:37:32.960
So as an example, Microsoft Excel, Microsoft Word,

691
00:37:32.960 --> 00:37:34.400
Microsoft PowerPoint, right?

692
00:37:34.400 --> 00:37:36.320
Those all have Microsoft.

693
00:37:36.320 --> 00:37:37.160
The question is,

694
00:37:37.160 --> 00:37:40.700
do you need to file trademark applications for all of them?

695
00:37:40.700 --> 00:37:41.540
Okay.

696
00:37:41.540 --> 00:37:42.360
I'm going to answer that

697
00:37:42.360 --> 00:37:43.540
because what you're running into

698
00:37:43.540 --> 00:37:45.800
is more of a corporate law issue.

699
00:37:45.800 --> 00:37:47.840
It's like, all right, we formed this other thing

700
00:37:47.840 --> 00:37:49.520
and now we're going to have an entity there

701
00:37:49.520 --> 00:37:50.740
that's going to deal with this.

702
00:37:50.740 --> 00:37:52.700
And now we've got another one here.

703
00:37:52.700 --> 00:37:54.080
What you need to actually check into

704
00:37:54.080 --> 00:37:56.740
is actually your original corporate formation documents

705
00:37:56.740 --> 00:37:59.460
and what do you form, you know, in your LLC.

706
00:37:59.460 --> 00:38:01.260
And you need to dig into that with an attorney

707
00:38:01.260 --> 00:38:04.020
to understand what exactly was the right way

708
00:38:04.020 --> 00:38:05.140
to create your structure.

709
00:38:05.140 --> 00:38:08.320
Because there's issues with,

710
00:38:08.320 --> 00:38:11.460
this is not legal advice, I'm just saying in general, okay?

711
00:38:11.460 --> 00:38:13.860
There are issues with, you know,

712
00:38:13.860 --> 00:38:16.940
who has controlling rights of each entity,

713
00:38:16.960 --> 00:38:20.240
who has the decision rights of each entity.

714
00:38:20.240 --> 00:38:23.040
And then is one entity licensing the name

715
00:38:23.040 --> 00:38:24.960
to the other entity?

716
00:38:24.960 --> 00:38:27.120
You know, like where's the IP?

717
00:38:27.120 --> 00:38:29.100
Who owns the IP?

718
00:38:29.100 --> 00:38:29.940
Right?

719
00:38:29.940 --> 00:38:32.480
Because you have three names that are kind of related

720
00:38:32.480 --> 00:38:34.100
to have the same core name.

721
00:38:34.100 --> 00:38:37.200
But if the first entity owns the IP,

722
00:38:37.200 --> 00:38:40.520
is the second entity taking a license from the first entity,

723
00:38:40.520 --> 00:38:43.280
you know, so that it can utilize the name or not?

724
00:38:43.280 --> 00:38:45.640
Or like, there's all sorts of complicated issues

725
00:38:45.640 --> 00:38:47.580
you want to touch base with an attorney on that.

726
00:38:47.580 --> 00:38:49.840
But let me at least address something

727
00:38:49.840 --> 00:38:53.460
that I think everybody here will appreciate.

728
00:38:53.460 --> 00:38:58.460
What if you have the same core name in multiple trademarks?

729
00:38:59.140 --> 00:39:04.140
So like Microsoft Excel, Microsoft PowerPoint,

730
00:39:04.340 --> 00:39:08.380
Microsoft Word, those are three different names.

731
00:39:08.380 --> 00:39:10.440
Now you can handle this multiple ways.

732
00:39:11.460 --> 00:39:15.420
You can file a trademark application for each one

733
00:39:16.180 --> 00:39:17.020
that's three of them.

734
00:39:17.020 --> 00:39:19.520
And your typical class for a trademark applications

735
00:39:19.520 --> 00:39:24.200
between $1,000 and like 1,500, depending on who you use.

736
00:39:24.200 --> 00:39:26.120
That's just for filing.

737
00:39:26.120 --> 00:39:27.200
Then it gets examined.

738
00:39:27.200 --> 00:39:28.800
Tomorrow we're going to talk about this in more detail,

739
00:39:28.800 --> 00:39:30.640
but it gets examined.

740
00:39:30.640 --> 00:39:32.060
You might get a rejection.

741
00:39:32.060 --> 00:39:34.120
Then you got to respond to the rejection.

742
00:39:34.120 --> 00:39:35.440
Then you'll hopefully get an allowance.

743
00:39:35.440 --> 00:39:37.360
So there's some fees along the way,

744
00:39:37.360 --> 00:39:40.180
but you're paying three times the fee, right?

745
00:39:41.600 --> 00:39:42.720
What if instead,

746
00:39:42.740 --> 00:39:45.260
since you're using Microsoft every single time,

747
00:39:46.220 --> 00:39:49.220
can you just get the trademark for Microsoft alone?

748
00:39:51.000 --> 00:39:53.260
And then just have the extra word next to it?

749
00:39:54.340 --> 00:39:57.660
The question is, do you ever use Microsoft alone?

750
00:40:00.000 --> 00:40:02.320
If you're always using that name with another name,

751
00:40:02.320 --> 00:40:05.080
then you're never really using that trademark alone.

752
00:40:05.080 --> 00:40:06.360
You're never using that word alone.

753
00:40:06.360 --> 00:40:07.600
It's always Microsoft something,

754
00:40:07.600 --> 00:40:09.380
Microsoft something, Microsoft something.

755
00:40:09.380 --> 00:40:11.620
But if you're using Microsoft with something else,

756
00:40:11.620 --> 00:40:13.560
then you can file for Microsoft alone.

757
00:40:14.600 --> 00:40:17.360
Then one thing you could do is you could,

758
00:40:17.360 --> 00:40:19.760
every single time you list Microsoft with another word,

759
00:40:19.760 --> 00:40:22.640
you could put the circle R next to the word Microsoft,

760
00:40:22.640 --> 00:40:25.740
because you own Microsoft, right?

761
00:40:26.880 --> 00:40:29.160
So what I've had a number of situations

762
00:40:29.160 --> 00:40:32.600
where clients own multiple lines,

763
00:40:32.600 --> 00:40:34.800
like multiple lines of products,

764
00:40:34.800 --> 00:40:37.520
but they're all under the same main name,

765
00:40:37.520 --> 00:40:40.960
but they don't wanna say, okay, this is the Z model.

766
00:40:40.960 --> 00:40:43.000
This is the Z100 model.

767
00:40:43.000 --> 00:40:45.800
This is the XTZ model.

768
00:40:45.800 --> 00:40:47.600
So they just own the main name.

769
00:40:48.520 --> 00:40:51.280
And then what they do is they put the name,

770
00:40:51.280 --> 00:40:52.440
then the circle R,

771
00:40:52.440 --> 00:40:55.440
then they put like whatever models after it.

772
00:40:55.440 --> 00:41:00.440
So that if anybody stole the name with the model number,

773
00:41:01.160 --> 00:41:03.400
then they would commit trademark infringement, right?

774
00:41:03.400 --> 00:41:05.400
Because they're using at least the name.

775
00:41:06.760 --> 00:41:08.640
See, that's one way to do it.

776
00:41:08.640 --> 00:41:11.120
But here's the problem.

777
00:41:11.120 --> 00:41:14.060
What if somebody uses the second name in the name?

778
00:41:15.080 --> 00:41:16.720
So what if somebody just decided to say,

779
00:41:16.720 --> 00:41:17.880
well, all right, fine.

780
00:41:17.880 --> 00:41:19.720
You wanna play that game, Peter?

781
00:41:19.720 --> 00:41:21.760
I'm not going to use Microsoft Excel.

782
00:41:21.760 --> 00:41:23.120
I'm gonna just use Excel.

783
00:41:24.120 --> 00:41:26.960
Well, now I got a problem

784
00:41:26.960 --> 00:41:29.760
because I don't own Microsoft Excel.

785
00:41:29.760 --> 00:41:33.240
I own Microsoft alone, right?

786
00:41:33.240 --> 00:41:37.520
So now I can't stop this person from using Excel alone

787
00:41:37.520 --> 00:41:38.720
because now I'm doing like this,

788
00:41:38.720 --> 00:41:40.760
this likelihood of confusion analysis.

789
00:41:40.760 --> 00:41:42.720
And so they say, well, what do you own?

790
00:41:42.720 --> 00:41:43.640
I own Microsoft.

791
00:41:43.640 --> 00:41:44.520
What are you using?

792
00:41:44.520 --> 00:41:45.960
Excel.

