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Okay, all right, so we're in the June protection portal.

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What's going on, Idea Protectors?

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It's good to see everybody.

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I am outdoors because in New Hampshire, it has been too darn cold for too darn long.

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We actually have a warm day, and there was no way I was going to be indoors.

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I was like, finally, we have sun.

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I'm going outside.

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I'm having my meetings with MIT and everybody outdoors.

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I don't care who it is that I'm meeting with.

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I'm outdoors because I need sunlight.

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There's something about being Puerto Rican.

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If you don't get enough sunlight, you become like, I don't know, it's just weird, it doesn't

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work.

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I need sunlight.

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There's a number of things that are going on.

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I want to touch base on a few different things first, and then I'll take any of your questions.

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I wanted to see if Emily was around.

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Ray, can you see if you can call Emily, the one we did the audit with yesterday?

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Sure.

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I thought she said she wasn't going to be able to make it today.

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She's available for like five minutes, just to stop by.

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Okay.

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I just wanted to talk about something real quick that she went through.

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A few things.

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One is, there's some administrative stuff we got to talk about, and then there's, we're

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going to be talking about IP portfolio management here partially because one of the things that

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people are running into is, okay, before I didn't know there was an issue at all.

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Now I know there's an issue, but I can't afford to protect everything.

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I'm not going to protect literally everything.

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What in the world do I do?

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How do I handle a situation where I'm running three courses, I've got an ebook, I've got

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personal, oh, there's a gorgeous butterfly.

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This is why I like being outside.

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I have these other things that are taking place.

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What am I supposed to do?

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Where do I invest the funds?

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How do I invest the funds?

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How do I obtain the funds?

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Do I need to protect it at all?

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Is it even a requirement for me to protect this specific thing?

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First of all, what I want to mention is some of the administrative stuff, then we'll go

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into that.

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Then I'll go into some of the major issues I'm seeing people not know about in using

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a number of different software platforms and using a number of different entities and it's

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resulting in them losing what they have without even knowing it.

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It's almost like having a parasite on you that's slowly sucking the life out of you

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and you don't even know.

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I'm going to reveal something that is happening and what the plan is behind that by some of

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these companies so as to make you captive so that you know about this beforehand and

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your companies don't run into problems and you don't run into problems.

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Administrative side, a few of you are either your annual membership has expired or you're

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coming up on your annual membership renewal.

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If when you registered, whatever you registered at, the cost for the renewal is either that

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or less.

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I'm not increasing it.

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The reason why is because some of you guys are OGs.

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You've been around for a while.

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It's a lot of fun, honestly, interacting with you, watching your businesses grow, watching

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you explode and then seeing because I've been, I don't know that you guys know this, I get

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hired by corporations for $10,000 to sit down with them for a few minutes to evaluate their

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entire company and to give them guidance.

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I'm providing an IP audit for people where I'm doing that for two to three hours, which

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for me is unheard of.

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And then on top of that, I'm doing trademark search, trademark application and entry into

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the protection portal for a full year.

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That's unheard of.

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I've literally got my clients reaching out to me saying, how do I get in your protection

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portal?

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Because you're giving a better deal through your protection portal and through your audit

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package than we're getting and we've been your clients for seven, 10, 20 years.

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And I was like, yeah, but you're not a startup like you're worth millions of dollars.

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It's not fair for you.

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Like, you know, these guys need it because they're starting out.

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So, um, so one thing in particular, uh, if you're asking yourself, I don't

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know, which things I need to protect.

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I don't know, um, which things I should do first or second.

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I I'm not really sure.

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Like, um, like, is this even worth worth protecting?

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Or I don't know if there's an ownership issue here, or I don't know if

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there's a contract issue here, or like, you're just not sure about a number

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of things and you're coming up for renewal or you're at the period of

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renewal or ready, I would strongly suggest you do an audit.

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All right.

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The reason why I would suggest you do an audit is because then we

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can look at your specific scenarios.

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We can go through literally everything that you're going through in your

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company, evaluate what you should protect, should not protect, what

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matters, what doesn't matter, what things are going to be obsolete

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within X number of years.

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So even obtaining protection doesn't even matter.

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Um, where you should have agreements in place, like non-disclosures,

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non-competes, where you should have like employee agreements in place, where

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you should have like third party, third party, uh, contracts in place.

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Like we can go through all of that within a two to three hour powwow.

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Like Eileen's done like a number of you, like Tim's done, like

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a number of others have done.

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And we can figure out what's going on with your company.

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And we could figure out what your strategy should be going forward.

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Okay.

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Um, so if you're coming up on that renewal or you're at the point of that

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renewal and you as a company, you're thinking, man, there's not, I'm

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not really sure about this.

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What should I be doing?

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What's the strategy I should be using going forward?

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Uh, and I can tell you that there's a lot of spiritual stuff

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that happens in those audits.

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Um, I would suggest you actually look at the audit.

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Okay.

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Um, just to kind of clean everything up.

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Uh, and it's, I'm not telling you guys to do that for me because I actually

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lose money in doing audits with everybody because at my billing rate,

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you know, I can sit down with a company and make 10 grand just for doing

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something really quick with them.

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Um, so, but the package of the application, the search, the renewal

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for the entire year for the protection portal, plus the sit down and the

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evaluation and the guidance is going to be worth it for like 59 95 for you guys.

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All right.

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As a company.

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Uh, and there's many people that can give you testimonies on that.