793
00:41:45.960 --> 00:41:48.520
Okay, they don't even look similar.

794
00:41:48.520 --> 00:41:50.960
So now it falls into a whole other body of law,

795
00:41:50.960 --> 00:41:54.040
which is the common law area that I talked to you about.

796
00:41:54.040 --> 00:41:56.520
I'm just letting you, I'm telling you this at a top level.

797
00:41:56.520 --> 00:41:58.200
This is really complex.

798
00:41:58.200 --> 00:42:00.360
I'm just letting you know that this is not simple,

799
00:42:00.360 --> 00:42:02.940
but this is how it play out, just so you know.

800
00:42:02.940 --> 00:42:05.180
So now you're using Microsoft Excel.

801
00:42:05.180 --> 00:42:06.800
They use Excel alone.

802
00:42:06.800 --> 00:42:08.440
You would go after them anyway.

803
00:42:08.440 --> 00:42:09.280
You would say, yeah,

804
00:42:09.280 --> 00:42:11.480
they're not violating my federal registration for Microsoft,

805
00:42:11.480 --> 00:42:12.840
but I'm using Excel.

806
00:42:12.840 --> 00:42:14.000
They took part of my trademark.

807
00:42:14.000 --> 00:42:15.200
They put it in theirs.

808
00:42:15.200 --> 00:42:16.960
So I may not have a federal registration

809
00:42:16.960 --> 00:42:19.280
for Microsoft Excel.

810
00:42:19.280 --> 00:42:21.160
I have a federal registration for Microsoft alone,

811
00:42:21.160 --> 00:42:22.560
but I'm using Excel as well.

812
00:42:22.560 --> 00:42:25.800
And they're taking it for the same goods.

813
00:42:25.800 --> 00:42:27.840
Under common law, I'm going to go after them.

814
00:42:27.840 --> 00:42:29.360
I don't have a federal registration.

815
00:42:29.360 --> 00:42:31.480
Under common law, I've been using it.

816
00:42:31.480 --> 00:42:32.800
I want them to stop.

817
00:42:32.800 --> 00:42:35.680
That's how you would go after them is under common law.

818
00:42:35.680 --> 00:42:36.760
But you couldn't go after them

819
00:42:36.760 --> 00:42:38.400
under your federal registration

820
00:42:38.400 --> 00:42:41.040
because your federal registration is only for Microsoft.

821
00:42:41.040 --> 00:42:42.800
You see how complicated this is?

822
00:42:42.800 --> 00:42:45.800
Like this isn't like very simple stuff.

823
00:42:45.800 --> 00:42:48.120
This is why what I tell people is,

824
00:42:48.120 --> 00:42:49.960
if you have a name that you're using,

825
00:42:51.120 --> 00:42:53.200
get a federal registration for it.

826
00:42:53.200 --> 00:42:54.480
Own the domain name.

827
00:42:54.480 --> 00:42:56.240
Very simple things to do, right?

828
00:42:56.240 --> 00:42:57.920
Do your trademark search.

829
00:42:57.920 --> 00:43:00.640
Now, if you have multiple names that you're using

830
00:43:00.640 --> 00:43:04.920
and you can't afford to file trademarks on each one,

831
00:43:04.920 --> 00:43:07.560
then make sure you're using that core name alone

832
00:43:07.560 --> 00:43:09.400
at least once.

833
00:43:09.400 --> 00:43:11.640
If you are, then every time you're using that name

834
00:43:11.640 --> 00:43:12.880
with something else,

835
00:43:13.760 --> 00:43:16.760
put that circle R after the name alone.

836
00:43:16.760 --> 00:43:18.880
Not after the whole thing

837
00:43:18.880 --> 00:43:20.000
because you don't own the whole thing.

838
00:43:20.000 --> 00:43:22.760
You only own that little part, right?

839
00:43:22.760 --> 00:43:25.000
But just know that when it comes time

840
00:43:25.000 --> 00:43:26.320
to renewing your trademark,

841
00:43:26.320 --> 00:43:27.240
and they're going to ask you

842
00:43:27.240 --> 00:43:29.200
to send what's called a specimen,

843
00:43:29.200 --> 00:43:31.760
proof of use of your trademark in interstate commerce.

844
00:43:31.760 --> 00:43:33.840
They're going to ask for a picture of it.

845
00:43:33.840 --> 00:43:35.080
When they ask you for that picture,

846
00:43:35.080 --> 00:43:36.880
you're likely not going to be able to use

847
00:43:36.880 --> 00:43:40.040
that picture of Microsoft Excel

848
00:43:40.040 --> 00:43:42.040
because you're not using it alone.

849
00:43:42.040 --> 00:43:43.720
You can try.

850
00:43:43.720 --> 00:43:44.760
Sometimes it'll work.

851
00:43:44.760 --> 00:43:46.520
Sometimes an examiner will be nice.

852
00:43:47.280 --> 00:43:49.040
And say, all right, fine, we'll allow that.

853
00:43:49.040 --> 00:43:50.120
But sometimes they're not.

854
00:43:50.120 --> 00:43:52.360
Sometimes they're going to say, well, no,

855
00:43:52.360 --> 00:43:53.520
you own Microsoft.

856
00:43:53.520 --> 00:43:55.200
That's your federal registration.

857
00:43:55.200 --> 00:43:58.320
Show me an example of use of Microsoft alone.

858
00:43:58.320 --> 00:43:59.600
So you got to make sure you're using it

859
00:43:59.600 --> 00:44:01.240
at least once alone.

860
00:44:02.520 --> 00:44:03.560
Does this all make sense?

861
00:44:03.560 --> 00:44:06.640
It's tricky, but these are tricks to the trade

862
00:44:06.640 --> 00:44:11.640
that you can use to make sure that your company is strong,

863
00:44:12.200 --> 00:44:14.280
that people don't use your names

864
00:44:14.280 --> 00:44:15.720
and that you're successful.

865
00:44:16.720 --> 00:44:18.960
Without spending a ridiculous amount of money,

866
00:44:19.960 --> 00:44:22.480
because you may have five or six different brands

867
00:44:22.480 --> 00:44:23.560
using that same name.

868
00:44:24.440 --> 00:44:29.280
So take that main name, use that main name for your sales,

869
00:44:29.280 --> 00:44:30.960
but then you have different brands.

870
00:44:30.960 --> 00:44:33.680
You can list those and then use that circle R

871
00:44:33.680 --> 00:44:36.920
after the main name in the bigger name, right?

872
00:44:36.920 --> 00:44:39.720
So it's telling the public, I own this main name part.

873
00:44:40.720 --> 00:44:42.360
So now if you run into problems,

874
00:44:42.400 --> 00:44:44.280
you may not be able to stop them

875
00:44:44.280 --> 00:44:47.520
under federal trademark law.

876
00:44:47.520 --> 00:44:50.120
You may have to go after them under common law.

877
00:44:50.120 --> 00:44:51.000
It's a way to do that.

878
00:44:51.000 --> 00:44:51.880
Talk to your lawyers.

879
00:44:51.880 --> 00:44:54.000
The lawyers should know this.

880
00:44:54.000 --> 00:44:56.360
If they don't know it, get another lawyer

881
00:44:56.360 --> 00:44:57.800
because they should know this stuff.

882
00:44:57.800 --> 00:44:59.920
So Tracy.

883
00:45:00.000 --> 00:45:00.840
Go ahead.

884
00:45:04.440 --> 00:45:06.140
You got on mute, you got on mute.

885
00:45:07.240 --> 00:45:09.520
Hi, yeah, sorry, thank you.

886
00:45:09.520 --> 00:45:14.520
Well, I hate to, let me ask,

887
00:45:15.800 --> 00:45:17.160
the person that just spoke,

888
00:45:17.160 --> 00:45:18.960
I think she was referring to my question

889
00:45:18.960 --> 00:45:20.520
when she says it was related.

890
00:45:20.520 --> 00:45:25.360
So I'm soon to get into the film business.

891
00:45:25.360 --> 00:45:27.080
I'm actually writing a book first

892
00:45:27.080 --> 00:45:30.320
and I don't know if there's something

893
00:45:30.320 --> 00:45:32.960
that you can tell me about that,

894
00:45:32.960 --> 00:45:37.480
associating it with future getting into the film business

895
00:45:37.480 --> 00:45:39.640
within one to three years.

896
00:45:41.200 --> 00:45:43.960
And my question originally was,

897
00:45:44.840 --> 00:45:48.180
I've always had an idea that I would have an umbrella,

898
00:45:48.180 --> 00:45:50.160
this is probably what you were trying to refer to,

899
00:45:50.160 --> 00:45:52.800
but an umbrella LLC.