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Uh, we just did one yesterday.

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I don't know.

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We did not plan for what happened yesterday.

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Um, but if, uh, I don't know if, um, if she's available, was

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she around or she, she wasn't.

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Um, she actually needs everyone to pray for her.

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She had a medical emergency.

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She's at the hospital right now.

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Last night, her husband got struck by lightning and she had to arrange to get

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her kids taken and then drive all night to the hospital to get to him.

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So I told her that we would all pray for the family.

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And she said, you know, she feels, yeah.

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She says she feels like the enemy does not like the things that

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are moving for their families.

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So,

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well, remember what was revealed?

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The thing that was revealed for her was like, like Lily transformative

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of like the entire world.

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Yeah.

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Major, major, major.

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And when that thing got revealed, like that's why we prayed over

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her family and everything.

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We're like, that thing is huge.

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And then he gets struck by lightning.

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He got struck by lightning.

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And I told her, I said, you know, you gotta look at, you know, what you do

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have instead of what you don't, it's the only way to combat that opposition

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because, uh, your husband got struck by lightning, but he still survived.

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And he's, he's okay.

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You know, he's better.

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He's in better shape than he should be, which is a miracle.

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So under the circumstance of praying over everything yesterday,

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because I'm glad like he didn't.

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Oh my God.

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Like that.

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That's all right.

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Yeah.

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Let's pray over her.

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Can we pray you guys?

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Okay.

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We'll pray now.

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Um, I just want to pray over her now because, um, that's ridiculous.

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So yeah.

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So father God, we just thank you.

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Uh, for your presence, your love, your power, your protection,

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the protection of the blood of Jesus.

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Father, we just, even before we start this, we pray over every single person

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here, your plans that you've placed in their hearts, uh, in their lives.

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Lord, we thank you for protection of that.

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Father God, we come into agreement with what you are doing in our lives and in

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the lives of those around us that your will would manifest here on earth.

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So it will be on earth as it is in heaven.

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The father God, we just speak over Emily and her husband.

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Father, I just speak forth complete restoration of every single cell nerve

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tissue of his entire body.

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That all trauma would be removed now in Jesus name, complete restoration

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back to your original design.

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Zero.

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of effects from the lightning strike. Father, I thank you that this becomes a testimony for them

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and that there's an acceleration in their lives and in the vision and the plan that

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you placed in Emily's life. Father, I thank you for the power of what you're doing in all of our lives.

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I ask you to just keep a hedge of protection around her, her family, each one of us, our families.

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Father God, the vision that you place in us,

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the resources that you provide, all that you've provided to us, Lord,

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the relationships and everything that you're doing in our lives, Lord.

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I thank you for protection over all of that and I decree and declare life in our flesh, in our soul,

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in the vision that you've placed over us, Lord. I thank you that we come into alignment

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with what you are doing instead of trying to create things that you have not called us to

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and struggling. Let us hear what you're calling us to and to come into alignment

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with that so it'll happen with grace and ease. In Jesus name, Amen.

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Let me see something here. This is really interesting. Hold on one second.

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Where is it?

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While Peter's looking for what he's looking for, if everyone can take a second after the meeting

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and jump over into Facebook, I put a poll in there because we are contemplating moving the

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meetings to 7 p.m. Eastern at night so that it's easier for people to schedule. It's not

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middle of the day where you guys have lots going on. So if you guys could weigh in on what you

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prefer, either same time or moving it to 7, that would help us a ton. And as well, everybody's

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been emailed. If you haven't had the ability to log into the members portal or you just haven't

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signed up an account, I created accounts for all of our members and sent you guys each your access

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to see the replay videos in the members portal. So check your email. Your access is in there.

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And that way you guys can have the replays when they're ready.

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All right. Well, let's jump in in some detail now. So it's interesting because I was literally

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just reading a scripture this morning on where we're investing our time, what we're focusing on,

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what's important to us. So we're going to cover a lot of IP stuff today, but it's interesting that

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some of us what's going on is like we're focusing on things that we're not called to focus on.

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And it's draining our time. It's draining our resources. It's draining our energy.

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And we don't understand why that thing is not prospering. And so there's a level of importance

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of acknowledging which thing you're actually being called to. And so I'm going to start

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covering some IP stuff, but then I'm going to cross over into that because one of the things

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that I've found to be very effective in my own practice is when I know that something is being

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breathed on, that's what I pursue. I don't just pursue like what my personal goals and desires

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are. I like to figure out out of my personal goals and desires, which ones are being breathed on,

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like which one is inspired by God? What's the thing that I'm called to do?

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When I pursue that, it's a lot easier. There's a grace on it. It's not like there's no

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struggle whatsoever. It's just to drive it home. I brought in $2.8 million in my

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origination in the year that I was the most sick. All right. That was the year that I actually

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wasn't doing client development. I wasn't going out. I wasn't going to the stupid chicken dinners

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that lawyers do. You know, the shark fest where they're all like going in the water looking for

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blood to try and grab a client. I didn't go to almost any of those. And in the entire year,

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I was working from home most of the time because I wasn't feeling well. That year,

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I had higher origination than I ever had in my entire life. And the managing partner and the

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management committee said, how did you do this? You blew the roof off of every record that we had.

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How did you do that? My answer is Jesus. I was like, that was it. Because honestly,

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I could not do that myself. I don't know where everybody is in their relationship with God or

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if they have a relationship with God, but there's certain things that you'll feel the breath on it.

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You'll know. There's three options in front of you. And I'm seeing this for multiple of you.

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You have multiple options in front of you right now.

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And you have to figure out do I continue doing and what the strategy is summary user using is you're going well

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Let me let me work on all three of them and the one that takes off

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That's the one that I'll commit to that is not a strategy

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That that is not a strategy. That's the way to burn out

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Okay, what you want to do is figure out which of the three is the one that I'm being called to

232
00:15:25.900 --> 00:15:30.540
Maybe one of those other ones I'm supposed to get a partner on or sign to somebody else

233
00:15:30.540 --> 00:15:35.100
and I have certain legal rights in there so I can make money on their licensing or

234
00:15:35.620 --> 00:15:37.620
franchising or in something like that or

235
00:15:38.460 --> 00:15:43.220
You know, maybe this is something that I signed to like a kid or a family member or whatever

236
00:15:43.660 --> 00:15:46.500
But your assignment is not to be in all three things

237
00:15:46.700 --> 00:15:53.060
Full speed full energy until one of them takes off and then at that point that's the thing you're gonna focus on

238
00:15:53.380 --> 00:15:55.380
That is not a strategy

239
00:15:55.820 --> 00:15:57.820
That's a way to end up having to take

240
00:15:58.460 --> 00:16:02.060
Out of an in like garbage to try to make it through today

241
00:16:03.660 --> 00:16:07.380
Like I know because I was there okay, so I'm telling you guys

242
00:16:08.140 --> 00:16:09.500
I

243
00:16:09.500 --> 00:16:10.780
Don't know where that came from

244
00:16:10.780 --> 00:16:14.780
But some of you guys needed to hear that because that was not planned for me to discuss today

245
00:16:14.780 --> 00:16:16.780
So I hope that helps you guys

246
00:16:17.220 --> 00:16:19.220
Let me jump in now

247
00:16:19.500 --> 00:16:23.620
Into Sean's like what the heck just happened, bro. All right, so

248
00:16:24.300 --> 00:16:28.660
Let me jump in on some of the IP things. One of the questions that people are asking is

249
00:16:29.300 --> 00:16:34.460
All right. There's a lot of different things to do. What do I do? Like, what do I protect first?

250
00:16:34.460 --> 00:16:37.500
What do I protect second? What do I look at like?

251
00:16:38.100 --> 00:16:40.100
Wait, so I'm gonna talk about that now

252
00:16:40.860 --> 00:16:42.860
Okay. All right

253
00:16:43.860 --> 00:16:45.380
If

254
00:16:45.380 --> 00:16:47.180
You're thinking of technology

255
00:16:47.180 --> 00:16:51.100
Let's start with technology and then we'll break into things that are like copyright issues

256
00:16:51.100 --> 00:16:56.380
And then we'll break into things that are like trademark issues. Okay, so if you're talking technology like like

257
00:16:57.140 --> 00:16:59.140
methods systems

258
00:17:00.140 --> 00:17:04.339
If that system or method is going to be obsolete within three to four years

259
00:17:04.619 --> 00:17:08.180
Or even up to five years do not waste money on a patent

260
00:17:08.700 --> 00:17:12.540
It's a waste of money it's gonna take you two and a half to three years to get out of a patent office

261
00:17:13.579 --> 00:17:17.020
That means you're gonna have a year and a half to two years of life on

262
00:17:17.780 --> 00:17:19.780
It complete waste of time

263
00:17:21.099 --> 00:17:22.780
Complete waste of money

264
00:17:22.780 --> 00:17:24.780
Most lawyers are not gonna tell you that

265
00:17:25.579 --> 00:17:27.740
Right. I'm telling you that

266
00:17:28.339 --> 00:17:33.260
Don't waste your time. Don't waste your money trying to protect something on the patent side

267
00:17:33.700 --> 00:17:38.620
Don't waste your time and money drafting a patent application that's gonna be obsolete within three four or five years

268
00:17:39.380 --> 00:17:43.060
It's just it's not gonna be beneficial to you

269
00:17:44.060 --> 00:17:48.700
Okay, so that's that's the patent side. Now. What about trademarks on?

270
00:17:49.540 --> 00:17:53.140
The trademark side. This is where a lot of you are running into

271
00:17:54.300 --> 00:18:01.220
Situations you've got how many people here have a book or an e-book or like another type of book some kind of publication

272
00:18:01.220 --> 00:18:02.460
Just by show of hands

273
00:18:02.460 --> 00:18:04.460
All right, so there's a few of you. All right

274
00:18:05.020 --> 00:18:07.300
And how many of you are trying to figure out?

275
00:18:07.940 --> 00:18:10.580
Or let's say you have a book

276
00:18:11.180 --> 00:18:14.380
You're trying to figure out. Do you keep that in the name of yourself?

277
00:18:14.380 --> 00:18:18.540
Or do you keep that in the name of an entity? How many of you trying to figure that out?

278
00:18:19.220 --> 00:18:21.140
Anybody looking at that issue now?