900
00:45:52.800 --> 00:45:53.720
You got it.

901
00:45:53.720 --> 00:45:54.920
And then underneath,

902
00:45:54.920 --> 00:45:57.400
I've always felt that I would have

903
00:45:57.400 --> 00:45:59.200
a for-profit film company,

904
00:45:59.200 --> 00:46:03.880
a nonprofit film company where I could do documentaries

905
00:46:03.880 --> 00:46:07.320
and certain things for the public.

906
00:46:07.320 --> 00:46:12.320
And then a recording company, what?

907
00:46:13.600 --> 00:46:15.880
They're almost like subsidiaries, yeah.

908
00:46:15.880 --> 00:46:18.200
Oh, okay, see, this is where, yeah.

909
00:46:18.200 --> 00:46:19.560
That's okay, that's okay.

910
00:46:19.560 --> 00:46:23.920
And so anyway, yeah, that was my question.

911
00:46:23.920 --> 00:46:26.760
And then I had another one, another smaller,

912
00:46:26.760 --> 00:46:29.080
but very key foundational question

913
00:46:29.080 --> 00:46:30.760
that I'm getting a little confused about.

914
00:46:30.760 --> 00:46:32.280
So go ahead.

915
00:46:32.280 --> 00:46:35.240
Yeah, so let's start out with your question about,

916
00:46:35.240 --> 00:46:37.280
you're an author, right?

917
00:46:37.280 --> 00:46:38.560
You're writing a book.

918
00:46:38.560 --> 00:46:40.560
And then somebody is gonna take that

919
00:46:40.560 --> 00:46:43.440
and they're going to use it in a movie, okay?

920
00:46:43.440 --> 00:46:44.280
All right, let's-

921
00:46:44.280 --> 00:46:46.360
Well, I'll probably be doing a movie apparently,

922
00:46:46.360 --> 00:46:48.880
I'm told about it, but whatever, anyway, yeah.

923
00:46:48.880 --> 00:46:50.680
Are you doing the movie or is somebody else doing the movie?

924
00:46:50.680 --> 00:46:52.280
Well, I probably will.

925
00:46:52.280 --> 00:46:55.680
I have other movies I'm gonna be doing first, I think, but.

926
00:46:57.000 --> 00:46:58.280
All right, the reason why I'm asking you that

927
00:46:58.280 --> 00:46:59.520
is because when we get to day three,

928
00:46:59.520 --> 00:47:01.600
we're gonna talk about copyrights.

929
00:47:01.600 --> 00:47:02.680
Okay.

930
00:47:02.680 --> 00:47:04.160
And under copyright law,

931
00:47:04.160 --> 00:47:05.720
the author of the book

932
00:47:05.720 --> 00:47:08.080
owns all rights, title and interest to the book.

933
00:47:08.080 --> 00:47:10.920
If somebody creates another work off of the original work,

934
00:47:10.920 --> 00:47:12.600
that's called a derivative.

935
00:47:12.600 --> 00:47:13.440
Okay.

936
00:47:13.440 --> 00:47:15.840
The only person who has rights to deal with the derivative

937
00:47:15.840 --> 00:47:19.000
is the original author, that's it.

938
00:47:19.240 --> 00:47:24.240
So if you are going to ask a production studio to create,

939
00:47:26.320 --> 00:47:30.000
like I have a client right now, Kingdom Warriors, right?

940
00:47:30.000 --> 00:47:34.680
They're doing all this work associated with books

941
00:47:34.680 --> 00:47:37.560
and movies and all sorts of deals, right?

942
00:47:37.560 --> 00:47:41.080
So there's the rights to the original book

943
00:47:41.080 --> 00:47:44.520
that belong to the original drafter of the book,

944
00:47:44.520 --> 00:47:47.560
but then there's rights that are associated with a movie.

945
00:47:47.600 --> 00:47:50.280
Well, they can't take the book and turn it into a movie,

946
00:47:50.280 --> 00:47:52.280
just deciding to do it.

947
00:47:52.280 --> 00:47:55.880
The original creator of the work owns that.

948
00:47:55.880 --> 00:47:58.560
So if somebody wants to render that into a movie,

949
00:47:58.560 --> 00:48:01.400
they have to get rights from the original,

950
00:48:01.400 --> 00:48:04.000
the original creator of the author, right?

951
00:48:04.000 --> 00:48:05.680
That little piece I do know, yeah.

952
00:48:05.680 --> 00:48:06.720
That's the first part.

953
00:48:06.720 --> 00:48:09.840
The first part for you to figure out is,

954
00:48:09.840 --> 00:48:10.680
am I doing the movie?

955
00:48:10.680 --> 00:48:12.320
If you're doing the movie, then none is the problem

956
00:48:12.320 --> 00:48:14.760
because you're not gonna sue yourself, right?

957
00:48:14.760 --> 00:48:15.880
You can license to yourself.

958
00:48:15.880 --> 00:48:16.960
I hope not.

959
00:48:17.160 --> 00:48:19.920
Unless you have some serious split personality issue,

960
00:48:19.920 --> 00:48:21.960
I'm not too worried about this.

961
00:48:21.960 --> 00:48:24.480
In which case, I'd like to film that conversation.

962
00:48:24.480 --> 00:48:26.840
But in any case, separate from that,

963
00:48:28.400 --> 00:48:30.480
separate from that, I think you're okay.

964
00:48:30.480 --> 00:48:32.440
But the point being that,

965
00:48:33.600 --> 00:48:35.440
remember that the drafter of the book

966
00:48:36.600 --> 00:48:38.680
owns all rights that are an interest to the book.

967
00:48:38.680 --> 00:48:40.240
The person who's doing the movie

968
00:48:40.240 --> 00:48:43.200
has to get rights from the drafter of the book.

969
00:48:43.200 --> 00:48:44.560
So they have to license over

970
00:48:44.560 --> 00:48:47.200
if you're going to hire somebody else to do it, okay?

971
00:48:47.200 --> 00:48:49.120
All right, so that's part one.

972
00:48:49.120 --> 00:48:51.000
But separate from that,

973
00:48:51.000 --> 00:48:52.520
you're talking about your main entity

974
00:48:52.520 --> 00:48:53.920
and then you have these subsidiaries

975
00:48:53.920 --> 00:48:55.880
that are doing different things, right?

976
00:48:55.880 --> 00:48:59.840
So what you wanna do is similar to what I was discussing

977
00:48:59.840 --> 00:49:02.840
just when I was answering the prior question for Connie.

978
00:49:04.000 --> 00:49:06.240
You wanna speak to a corporate law attorney

979
00:49:06.240 --> 00:49:09.240
to make sure that the way the formation

980
00:49:09.240 --> 00:49:11.120
of each of these entities and the licensing

981
00:49:11.120 --> 00:49:13.840
that's being done between the entities is done well.

982
00:49:13.840 --> 00:49:15.120
It's done the right way.

983
00:49:16.120 --> 00:49:17.440
Let me explain to you why.

984
00:49:18.320 --> 00:49:21.800
Intellectual property, patents, trademarks, copyrights,

985
00:49:21.800 --> 00:49:24.760
those are called intellectual property, right?

986
00:49:24.760 --> 00:49:28.520
They have value, okay?

987
00:49:28.520 --> 00:49:31.120
So all the money that you're spending on trademarks,

988
00:49:31.120 --> 00:49:34.600
copyrights, patents, all of those things,

989
00:49:35.480 --> 00:49:39.960
those all fall under what's called intangible assets.

990
00:49:39.960 --> 00:49:42.880
All right, so it's a business expense.

991
00:49:42.920 --> 00:49:44.080
Those are all business expenses.

992
00:49:44.080 --> 00:49:46.120
So you need to be talking to your accountants,

993
00:49:46.120 --> 00:49:48.920
your tax attorneys and saying,

994
00:49:48.920 --> 00:49:52.720
I spent X amount of dollars

995
00:49:52.720 --> 00:49:55.120
getting my trademarks for my company.

996
00:49:55.120 --> 00:49:56.560
That's an intangible asset.

997
00:49:56.560 --> 00:49:57.680
That's a business expense.

998
00:49:57.680 --> 00:50:00.240
That should be taxed at this level, not this level.