279
00:18:21.140 --> 00:18:26.900
All right, cool. So it looks like you guys have figured that out. I know that Eileen we actually did an IP audit

280
00:18:27.140 --> 00:18:31.660
We talked about a number of things in there. I know Tim we did that as well

281
00:18:31.940 --> 00:18:33.940
But here's the thing

282
00:18:34.620 --> 00:18:40.540
If you have let's say five or six different things and in those five or six different things

283
00:18:40.540 --> 00:18:46.980
You've got different names for the five or six different things. You may not want to spend six seven thousand dollars

284
00:18:47.500 --> 00:18:53.460
For protecting all of them. So this is what I would do. Okay, this is not this is not legal advice

285
00:18:53.460 --> 00:18:56.340
So here's here's the first time there's not no legal advice

286
00:18:57.340 --> 00:18:59.340
Here's what I would do

287
00:19:02.340 --> 00:19:05.180
Your core business is the most important one

288
00:19:06.260 --> 00:19:10.980
All right your core business. This is a one way everything else stems from

289
00:19:11.660 --> 00:19:14.220
Okay. So now what's the core business?

290
00:19:16.180 --> 00:19:22.820
Let's say that you have a book you have a course you have a workshop you have a mastermind

291
00:19:22.940 --> 00:19:28.420
You may decide to have the course under some kind of separate entity name

292
00:19:29.180 --> 00:19:34.780
Because you might think to yourself. Well, I want to make sure that I waive any potential liability in that that's fine

293
00:19:34.780 --> 00:19:36.780
That's fine. I've seen people do that

294
00:19:37.300 --> 00:19:42.020
But you have to have like a house name like, you know a major

295
00:19:42.620 --> 00:19:44.620
Corporation that there's housing

296
00:19:45.140 --> 00:19:47.140
That's a big part of your business

297
00:19:47.300 --> 00:19:53.700
You have to have like a house name like, you know, a major corporation that there's housing

298
00:19:54.580 --> 00:19:56.580
The majority of what you're doing

299
00:19:57.140 --> 00:20:00.180
Whatever name it is that you come up with for that

300
00:20:00.000 --> 00:20:02.560
that's the one that you need to protect.

301
00:20:03.440 --> 00:20:04.360
That's the first one.

302
00:20:04.360 --> 00:20:06.920
Like there's zero doubt on that one.

303
00:20:06.920 --> 00:20:09.680
Whatever that LLC is, that S-corp, that C-corp,

304
00:20:09.680 --> 00:20:14.680
whatever that is, that major entity you wanna protect.

305
00:20:14.800 --> 00:20:16.520
Okay, because mostly your assets

306
00:20:16.520 --> 00:20:19.360
are gonna fall under that entity

307
00:20:19.360 --> 00:20:22.360
and you want people to be able to identify

308
00:20:22.360 --> 00:20:25.880
the source of goods or services by that name, right?

309
00:20:25.880 --> 00:20:27.280
Whatever that name is, okay?

310
00:20:27.280 --> 00:20:30.240
Now, what if I have a name for my course?

311
00:20:30.240 --> 00:20:33.320
I have a name for my mastermind.

312
00:20:33.320 --> 00:20:38.320
I've got a name for, let's say like t-shirts,

313
00:20:39.600 --> 00:20:41.040
things that I'm putting on t-shirts.

314
00:20:41.040 --> 00:20:43.960
I've got a name for, let's say,

315
00:20:43.960 --> 00:20:46.280
some kind of gift that I'm giving to people.

316
00:20:46.280 --> 00:20:50.840
Do I need to protect all of those names, right?

317
00:20:50.840 --> 00:20:55.160
If the thing that you're giving away is a giveaway, a gift,

318
00:20:55.160 --> 00:20:57.360
meaning that you're not making money on it,

319
00:20:57.360 --> 00:21:01.360
there's no interstate commerce taking place,

320
00:21:01.360 --> 00:21:03.760
then you don't file a trademark application

321
00:21:03.760 --> 00:21:06.840
for those things, all right?

322
00:21:06.840 --> 00:21:09.920
So some of you are doing giveaways.

323
00:21:09.920 --> 00:21:11.080
Like you have a free mug.

324
00:21:11.080 --> 00:21:13.920
Here's a mug, or like here's a, you know,

325
00:21:13.920 --> 00:21:18.040
like I'm actually creating these water thermoses

326
00:21:18.040 --> 00:21:22.880
that are gonna say on it, not legal advice, right?

327
00:21:22.880 --> 00:21:24.800
So those are going out to you guys, right?

328
00:21:25.440 --> 00:21:27.640
So those things are being put together.

329
00:21:27.640 --> 00:21:30.080
So people are gonna be like, what is this?

330
00:21:30.080 --> 00:21:32.360
So I think that's just kind of hilarious.

331
00:21:32.360 --> 00:21:35.240
So the question is,

332
00:21:35.240 --> 00:21:37.280
am I gonna be selling those things also?

333
00:21:37.280 --> 00:21:38.920
Yes, I'll sell them also.

334
00:21:38.920 --> 00:21:43.640
So since I'm selling them, well, for that reason,

335
00:21:43.640 --> 00:21:47.080
I would have the trademark.

336
00:21:47.080 --> 00:21:48.880
I go have the trademark as well,

337
00:21:48.880 --> 00:21:50.440
because I'm selling them.

338
00:21:50.440 --> 00:21:52.240
And then since I'm selling them

339
00:21:52.240 --> 00:21:54.680
and I'm using them on a thermos or cups or mugs

340
00:21:55.560 --> 00:21:59.040
or glasses, then I would protect that area,

341
00:21:59.040 --> 00:22:00.840
those areas of goods.

342
00:22:00.840 --> 00:22:02.680
That's where I would protect the name, right?

343
00:22:02.680 --> 00:22:06.080
So the name, not legal advice,

344
00:22:06.080 --> 00:22:09.680
I would protect associated with water pitchers

345
00:22:09.680 --> 00:22:12.120
or, you know, or thermos or water thermos

346
00:22:12.120 --> 00:22:13.800
or whatever it is, right?

347
00:22:13.800 --> 00:22:16.600
Those vessels, I would file for that

348
00:22:16.600 --> 00:22:18.840
because I'm actually making money.

349
00:22:18.840 --> 00:22:20.720
There's a stream of income associated with it.

350
00:22:20.720 --> 00:22:23.400
But if all I'm doing is giving them away,

351
00:22:24.400 --> 00:22:26.480
I'm not selling them,

352
00:22:26.480 --> 00:22:28.320
then the majority of time,

353
00:22:28.320 --> 00:22:31.080
I do not seek trademark protection

354
00:22:31.080 --> 00:22:32.320
because they're not really being used

355
00:22:32.320 --> 00:22:33.200
in interstate commerce.

356
00:22:33.200 --> 00:22:34.920
They're just a giveaway.

357
00:22:34.920 --> 00:22:37.760
And there's actually case law that talks about this.

358
00:22:37.760 --> 00:22:40.000
You know, do you actually file for trademark rights

359
00:22:40.000 --> 00:22:43.360
associated with something that is not being sold?

360
00:22:43.360 --> 00:22:45.520
And most of the times the answer is no.

361
00:22:47.080 --> 00:22:49.840
Now, you may ask yourself, well, hold it.

362
00:22:49.840 --> 00:22:51.280
What about like Life is Good?

363
00:22:51.280 --> 00:22:52.280
That's a t-shirt company.

364
00:22:52.280 --> 00:22:54.760
Yeah, but they sell their t-shirts.

365
00:22:54.760 --> 00:22:57.160
So for that reason, they actually protect the name,

366
00:22:57.160 --> 00:22:59.080
Life is Good associated with t-shirts.

367
00:22:59.080 --> 00:23:01.360
They were actually a client of my law firm, right?

368
00:23:01.360 --> 00:23:05.280
So not my present firm, my former firm.

369
00:23:05.280 --> 00:23:08.240
So the whole point being,

370
00:23:08.240 --> 00:23:09.480
there's not everything

371
00:23:09.480 --> 00:23:11.160
that you're gonna obtain protection for.

372
00:23:11.160 --> 00:23:13.560
Now, if it's something that's just gonna be around

373
00:23:13.560 --> 00:23:15.080
for a year or two,

374
00:23:15.080 --> 00:23:17.560
this is what I would do as a trademark owner.

375
00:23:17.560 --> 00:23:19.720
I would ask myself,

376
00:23:19.720 --> 00:23:22.120
is the trademark that I'm going to use

377
00:23:22.960 --> 00:23:27.960
something that I can use for something else in the future?

378
00:23:30.400 --> 00:23:35.400
All right, so let's say that you're providing an e-course,

379
00:23:35.960 --> 00:23:38.680
right, some kind of e-course, electronic course.

380
00:23:39.960 --> 00:23:41.560
So you have a name,

381
00:23:41.560 --> 00:23:43.120
you protect associated with that name,

382
00:23:43.120 --> 00:23:44.480
but you know that that course

383
00:23:44.480 --> 00:23:46.720
is gonna be obsolete within two years.

384
00:23:46.720 --> 00:23:50.080
Can you then use that name for another e-course

385
00:23:50.080 --> 00:23:54.000
or like something else that's related to an e-course

386
00:23:54.000 --> 00:23:56.760
so you didn't just waste all of your money

387
00:23:56.760 --> 00:23:58.280
on filing a trademark application

388
00:23:58.280 --> 00:24:01.760
for something that's gonna be obsolete within two years?

389
00:24:01.760 --> 00:24:02.600
See what I mean?

390
00:24:02.600 --> 00:24:04.160
So on the trademark side,

391
00:24:04.160 --> 00:24:07.040
remember, trademarks have the ability to last forever.

392
00:24:08.640 --> 00:24:10.040
You just have to renew them.

393
00:24:11.080 --> 00:24:12.760
So you're looking at five-year periods

394
00:24:12.760 --> 00:24:14.640
and then 10-year periods.

395
00:24:14.640 --> 00:24:17.320
And so you're renewing and renewing and renewing, right?

396
00:24:17.320 --> 00:24:20.640
But the way that it works in the trademark world

397
00:24:20.640 --> 00:24:23.480
is if you're not consistently using a trademark

398
00:24:23.480 --> 00:24:25.520
within three years,

399
00:24:25.520 --> 00:24:29.720
then you can't continue to own it.

400
00:24:30.920 --> 00:24:32.640
So let's say you used it for two years

401
00:24:32.640 --> 00:24:34.400
and then you stopped for three years.

402
00:24:34.400 --> 00:24:35.960
And then in your fourth year,

403
00:24:37.000 --> 00:24:40.000
four years later, you decide to start using it again.

404
00:24:40.000 --> 00:24:42.240
Technically your trademark went abandoned

405
00:24:42.240 --> 00:24:44.320
because you didn't use it for three years.

406
00:24:45.200 --> 00:24:48.760
Okay, so there has to be continuous use of this thing.

407
00:24:48.760 --> 00:24:52.120
Now, if you stop using it for a year, even a year or two,

408
00:24:52.120 --> 00:24:54.760
it's okay, the law says three years.