999
00:50:00.000 --> 00:50:04.960
like, and I should be getting a write off for this, like you, you need to talk to your,

1000
00:50:04.960 --> 00:50:09.840
you know, understand these things. What happens is most people just create a company to start

1001
00:50:09.840 --> 00:50:15.040
doing things, they spend 30, 40, $50,000 in something, they don't realize that that's a

1002
00:50:15.040 --> 00:50:20.480
business expense. You know, they don't realize it's an intangible asset, it's actually considered

1003
00:50:20.480 --> 00:50:25.280
as an asset, it has a depreciation, it has, there's different values associated with it.

1004
00:50:25.280 --> 00:50:31.200
So the big question is, which of your entities do you want to own the asset?

1005
00:50:32.640 --> 00:50:39.360
That's a big deal. All right. The reason why is because you might have one entity formed in the

1006
00:50:39.360 --> 00:50:46.400
United Kingdom, or another entity formed in Washington, DC, they have different tax brackets.

1007
00:50:47.920 --> 00:50:54.560
One's taxed at 25%. One's taxed at a much higher rate. So you want to figure out which of your

1008
00:50:54.560 --> 00:51:01.360
entities should own your intellectual property. All right. Once you figure that out, then you

1009
00:51:01.360 --> 00:51:08.400
assign all right title and interest to that entity. Now what happens is all those expenses

1010
00:51:08.400 --> 00:51:14.000
are coming at a lower bracket. And now you're, you're, you're working within the tax system,

1011
00:51:14.000 --> 00:51:19.360
like you're, and then on top of that, you want everything assigned over to an entity because

1012
00:51:19.360 --> 00:51:24.320
you don't want to personally get sued for certain things, right. So if you have all right title and

1013
00:51:24.320 --> 00:51:29.360
interest to your intellectual property assigned over to an entity, your chances of getting sued

1014
00:51:29.360 --> 00:51:33.760
personally are lower. I'm not going to tell you that it's not going to happen because I've

1015
00:51:33.760 --> 00:51:39.120
personally sued corporations and the presidents of their companies. And then the other side has

1016
00:51:39.120 --> 00:51:45.440
to file all sorts of documents trying to get them out saying, you know, Mr. Lee is not, he's not

1017
00:51:45.440 --> 00:51:51.440
associated with, you know, the patent. And I said, Oh, really? Then why is Mr. Lee listed as the

1018
00:51:51.440 --> 00:51:59.520
inventor? Oh, um, we, uh, well, um, yeah, exactly. I'll see Mr. Lee in court. Bye. So, you know, it's,

1019
00:51:59.520 --> 00:52:05.840
you want to make sure that, uh, of the, the assets for assigned to the right entity. This is why you

1020
00:52:05.840 --> 00:52:11.360
need a corporate law attorney and an IP law attorney to kind of work together because you

1021
00:52:11.360 --> 00:52:18.800
have a more detailed structure, right? It's, it's not, it's not as simple as I'm Peter Nieves. I

1022
00:52:18.800 --> 00:52:24.880
have this name. I file under that. I assigned it to my company. Done. It's like, no, you have

1023
00:52:24.880 --> 00:52:31.360
entities, sub subsidiaries, you know, you may have certain rights for different entities that you

1024
00:52:31.360 --> 00:52:37.520
personally hold on. So as let me add one more thing here, because this is important to everybody

1025
00:52:37.520 --> 00:52:43.520
here. We're going really deep. You guys are not like, you guys are not Kool-Aid. Like you guys

1026
00:52:43.520 --> 00:52:49.600
are really deep. I'm just saying, cause usually this is day four. You guys are like day one,

1027
00:52:49.600 --> 00:52:55.760
like in the deep end. Uh, I'm impressed. I'm very impressed. Um, and this is why I like doing this.

1028
00:52:55.760 --> 00:53:04.000
So, okay. If in fact you own all right, title and interest in the, let's say there's company a,

1029
00:53:04.720 --> 00:53:12.880
then there's subsidiaries B, C, and D. All right. Now you, as the president of company,

1030
00:53:13.600 --> 00:53:21.360
let's say a have the right to make decisions on behalf of company a right. Okay. But you assign

1031
00:53:21.360 --> 00:53:30.480
all right. Title and interest over to entity C. Okay. But entity C, you don't have all right.

1032
00:53:30.480 --> 00:53:35.360
You don't have the power to make decisions on behalf of entity C because you have a different

1033
00:53:35.360 --> 00:53:38.720
board or you have a different, whatever the case is. I don't know what your structure is. I'm just

1034
00:53:38.720 --> 00:53:43.440
using this as an example. So you assign all right, title and interest over to entity C.

1035
00:53:45.040 --> 00:53:49.040
I thought you said entity A. Wait a minute. So you're talking about the same entity.

1036
00:53:49.040 --> 00:53:53.520
Okay. Right. So let's say there's entity C, there's entity C, but then there's entities B,

1037
00:53:53.520 --> 00:53:58.800
C, and D. Okay. So here's the main company and then there's B, C, and D. Got it.

1038
00:53:58.800 --> 00:54:02.160
Okay. All right. So just use that as an example. All right. Yeah. This is,

1039
00:54:02.160 --> 00:54:09.280
this is like stuff I deal with like every day. It's this. Okay. Yeah. So now Tracy says, you

1040
00:54:09.280 --> 00:54:15.200
know what? The writing portion and the movie portion is really associated with entity C,

1041
00:54:15.920 --> 00:54:20.080
right? That's the entity that's doing that. So we're going to sign all right. Title and interest

1042
00:54:20.080 --> 00:54:25.040
to that within entity C. We're going to keep it at entity C, right? Let's say that's the decision

1043
00:54:25.360 --> 00:54:32.800
she made, but she has the rights to make decision in entity A, but when it came to the formation of

1044
00:54:32.800 --> 00:54:42.160
entity C, Max and Axel and Tracy have all the rights to make the decision on behalf of entity

1045
00:54:42.160 --> 00:54:49.840
C. So now Tracy says, man, you know, this has been going really well. I want to make a series.

1046
00:54:49.840 --> 00:54:54.000
You know, there's a movie there's been a, there's been a, a book. I want to make a series out of

1047
00:54:54.000 --> 00:54:59.840
this. And so Tracy says, okay, I'm going to go call up this production studio, blah, blah, blah.

1048
00:55:00.000 --> 00:55:04.000
All of a sudden, I'm sorry, I shouldn't have used it.

1049
00:55:04.000 --> 00:55:06.640
I did. I did follow you, though. I know it. Yeah, yeah, yeah.

1050
00:55:06.640 --> 00:55:09.560
I should have said because Tracy Lovings here and Tracy, you know,

1051
00:55:09.560 --> 00:55:10.320
Oh, right.

1052
00:55:10.320 --> 00:55:12.000
is here, so that doesn't work.

1053
00:55:12.000 --> 00:55:18.040
But the point being that you may not have the rights to make decisions on behalf of Entity C.

1054
00:55:18.040 --> 00:55:24.760
So you have to make sure whatever entity you assign a right title or an interest in the intellectual property to,

1055
00:55:24.760 --> 00:55:27.800
you maintain the decision making rights.

1056
00:55:27.800 --> 00:55:28.920
OK, good. Yes.

1057
00:55:28.920 --> 00:55:31.240
People do this wrong all the time.

1058
00:55:31.240 --> 00:55:33.320
So they have entities, sub entities.

1059
00:55:33.320 --> 00:55:35.840
They have like three or four different entities.

1060
00:55:35.840 --> 00:55:39.960
And then they have the control rights to this one.

1061
00:55:39.960 --> 00:55:44.440
But then they want to do something with an asset that belongs to that one.

1062
00:55:44.440 --> 00:55:47.640
But they don't have the right. They don't have the control rights there.

1063
00:55:47.640 --> 00:55:49.280
But they assigned all right title and interest.

1064
00:55:49.280 --> 00:55:51.800
So now they get mad and they're like, hold it.

1065
00:55:51.800 --> 00:55:54.000
I want to I want to make a series.

1066
00:55:54.000 --> 00:55:57.560
And the board says we don't want to make a series.

1067
00:55:57.560 --> 00:56:00.720
And you say, I don't care, board, that you don't want to make a series.

1068
00:56:00.720 --> 00:56:02.920
I created this. This is my entity.

1069
00:56:02.920 --> 00:56:06.440
This is what they're like. Nope, I don't think so.

1070
00:56:06.440 --> 00:56:15.080
You assigned all right title and interest to Entity C. Entity C, their board has the right to make decisions, not you.

1071
00:56:15.080 --> 00:56:19.920
So then what happens is you get mad and you say, well, fine, I'm going to transfer the rights back.