409
00:24:56.360 --> 00:24:59.440
So if you've got this trademark, this really good name,

410
00:24:59.440 --> 00:25:00.280
and you're thinking,

411
00:25:00.000 --> 00:25:01.180
Thinking to yourself, all right, cool,

412
00:25:01.180 --> 00:25:02.560
I'm gonna use this name,

413
00:25:02.560 --> 00:25:05.280
but this program is gonna be over within two years.

414
00:25:05.280 --> 00:25:06.860
Just think beforehand,

415
00:25:06.860 --> 00:25:08.960
before you go filing a trademark application

416
00:25:08.960 --> 00:25:11.320
on the name of the course,

417
00:25:11.320 --> 00:25:13.760
ask yourself, is this gonna be obsolete?

418
00:25:13.760 --> 00:25:16.880
Because if it's gonna be obsolete within two, three years,

419
00:25:16.880 --> 00:25:19.240
you already have legal rights under common law.

420
00:25:21.600 --> 00:25:25.440
Remember, under common law, you have trademark rights.

421
00:25:25.440 --> 00:25:26.680
You didn't have to file anything

422
00:25:26.680 --> 00:25:28.120
to obtain those legal rights.

423
00:25:29.120 --> 00:25:33.440
So if you already had legal rights under common law,

424
00:25:33.440 --> 00:25:36.600
then, and it's gonna be obsolete within two years,

425
00:25:36.600 --> 00:25:38.420
save your money, don't file.

426
00:25:39.960 --> 00:25:41.600
Okay, now some of you might be thinking,

427
00:25:41.600 --> 00:25:43.360
well, how do I know that this thing's

428
00:25:43.360 --> 00:25:45.960
not gonna be obsolete within two, three years?

429
00:25:45.960 --> 00:25:46.800
How do I know?

430
00:25:46.800 --> 00:25:48.560
Like, I really don't.

431
00:25:48.560 --> 00:25:50.760
I'm not aware of whether or not it is or not.

432
00:25:51.880 --> 00:25:54.200
If you're being led towards growing something,

433
00:25:54.200 --> 00:25:57.180
chances are it's not gonna be obsolete in two years,

434
00:25:57.220 --> 00:25:59.300
but if you're not sure,

435
00:25:59.300 --> 00:26:03.020
I would like put some communications

436
00:26:03.020 --> 00:26:06.540
either in a Facebook group about like scenario.

437
00:26:06.540 --> 00:26:08.700
Don't go specific into the trademark,

438
00:26:08.700 --> 00:26:10.140
but kind of talk about the scenario

439
00:26:10.140 --> 00:26:12.460
and we can answer some questions in there.

440
00:26:12.460 --> 00:26:14.820
And then obviously separately, if you do the audit,

441
00:26:14.820 --> 00:26:16.100
we can dig into your scenario

442
00:26:16.100 --> 00:26:20.620
and like specifically what you should do, okay?

443
00:26:20.620 --> 00:26:21.500
Does that make sense?

444
00:26:21.500 --> 00:26:22.780
That's gonna save you.

445
00:26:22.780 --> 00:26:25.580
There's some people that have been doing this,

446
00:26:25.580 --> 00:26:28.540
the, that have been doing the,

447
00:26:30.740 --> 00:26:32.900
the filing of trademarks for things

448
00:26:32.900 --> 00:26:35.700
that actually don't matter to the company long-term.

449
00:26:37.060 --> 00:26:39.220
So it's almost like,

450
00:26:39.220 --> 00:26:41.180
it's almost like you just learned about vitamins.

451
00:26:41.180 --> 00:26:43.180
So now you're taking 50 vitamins a day

452
00:26:43.180 --> 00:26:44.860
and your body's overloading and you're like,

453
00:26:44.860 --> 00:26:45.680
what's going on?

454
00:26:45.680 --> 00:26:46.520
I don't understand.

455
00:26:46.520 --> 00:26:47.460
I'm not feeling well.

456
00:26:47.460 --> 00:26:50.960
It's cause you're doing things that you don't need to do.

457
00:26:50.960 --> 00:26:53.540
So having the knowledge is phenomenal.

458
00:26:53.540 --> 00:26:56.420
Now the question is, do you need to do it?

459
00:26:56.420 --> 00:26:57.260
Right?

460
00:26:57.260 --> 00:26:59.980
So now we have to figure out within your business,

461
00:26:59.980 --> 00:27:01.980
what do you specifically need to do?

462
00:27:01.980 --> 00:27:04.100
All right, so let me talk a little bit

463
00:27:04.100 --> 00:27:05.300
about some of the programs

464
00:27:05.300 --> 00:27:06.740
that some of you guys are using.

465
00:27:06.740 --> 00:27:09.020
How many people here are using like ChatGPT

466
00:27:09.020 --> 00:27:11.960
or MidJourney or Jasper or Otter AI or?

467
00:27:12.900 --> 00:27:14.440
All right, only two of you guys?

468
00:27:14.440 --> 00:27:15.540
All right, three of you.

469
00:27:15.540 --> 00:27:18.380
So only three of you guys are using AI, okay.

470
00:27:18.380 --> 00:27:20.600
How many of you actually have marketing teams

471
00:27:20.600 --> 00:27:21.860
that are working for you?

472
00:27:22.860 --> 00:27:24.980
Like you're hiring an agency

473
00:27:24.980 --> 00:27:27.580
or you have somebody who does marketing within your company?

474
00:27:27.580 --> 00:27:28.540
So not a lot of people.

475
00:27:28.540 --> 00:27:30.260
All right, so that's good.

476
00:27:30.260 --> 00:27:31.300
That's good.

477
00:27:31.300 --> 00:27:35.620
So this is a warning to you, right?

478
00:27:35.620 --> 00:27:37.220
This is a warning for now.

479
00:27:39.180 --> 00:27:41.660
There are a number of these companies

480
00:27:43.480 --> 00:27:48.480
that have terms and conditions that say the following, okay?

481
00:27:49.480 --> 00:27:53.360
And this is problematic.

482
00:27:53.360 --> 00:27:55.120
And so I wanna make sure you guys are aware of this

483
00:27:55.120 --> 00:27:56.520
so you don't run into problems.

484
00:27:56.520 --> 00:27:59.240
Okay, so what it says is that

485
00:28:00.240 --> 00:28:04.440
as long as you're paying their monthly fee,

486
00:28:04.440 --> 00:28:06.400
you can use whatever's created

487
00:28:06.400 --> 00:28:09.820
using their platform commercially, okay?

488
00:28:09.820 --> 00:28:12.640
So you can use ChatGPT, you can use MidJourney,

489
00:28:12.640 --> 00:28:16.800
you can use a number of the other products that are created

490
00:28:17.240 --> 00:28:18.920
using these platforms.

491
00:28:18.920 --> 00:28:20.920
You can use them commercially

492
00:28:20.920 --> 00:28:23.920
if you're paying a monthly fee, okay?

493
00:28:23.920 --> 00:28:26.120
But what happens if you stop paying the fee?

494
00:28:27.720 --> 00:28:29.880
So think of it this way.

495
00:28:29.880 --> 00:28:33.400
You come up with a brand new logo using MidJourney.

496
00:28:33.400 --> 00:28:38.400
You come up with a brand new ad campaign using ChatGPT

497
00:28:40.800 --> 00:28:43.760
or you come up with some brand new copy

498
00:28:44.760 --> 00:28:45.600
that...

499
00:29:00.960 --> 00:29:04.400
Peter, if you can hear us, you're frozen up.

500
00:29:04.400 --> 00:29:07.280
Rick Tarrant, thank you for showing me your humorous.

501
00:29:07.280 --> 00:29:08.360
What was that?

502
00:29:08.360 --> 00:29:09.200
Okay, you're back.

503
00:29:09.200 --> 00:29:10.960
You were gone for about a minute there.

504
00:29:11.960 --> 00:29:13.280
Can you rewind?

505
00:29:13.280 --> 00:29:14.480
Yes, I can.

506
00:29:14.480 --> 00:29:16.280
Everybody shake your head if you can.

507
00:29:17.360 --> 00:29:18.200
That was weird.

508
00:29:18.200 --> 00:29:19.040
Okay.

509
00:29:20.400 --> 00:29:21.720
How far did you hear?

510
00:29:24.560 --> 00:29:28.160
Okay, a little bit past what you said.

511
00:29:28.160 --> 00:29:30.120
As long as we're paying for their services,

512
00:29:30.120 --> 00:29:32.560
we can still use their stuff.

513
00:29:32.560 --> 00:29:34.000
Okay, all right, cool.

514
00:29:34.000 --> 00:29:37.640
All right, so the policy that they have

515
00:29:37.640 --> 00:29:40.120
says that as long as you continue paying them,

516
00:29:40.280 --> 00:29:42.240
as long as you continue paying them per month,

517
00:29:42.240 --> 00:29:45.320
you can continue using what you create commercially.

518
00:29:45.320 --> 00:29:46.320
Now you might be thinking,

519
00:29:46.320 --> 00:29:49.480
well, I created it using the software, so I own it.

520
00:29:49.480 --> 00:29:50.320
No, you don't.

521
00:29:52.040 --> 00:29:55.440
You've obtained a license to use what was created

522
00:29:55.440 --> 00:29:57.360
using the platform.

523
00:29:57.360 --> 00:29:59.080
And as long as you continue paying them,

524
00:29:59.080 --> 00:30:00.480
you can continue using it.

525
00:30:00.000 --> 00:30:03.560
Using it the second you stop paying them. You cannot use it in

526
00:30:05.800 --> 00:30:12.880
Why is this a problem that logo that you created second you stop paying them per month you're now violating their policy

527
00:30:13.480 --> 00:30:21.620
So you actually will you you can be liable for for infringement of their contract for violation of their contract?

528
00:30:22.160 --> 00:30:24.160
with you

529
00:30:24.480 --> 00:30:27.520
So this is why I'm saying to you guys be really careful

530
00:30:28.280 --> 00:30:34.100
When you're using things like mid journey Chad GPT and others to come up with new created works

531
00:30:35.160 --> 00:30:41.960
Because according to their policies and some of them are changing their policies to include this provision now, so they'll make more money

532
00:30:43.400 --> 00:30:45.600
you can continue using them and

533
00:30:46.320 --> 00:30:52.280
As long as you use them you can use the results of their platform, but the second you stop you can't use it anymore

534
00:30:52.280 --> 00:30:53.800
It's gone

535
00:30:53.800 --> 00:30:56.880
So that means all of your creative works are gone Deb good