1072
00:56:19.920 --> 00:56:22.120
Well, you just committed fraud.

1073
00:56:22.120 --> 00:56:25.800
You just committed something that is not on behalf of the company.

1074
00:56:25.800 --> 00:56:26.680
It's not fraud.

1075
00:56:26.680 --> 00:56:32.200
You committed an act that is against the the better of the company.

1076
00:56:32.200 --> 00:56:39.360
And so now you're committing like you're doing big problems, big, big legal issues.

1077
00:56:39.360 --> 00:56:47.600
I'm saying all this for one reason. Figure out where you want the IP rights to sit first.

1078
00:56:47.600 --> 00:56:53.240
And then if you want to maintain control of what happens with those assets,

1079
00:56:53.240 --> 00:56:59.120
you better make sure that you're you have the controlling like portion of that entity.

1080
00:56:59.120 --> 00:57:04.800
Either if it's for a board, you better make sure you have the decision rights for the board.

1081
00:57:04.800 --> 00:57:08.400
Or if it's in a partnership, you better make sure you own 51 percent.

1082
00:57:08.400 --> 00:57:17.680
Whatever the case is, you want to continue to make the decisions on behalf of these assets, these chairs that are in the house.

1083
00:57:17.680 --> 00:57:22.880
And you better own the house. You can't just say, hey, I gave this house to my daughter.

1084
00:57:22.880 --> 00:57:26.200
Now I'm going to go in and take the chairs out. No, you gave the chairs to your daughter.

1085
00:57:26.200 --> 00:57:34.000
They're hers now. OK, that's what I just walked you through is litigation.

1086
00:57:34.000 --> 00:57:39.760
That's where a lot of litigation happens. And so if you heed what I just told you,

1087
00:57:39.760 --> 00:57:45.400
you will bypass a tremendous amount of litigation with partners and businesses,

1088
00:57:45.400 --> 00:57:52.760
with ownerships of IP, with all sorts of things, I mean, issues that are very painful.

1089
00:57:52.760 --> 00:57:57.240
So just, you know, I know it was complicated. Go back and watch the video.

1090
00:57:57.240 --> 00:58:02.200
It'll be there. Yeah. Well, to remember when I'm actually doing it in the near future.

1091
00:58:02.200 --> 00:58:06.400
Yeah. But I know I tracked with you. Thank you. That makes perfect sense to me.

1092
00:58:06.400 --> 00:58:09.600
Yeah. I'm going to take one more, Sandy, and then we're going to close for today.

1093
00:58:09.600 --> 00:58:12.800
Obviously, just remember, we've got four more days of this, guys.

1094
00:58:12.800 --> 00:58:17.120
You guys are like already in the ocean. I thought we were going to be in the kiddie pool.

1095
00:58:17.120 --> 00:58:20.160
You guys are like in the ocean, like surfing right now.

1096
00:58:20.160 --> 00:58:24.120
And so that's awesome. Like, bring it. I'll answer anything. I don't care.

1097
00:58:24.120 --> 00:58:28.120
OK, I want to go ahead, Sandy. I appreciate this last conversation.

1098
00:58:28.120 --> 00:58:32.920
I heard you talk to Krista Dunk. So I got the copy. My copyright on my book is pending.

1099
00:58:32.920 --> 00:58:36.600
Very smart. Yes. Well done. Well done.

1100
00:58:36.600 --> 00:58:41.000
So here's my understanding of what you're saying as a structure and entity.

1101
00:58:41.000 --> 00:58:45.120
Let me see if I got this correctly, because I'm going to have a profit center.

1102
00:58:45.120 --> 00:58:49.760
I'm also going to create like a membership site, like a movement.

1103
00:58:49.760 --> 00:58:55.680
But then I also have my book, my book writing. So do I create a main business name?

1104
00:58:55.680 --> 00:59:00.920
And under that are these entities like profit center movement authoring?

1105
00:59:00.920 --> 00:59:05.400
Is that what I do? Great question. All right. So.

1106
00:59:05.400 --> 00:59:09.160
I'm going to tell you what. People typically do.

1107
00:59:09.160 --> 00:59:11.280
You have to determine what you're going to do for yourself, right?

1108
00:59:11.280 --> 00:59:14.560
Because I can't tell you what to do here. Right.

1109
00:59:14.560 --> 00:59:19.400
Only, you know, and this is why you should sit down with an attorney and kind of walk through.

1110
00:59:19.400 --> 00:59:22.480
This is what I'm doing. These are the different entities. These are different assets.

1111
00:59:22.480 --> 00:59:28.560
I want to like figure out what goes where. But here's here's what a lot of people do is.

1112
00:59:28.560 --> 00:59:32.520
When they're looking at like entities, when they're looking at forming different entities,

1113
00:59:32.520 --> 00:59:39.240
when it comes to intellectual property, they typically put the IP in the company

1114
00:59:39.240 --> 00:59:47.800
that is going to have the lower tax bracket and where they're not going to have a lot of potential liability.

1115
00:59:47.800 --> 00:59:54.720
Right. So like so it's like all the value of the company is in a right.

1116
00:59:54.720 --> 00:59:58.480
And so but a doesn't really make the product.

1117
00:59:58.480 --> 01:00:00.080
You know, the product's only made by.

1118
01:00:00.000 --> 01:00:01.920
by entity B, right?

1119
01:00:01.920 --> 01:00:03.320
This specific product.

1120
01:00:03.320 --> 01:00:05.080
So what they might do is like the patents

1121
01:00:05.080 --> 01:00:06.760
associated with trademarks, copyrights,

1122
01:00:06.760 --> 01:00:09.160
they might put it into B only, right?

1123
01:00:09.160 --> 01:00:10.760
They might not put it in the main company

1124
01:00:10.760 --> 01:00:13.520
because what they don't want is for somebody

1125
01:00:13.520 --> 01:00:15.560
to sue the main company.

1126
01:00:15.560 --> 01:00:17.720
The main company is worth millions, billions, right?

1127
01:00:17.720 --> 01:00:19.560
They don't want somebody getting at that.

1128
01:00:19.560 --> 01:00:20.480
So they're like, all right,

1129
01:00:20.480 --> 01:00:22.120
well, I'm gonna put it in this little entity here.

1130
01:00:22.120 --> 01:00:23.400
That's where the product is.

1131
01:00:23.400 --> 01:00:25.160
That's what a service is.

1132
01:00:25.160 --> 01:00:27.200
You know, if in fact there's some liability,

1133
01:00:27.920 --> 01:00:32.920
then hopefully only the assets in B are gonna get hit.

1134
01:00:33.200 --> 01:00:35.200
Hopefully they can't get to A.

1135
01:00:35.200 --> 01:00:37.520
Matter of fact, I was just in a lawsuit

1136
01:00:37.520 --> 01:00:42.520
where somebody sued, it was a troll.

1137
01:00:43.800 --> 01:00:45.640
I don't know if you ever heard of this term, right?

1138
01:00:45.640 --> 01:00:49.040
In patent law, there's these things called trolls, okay?

1139
01:00:49.040 --> 01:00:52.280
And what they do is they buy up patents

1140
01:00:52.280 --> 01:00:55.200
and they enforce them against people, all right?

1141
01:00:55.200 --> 01:00:56.320
They don't make anything.

1142
01:00:56.320 --> 01:00:57.320
They don't do anything.

1143
01:00:57.320 --> 01:01:00.480
All they do, some of them are lawyers that were,

1144
01:01:00.480 --> 01:01:03.240
I think it's really disturbing personally.

1145
01:01:03.240 --> 01:01:05.960
And fortunately, I've been up against trolls four times

1146
01:01:05.960 --> 01:01:07.480
and I've won four times.

1147
01:01:07.480 --> 01:01:09.000
So like, I love that.

1148
01:01:09.000 --> 01:01:10.720
Like, I'll actually brag about that.

1149
01:01:10.720 --> 01:01:13.880
Go God, like, I'm like, we have destroyed trolls.

1150
01:01:13.880 --> 01:01:17.040
But anyways, the point is that they buy up patents

1151
01:01:17.040 --> 01:01:20.160
and then they go find people and they sue them, right?

1152
01:01:20.160 --> 01:01:21.800
Just to make money.

1153
01:01:21.800 --> 01:01:22.760
And then they say, all right,

1154
01:01:22.760 --> 01:01:26.000
well, I'll settle the lawsuit for 150,000

1155
01:01:26.680 --> 01:01:28.720
because the party doesn't wanna spend 3 million

1156
01:01:28.720 --> 01:01:32.560
in litigation, they'll pay 150,000, right?

1157
01:01:32.560 --> 01:01:36.080
So a troll went after my client recently,

1158
01:01:36.080 --> 01:01:37.880
but here's what they did.

1159
01:01:37.880 --> 01:01:42.040
They sued my client, which was a monster, right?

1160
01:01:42.040 --> 01:01:47.040
Well, we cleverly put the product in this entity here, right?

1161
01:01:48.560 --> 01:01:51.760
And only that entity, which was in another country,

1162
01:01:51.760 --> 01:01:53.880
produced it and sold it.

1163
01:01:53.920 --> 01:01:56.840
And the profits stayed within that entity.

1164
01:01:56.840 --> 01:02:01.440
And they weren't much, Sandy, like they were very low.

1165
01:02:01.440 --> 01:02:03.880
So they sued the big monstrous entity.

1166
01:02:04.760 --> 01:02:06.320
And I responded to them.

1167
01:02:06.320 --> 01:02:08.160
I called up opposing counsel and I said,

1168
01:02:08.160 --> 01:02:10.440
you can sue us all day long, you're not getting anything.

1169
01:02:10.440 --> 01:02:11.280
And he said, of course we're,

1170
01:02:11.280 --> 01:02:12.920
you guys are worth X billion dollars.

1171
01:02:12.920 --> 01:02:14.400
I was like, yeah, you might wanna look

1172
01:02:14.400 --> 01:02:16.600
and see where the product's produced.

1173
01:02:16.600 --> 01:02:20.400
So then he looked into it and he saw that this entity

1174
01:02:20.400 --> 01:02:21.640
that was in this foreign country,

1175
01:02:21.640 --> 01:02:24.360
number one, he had the wrong entity that he sued.

1176
01:02:24.360 --> 01:02:26.880
So I could have the case basically dismissed

1177
01:02:26.880 --> 01:02:29.080
because he sued the wrong party.

1178
01:02:29.080 --> 01:02:32.000
He would have to file documents to change the party.

1179
01:02:32.000 --> 01:02:36.880
But then B, the damages associated with were so low.

1180
01:02:36.880 --> 01:02:37.840
So what happened?

1181
01:02:37.840 --> 01:02:39.440
He just disappeared.

1182
01:02:39.440 --> 01:02:40.840
Case was dismissed.

1183
01:02:40.840 --> 01:02:43.000
He filed documents to get rid of the case.

1184
01:02:43.000 --> 01:02:47.360
So in your case, you may have like a main company

1185
01:02:47.360 --> 01:02:49.680
and then you may have a publishing company in there

1186
01:02:49.680 --> 01:02:52.440
and you might have a product development company

1187
01:02:52.440 --> 01:02:53.560
in there, right?

1188
01:02:53.560 --> 01:02:56.360
And so you have like essentially the mothership

1189
01:02:56.360 --> 01:02:57.960
and then two other entities.

1190
01:02:59.240 --> 01:03:01.280
This is where a good lawyer is gonna be important.

1191
01:03:01.280 --> 01:03:04.360
Somebody who understands corporate law and understands IP

1192
01:03:04.360 --> 01:03:06.520
because what you wanna do is determine

1193
01:03:06.520 --> 01:03:08.480
for each of those entities,

1194
01:03:08.480 --> 01:03:12.200
where it's formed is gonna affect the taxes.

1195
01:03:13.040 --> 01:03:15.360
Separate from that, you wanna look and see

1196
01:03:15.360 --> 01:03:18.480
where do I want those assets to stay?

1197
01:03:19.440 --> 01:03:23.640
Is the manufacturing and production being done by entity A?

1198
01:03:23.640 --> 01:03:27.800
If it is, it may be a little hard to put all the rights

1199
01:03:27.800 --> 01:03:30.360
in company C and then not make company A liable

1200
01:03:30.360 --> 01:03:33.320
because company A is the one that's making the product.

1201
01:03:33.320 --> 01:03:37.360
So you gotta bring your scenario to an attorney

1202
01:03:37.360 --> 01:03:40.480
and say, I have a writing portion.

1203
01:03:40.480 --> 01:03:41.920
I have a movie portion

1204
01:03:41.920 --> 01:03:43.920
or I have a production portion, right?

1205
01:03:43.920 --> 01:03:45.640
Whatever it is.

1206
01:03:45.640 --> 01:03:47.360
Should I make two entities?

1207
01:03:47.360 --> 01:03:50.840
Should I make three entities or should I stick with one?

1208
01:03:50.840 --> 01:03:53.400
Because look, not everybody decides

1209
01:03:53.400 --> 01:03:54.480
to create different entities.

1210
01:03:54.480 --> 01:03:57.240
Somebody has just created a different brand.

1211
01:03:57.240 --> 01:03:59.440
You don't need another entity all the time.

1212
01:04:00.560 --> 01:04:03.920
Like you have to determine in your specific scenario,

1213
01:04:03.920 --> 01:04:06.560
does it make sense to create another entity?

1214
01:04:07.800 --> 01:04:09.400
All right?

1215
01:04:09.400 --> 01:04:11.240
A lot of times what people do is they say,

1216
01:04:11.240 --> 01:04:13.600
well, this entity has got products.

1217
01:04:13.600 --> 01:04:18.120
This entity is doing like coaching, right?

1218
01:04:18.120 --> 01:04:20.520
It's like, well, maybe you could just have a company

1219
01:04:20.520 --> 01:04:23.280
that does products and coaching.

1220
01:04:23.280 --> 01:04:26.200
I mean, it doesn't always have to be multiple entities.

1221
01:04:26.200 --> 01:04:28.880
That's why you wanna sit down with an attorney

1222
01:04:28.880 --> 01:04:31.920
and say, this is my exact situation.

1223
01:04:31.920 --> 01:04:33.200
Okay.

1224
01:04:33.200 --> 01:04:34.720
You know, I'm a sole proprietor

1225
01:04:34.720 --> 01:04:37.600
or like I have a board of individuals.

1226
01:04:37.600 --> 01:04:39.080
These people are interested in this.

1227
01:04:39.080 --> 01:04:40.880
These people are interested in that.

1228
01:04:40.880 --> 01:04:43.760
Then it might make more sense to have different entities,

1229
01:04:43.760 --> 01:04:46.720
but it may be instead that you just have one.

1230
01:04:46.720 --> 01:04:50.400
You have to lay it all out and it's very complex.

1231
01:04:50.400 --> 01:04:53.240
So don't, this is where like legal Zoom

1232
01:04:53.240 --> 01:04:55.520
and stuff like that is dangerous.

1233
01:04:55.520 --> 01:04:57.480
Like I know that we all wanna save money.

1234
01:04:57.480 --> 01:04:58.480
Look, I'm with you.

1235
01:04:58.480 --> 01:04:59.400
I wanna save money.

1236
01:04:59.400 --> 01:05:00.240
Fortunately.

1237
01:05:00.000 --> 01:05:03.840
Hey, I'm an IP attorney, so I filed my own trademarks.

1238
01:05:03.840 --> 01:05:06.120
Like I filed three of my own trademarks

1239
01:05:06.120 --> 01:05:08.200
and I got them all out, right?

1240
01:05:08.200 --> 01:05:09.720
Cause I know how to work the system.

1241
01:05:09.720 --> 01:05:12.200
Like Chevelle knows how to work the system too.

1242
01:05:12.200 --> 01:05:14.880
She could file something and call them up

1243
01:05:14.880 --> 01:05:17.400
and work with the examiner, I'm sure, right?

1244
01:05:17.400 --> 01:05:20.320
So that's a benefit we have because of our education.

1245
01:05:20.320 --> 01:05:24.800
But what you don't want to do is just kind of like,

1246
01:05:24.800 --> 01:05:26.440
well, I guess I have three ideas,

1247
01:05:26.440 --> 01:05:28.680
therefore I want three companies, don't do that.

1248
01:05:28.720 --> 01:05:30.920
Like talk to somebody, you know,

1249
01:05:30.920 --> 01:05:32.320
and I'll leave you guys with this.

1250
01:05:32.320 --> 01:05:34.320
Oh, wow, we're way over.

1251
01:05:34.320 --> 01:05:35.800
I'll leave you guys with this.

1252
01:05:37.640 --> 01:05:39.280
When you work with attorneys,

1253
01:05:39.280 --> 01:05:41.960
I mean, let me ask you this question.

1254
01:05:41.960 --> 01:05:43.960
When you first saw your dream house,

1255
01:05:43.960 --> 01:05:47.240
how many of you went to the house and said, I'll take it?

1256
01:05:47.240 --> 01:05:48.080
Just raising your hand.

1257
01:05:48.080 --> 01:05:50.520
Anybody like took it for the price listed?

1258
01:05:50.520 --> 01:05:51.960
Nobody.

1259
01:05:51.960 --> 01:05:56.320
So why is it that people, when they work with attorneys,

1260
01:05:56.320 --> 01:06:00.160
don't ask for budgets, don't ask for like,

1261
01:06:00.160 --> 01:06:01.920
what's the estimate cost?

1262
01:06:01.920 --> 01:06:03.440
What's going to happen first stage,

1263
01:06:03.440 --> 01:06:04.920
second stage, third stage?

1264
01:06:04.920 --> 01:06:08.800
Like they don't ask these questions.

1265
01:06:08.800 --> 01:06:10.600
Like lawyers are human.

1266
01:06:10.600 --> 01:06:14.320
You can ask them questions, ask them for a budget,

1267
01:06:14.320 --> 01:06:16.480
ask them to stay within the budget.

1268
01:06:16.480 --> 01:06:18.560
You know, maybe they, and if they can't do it,

1269
01:06:18.560 --> 01:06:20.360
they'll tell you they can't do it.

1270
01:06:20.360 --> 01:06:22.360
That's how you should work with attorneys as well.

1271
01:06:22.360 --> 01:06:25.600
Don't just hire a lawyer and then all of a sudden

1272
01:06:25.920 --> 01:06:29.240
you get a bill for $20,000 when you thought it was $2,000.

1273
01:06:29.240 --> 01:06:30.520
Like that doesn't make sense.

1274
01:06:30.520 --> 01:06:34.560
You wouldn't go to the house and pay sticker price.

1275
01:06:34.560 --> 01:06:36.240
Nobody does that.

1276
01:06:36.240 --> 01:06:39.400
I mean, maybe billionaires do, but I don't.

1277
01:06:39.400 --> 01:06:41.600
All right, Larissa does it, but she sells the house.

1278
01:06:41.600 --> 01:06:43.080
Okay, Larissa is telling you to do it

1279
01:06:43.080 --> 01:06:45.120
because she's making a commission on the house, right?

1280
01:06:45.120 --> 01:06:46.920
I'm just saying, all right.

1281
01:06:46.920 --> 01:06:50.600
So the point being, you know, when you work with attorneys,

1282
01:06:50.600 --> 01:06:53.240
they're human also, just work with them.

1283
01:06:53.240 --> 01:06:57.840
Ask them for budgets, ask them when can I expect what costs?

1284
01:06:57.840 --> 01:07:00.480
Like if you file a trademark application,

1285
01:07:00.480 --> 01:07:02.680
you don't pay once.

1286
01:07:02.680 --> 01:07:05.360
There's an application, then there's prosecution,

1287
01:07:05.360 --> 01:07:08.480
then there's allowance, there's renewal.

1288
01:07:08.480 --> 01:07:10.600
Like there's different stages.

1289
01:07:10.600 --> 01:07:14.000
So don't think you're done for 1200 bucks, you're not.

1290
01:07:14.000 --> 01:07:16.360
So, but understand that it's gonna be eight months

1291
01:07:16.360 --> 01:07:18.440
until you get an office action.

1292
01:07:18.440 --> 01:07:21.280
But if you're in Canada, it's gonna take you three years.

1293
01:07:22.280 --> 01:07:24.760
Canada is way behind,

1294
01:07:24.760 --> 01:07:28.000
three years to get an office action right now in Canada.

1295
01:07:28.000 --> 01:07:29.240
It's taking a long time.

1296
01:07:29.240 --> 01:07:30.440
So you gotta be careful.

1297
01:07:30.440 --> 01:07:31.680
So Larissa, what were you gonna say?

1298
01:07:31.680 --> 01:07:34.080
We got to close, we're really late.

1299
01:07:34.080 --> 01:07:35.400
Well, it was just around that line.

1300
01:07:35.400 --> 01:07:37.240
Someone had asked a question about how to,

1301
01:07:37.240 --> 01:07:39.080
and you can cover this another day,

1302
01:07:39.080 --> 01:07:40.040
but it's a good question.

1303
01:07:40.040 --> 01:07:42.080
How to pick a local trademark firm,

1304
01:07:42.080 --> 01:07:43.240
what to look for and ask.

1305
01:07:43.240 --> 01:07:44.280
And you kind of halfway-

1306
01:07:44.280 --> 01:07:45.440
That's a great question.

1307
01:07:45.440 --> 01:07:47.200
Yeah, let me cover that real quick.

1308
01:07:48.160 --> 01:07:52.120
So when it comes to attorneys, hiring attorneys,

1309
01:07:52.120 --> 01:07:54.920
number one, get somebody who knows what they're doing,

1310
01:07:54.920 --> 01:07:56.320
obviously.

1311
01:07:56.320 --> 01:07:59.120
Check their credentials, you know, like look into them.

1312
01:07:59.120 --> 01:08:03.760
Like don't go on Google and search trademark attorney

1313
01:08:03.760 --> 01:08:04.600
in my state.

1314
01:08:04.600 --> 01:08:07.360
Like don't, that's probably a bad idea.

1315
01:08:07.360 --> 01:08:09.880
All right, because they'll all pop up.

1316
01:08:09.880 --> 01:08:14.400
I mean, if you needed heart surgery,

1317
01:08:14.960 --> 01:08:19.319
would you like go on Google and type in heart surgeons

1318
01:08:19.319 --> 01:08:20.439
and then just go?

1319
01:08:20.439 --> 01:08:22.359
Like, probably not, right?

1320
01:08:22.359 --> 01:08:24.160
You're gonna like call people you know

1321
01:08:24.160 --> 01:08:27.680
who are in the medical field

1322
01:08:27.680 --> 01:08:29.479
and you're gonna ask questions

1323
01:08:29.479 --> 01:08:31.120
and you're gonna find some background on them.

1324
01:08:31.120 --> 01:08:33.680
You're gonna make sure that their credentials are good.

1325
01:08:33.680 --> 01:08:35.640
Do the same thing with your lawyers.

1326
01:08:35.640 --> 01:08:40.640
If you know a lawyer who doesn't handle that area of law,

1327
01:08:41.840 --> 01:08:44.200
you can still call that lawyer if you trust them

1328
01:08:45.000 --> 01:08:48.160
and say, hey, do you know a lawyer in this area?

1329
01:08:48.160 --> 01:08:49.560
Why do you do that?

1330
01:08:49.560 --> 01:08:52.800
Because now you're holding that lawyer accountable.

1331
01:08:52.800 --> 01:08:54.800
They're not accountable legally,

1332
01:08:54.800 --> 01:08:57.720
but what you've done is that there's no way for you to know

1333
01:08:57.720 --> 01:09:00.319
whether or not it's a good trademark attorney or not.

1334
01:09:00.319 --> 01:09:03.000
But I have lawyers, as an example, in my network,

1335
01:09:03.000 --> 01:09:06.080
I have lawyers literally in every single country

1336
01:09:06.080 --> 01:09:07.439
of the world.

1337
01:09:07.439 --> 01:09:09.160
You name a country, I have lawyers there.

1338
01:09:09.160 --> 01:09:11.560
There's no country I don't have lawyers in.

1339
01:09:11.600 --> 01:09:16.479
Malaysia, Indonesia, like India, China, Pakistan, everywhere.

1340
01:09:16.479 --> 01:09:18.000
I have lawyers in every place.

1341
01:09:18.000 --> 01:09:18.880
They don't work for me.

1342
01:09:18.880 --> 01:09:21.640
These are people that I work with, right?

1343
01:09:21.640 --> 01:09:26.640
So if somebody is my client and they're saying,

1344
01:09:26.640 --> 01:09:30.279
look, I need to do, as an example,

1345
01:09:30.279 --> 01:09:34.720
Sandy and I think the other person left already.

1346
01:09:34.720 --> 01:09:36.439
Yeah, the other person left already.

1347
01:09:36.439 --> 01:09:37.760
Well, Tracy's still here.

1348
01:09:37.760 --> 01:09:40.120
So they're both dealing with some corporate law issues.

1349
01:09:40.120 --> 01:09:41.920
So they might say, hey, Peter,

1350
01:09:41.920 --> 01:09:43.319
I have a corporate law issue here.

1351
01:09:43.319 --> 01:09:44.439
Do you have a good corporate lawyer?

1352
01:09:44.439 --> 01:09:47.319
I'll be like, yeah, Alex Pal, my office is insane.

1353
01:09:47.319 --> 01:09:48.600
The guy worked in New York.

1354
01:09:48.600 --> 01:09:49.880
He works for big corporations,

1355
01:09:49.880 --> 01:09:52.080
but he's in New Hampshire and Massachusetts.

1356
01:09:52.080 --> 01:09:53.600
So his rate's really low.

1357
01:09:53.600 --> 01:09:55.160
So I'd make a referral.

1358
01:09:55.160 --> 01:09:56.600
Or they might call somebody else

1359
01:09:56.600 --> 01:09:58.240
that they know who's a lawyer.

1360
01:09:58.240 --> 01:10:00.240
So take advantage of the network.

1361
01:10:00.000 --> 01:10:04.120
works of the lawyers that you do trust because chances are

1362
01:10:04.120 --> 01:10:06.280
they're not going to send you to somebody who doesn't know what

1363
01:10:06.280 --> 01:10:10.680
they're doing. All right. Now, second thing, you do not need to

1364
01:10:10.680 --> 01:10:13.400
work with a lawyer in your state, if you're dealing with

1365
01:10:13.400 --> 01:10:17.360
federal work. All right. Trademarks, you don't need a

1366
01:10:17.360 --> 01:10:20.160
lawyer in your state. Patents, you don't need a lawyer in your

1367
01:10:20.160 --> 01:10:23.840
state. Copyrights don't need a lawyer in state. Now, that's not

1368
01:10:23.840 --> 01:10:27.360
to say that there's not, there may be some kind of regulation

1369
01:10:27.360 --> 01:10:30.880
specifically in your state, if you're trying to enforce rights

1370
01:10:30.920 --> 01:10:34.640
where local rules are important to know, right, in which case,

1371
01:10:34.640 --> 01:10:36.800
the lawyer that you work with, who might be in another state

1372
01:10:36.800 --> 01:10:40.680
might refer to a local council to help out on something if they

1373
01:10:40.680 --> 01:10:43.960
needed it. But if you've got a lawyer that you trust, that's

1374
01:10:43.960 --> 01:10:46.800
good at what they do, and handles the area of law, like

1375
01:10:46.800 --> 01:10:50.240
trademarks, patents, copyrights, they don't need to be in your

1376
01:10:50.240 --> 01:10:56.760
state. I mean, I have clients in Germany, I have clients in

1377
01:10:56.760 --> 01:11:01.600
China. And I mean, gosh, so many different countries. I have

1378
01:11:01.600 --> 01:11:05.920
clients in California, in New York and all over the place. You

1379
01:11:05.920 --> 01:11:08.400
know, I live in New Hampshire. You know why I live in New

1380
01:11:08.400 --> 01:11:11.760
Hampshire. My backyard's a lake. That's why I live in New

1381
01:11:11.760 --> 01:11:16.240
Hampshire. We have two boats, we have sea dues. We have like my

1382
01:11:16.240 --> 01:11:20.160
kids love their life. Now I work out of Massachusetts and New

1383
01:11:20.160 --> 01:11:22.680
Hampshire, but I choose to live in New Hampshire because I have a

1384
01:11:22.680 --> 01:11:26.560
life. Right? Like one of the days I'll do it from the lake

1385
01:11:26.560 --> 01:11:29.080
house. And I'll just turn the camera and you'll see that's my

1386
01:11:29.240 --> 01:11:33.800
backyard. So I choose to live there. But my clients, I think

1387
01:11:33.800 --> 01:11:37.640
probably maybe 10% of my clients are in New Hampshire. So you

1388
01:11:37.640 --> 01:11:40.120
don't need to have a lawyer that's in your state. That is

1389
01:11:40.120 --> 01:11:44.080
not true when it comes to federal stuff. Right. But there

1390
01:11:44.080 --> 01:11:47.440
are certain things where you do need a lawyer in your state. And

1391
01:11:47.440 --> 01:11:49.560
then the lawyer that you're actually speaking to should tell

1392
01:11:49.560 --> 01:11:52.120
you that they should know. There's some local rules that

1393
01:11:52.120 --> 01:11:55.360
are important. You need a lawyer in your state for that. You know,

1394
01:11:55.360 --> 01:11:58.280
so hopefully that answers your question. Don't go on Google and

1395
01:11:58.280 --> 01:12:02.520
start searching. And there are certain things that legal zoom

1396
01:12:02.720 --> 01:12:07.040
can help for like a very basic, basic contract, you know,

1397
01:12:07.040 --> 01:12:11.680
something that you can start with. But even if you're even if

1398
01:12:11.680 --> 01:12:13.960
you're getting those documents from those sites, I would still

1399
01:12:13.960 --> 01:12:17.240
have a lawyer look at it before you use it. Because your

1400
01:12:17.240 --> 01:12:21.040
scenario may not line up with the document that you

1401
01:12:21.040 --> 01:12:23.840
downloaded. Or there may be something in particular that you

1402
01:12:23.840 --> 01:12:27.760
need. As an example, nondisclosure agreements, right?

1403
01:12:27.840 --> 01:12:31.440
I've got to close. You guys are drawing this out of me because I

1404
01:12:31.440 --> 01:12:35.000
would be done by now. So you guys are like pulling this stuff

1405
01:12:35.000 --> 01:12:37.520
out of me. So I'm just continuing just to help you

1406
01:12:37.520 --> 01:12:41.560
because I can see you guys are soaking it up. So as an example,

1407
01:12:41.760 --> 01:12:44.280
nondisclosure agreement, you go on to legal zoom, you type of

1408
01:12:44.280 --> 01:12:47.240
nondisclosure agreement, right? You're going to get a document

1409
01:12:47.240 --> 01:12:50.840
that's called a nondisclosure agreement, very basic. But

1410
01:12:50.840 --> 01:12:53.560
you're not going to see in many cases called a non compete.

1411
01:12:55.560 --> 01:12:58.680
Non competes and nondisclosure agreements go together very

1412
01:12:58.680 --> 01:13:02.400
well. So if you get somebody who you're disclosing something to,

1413
01:13:02.400 --> 01:13:05.400
and they're not become privy to your information, it's great if

1414
01:13:05.400 --> 01:13:08.720
you get them under a non compete as well. So if they're working

1415
01:13:08.720 --> 01:13:12.600
with you on a project, not only can they not disclose it, but

1416
01:13:12.600 --> 01:13:16.920
they can't then compete with you on the exact same thing. That's

1417
01:13:16.920 --> 01:13:20.720
not going to come on some basic forms. Like this is why lawyers

1418
01:13:20.720 --> 01:13:23.280
are very helpful. Because they'll be able to tell you what

1419
01:13:23.280 --> 01:13:27.360
are the extra things that are important to your scenario. Or

1420
01:13:27.360 --> 01:13:30.280
they might just tell you, gosh, that's so basic on legalism. You

1421
01:13:30.280 --> 01:13:35.480
don't need me. You know, now I am going to close. Alright, so

1422
01:13:35.720 --> 01:13:41.440
bless all of you guys. That was day one. So go live in Facebook.

1423
01:13:41.840 --> 01:13:45.960
You guys had enough for five days, but go on to Facebook. Go

1424
01:13:45.960 --> 01:13:49.400
live, let people know what was the main thing that you know,

1425
01:13:49.400 --> 01:13:52.040
that really appealed to you that was helpful. That's going

1426
01:13:52.040 --> 01:13:54.920
to help a lot of other people love spending time with you guys

1427
01:13:54.920 --> 01:13:58.000
here in VIP. You know, come up with your questions, you can

1428
01:13:58.000 --> 01:14:02.160
email them to me at nevis at elite hyphen challenges.com. I'm

1429
01:14:02.160 --> 01:14:04.160
not going to get to every single question that's not going to

1430
01:14:04.160 --> 01:14:07.680
happen. But I will pick every once in a while people to go

1431
01:14:07.680 --> 01:14:11.600
live to answer a few questions. Okay. With that, I'm going to

1432
01:14:11.600 --> 01:14:14.440
leave Larissa, I've got to take care of some work stuff. And

1433
01:14:14.440 --> 01:14:18.520
then tomorrow you guys can ask the district questions. I talked

1434
01:14:19.200 --> 01:14:20.960
Thank you, Peter.

1435
01:14:22.360 --> 01:14:24.320
Thank you so much. God bless you.