536
00:31:01.160 --> 00:31:03.160
You got on you

537
00:31:05.480 --> 00:31:07.680
What if you what if you

538
00:31:08.440 --> 00:31:15.120
Modify, what if you modify something that they did or wait what you're saying? Let me go back. Sorry

539
00:31:15.480 --> 00:31:17.620
what you're saying is that if we

540
00:31:18.340 --> 00:31:22.540
Use like in a marketing campaign a phrase that chat be

541
00:31:23.660 --> 00:31:25.340
GBPT created

542
00:31:25.340 --> 00:31:32.340
Then I need to keep paying the monthly fee for ever if I'm ever gonna if it whenever I'm using that

543
00:31:33.140 --> 00:31:40.420
For as long as I want to use that phrase that they were creative or whatever. It depends upon what level so

544
00:31:40.980 --> 00:31:47.260
Some of these programs have in their terms condition terms and conditions that if you're paying them you obtain

545
00:31:47.620 --> 00:31:49.260
full full rights

546
00:31:49.260 --> 00:31:56.020
Then others of them say that as long as you are paying them you have a non-exclusive license to use

547
00:31:56.460 --> 00:32:03.980
These things right different different programs like chat GPT mid journey Otter AI

548
00:32:04.460 --> 00:32:05.540
Jasper

549
00:32:05.540 --> 00:32:10.740
There's a bunch of IO stuff that just came out a lot of them just came out within the last month

550
00:32:11.300 --> 00:32:17.820
A lot of them have conditions that are saying that as long as you pay them you can use it, right but

551
00:32:18.660 --> 00:32:20.660
some of them have terms that say

552
00:32:21.060 --> 00:32:27.620
If you pay them and it's created then you can continue using what's created because you now own it outright

553
00:32:27.740 --> 00:32:32.420
It's your job to look at the terms and agree and terms and conditions and figure that out

554
00:32:33.340 --> 00:32:37.740
Okay, and if we if we rewrite something that they create

555
00:32:38.740 --> 00:32:43.500
If you try to write something that they create yeah, I can't

556
00:32:46.300 --> 00:32:47.460
Pardon

557
00:32:47.460 --> 00:32:51.980
So let's say as an example use chat GPT to create

558
00:32:52.620 --> 00:32:54.620
Let's say a chapter of your book, right?

559
00:32:54.980 --> 00:32:59.840
So you you input three chapters of your book and you say

560
00:33:00.620 --> 00:33:05.780
You say, you know for chat GPT you say take the position of being an author of a sci-fi

561
00:33:06.660 --> 00:33:11.620
Novel the following is the first three, you know first three chapters of

562
00:33:12.460 --> 00:33:17.740
The of the novel create the fourth chapter where the main character Rob

563
00:33:18.900 --> 00:33:20.420
encounters a

564
00:33:20.420 --> 00:33:22.420
vortex that allows him to

565
00:33:22.820 --> 00:33:23.980
go

566
00:33:23.980 --> 00:33:25.420
into the future

567
00:33:25.420 --> 00:33:27.100
1,000 years and

568
00:33:27.100 --> 00:33:34.100
Live on another planet and then boom it's typed like literally within five seconds. You've got an entire chapter, right?

569
00:33:34.220 --> 00:33:36.760
Right created you cannot own that

570
00:33:38.420 --> 00:33:42.340
Because it's created with AI and the law says

571
00:33:43.300 --> 00:33:46.940
Like under copyright law, it says anything that is created

572
00:33:47.460 --> 00:33:49.460
by a machine

573
00:33:49.620 --> 00:33:56.020
Namely as an example artificial intelligence, you cannot own a copyright for because you're not the author

574
00:33:56.780 --> 00:33:58.780
the

575
00:33:59.100 --> 00:34:05.700
Yeah, I'm just using it, you know to maybe come up with some some marketing phrases or or something like that

576
00:34:05.700 --> 00:34:08.219
And and I've asked it about yeah, that's okay

577
00:34:08.739 --> 00:34:16.020
right, right something about the radiation environment on the moon in moon habitation as as written by

578
00:34:17.500 --> 00:34:22.420
Radiation expert Jeff Newberry and so it gives me something and it gets some of the science wrong

579
00:34:22.420 --> 00:34:26.400
It gets some of the science wrong. But anyway, that's independent

580
00:34:27.080 --> 00:34:31.080
So, so I take if I took something like that and and

581
00:34:31.920 --> 00:34:39.679
Modified it. I'm just using them that as an idea or almost as a library or something, you know

582
00:34:41.199 --> 00:34:44.560
So anyway that okay, I'll be careful

583
00:34:45.600 --> 00:34:47.600
Yeah, so

584
00:34:47.840 --> 00:34:50.440
Well, you just alluded to is actually well

585
00:34:51.280 --> 00:34:53.679
Will you just can you guys hear me? Okay?

586
00:34:53.679 --> 00:35:00.120
I just saw a flicker on my screen. I was weird. Um, were you guys able to hear me?

587
00:35:00.000 --> 00:35:04.480
alluded to, or what you just alluded to, Deb, is actually the next thing that I was going

588
00:35:04.480 --> 00:35:09.840
to talk about is what do you actually use these things for? Like, what is permissible?

589
00:35:09.840 --> 00:35:15.680
Like, where should you take advantage of these programs? And then we're going to jump into

590
00:35:15.680 --> 00:35:20.800
other stuff that's, I think, really important, like in your nondisclosure agreements, your

591
00:35:20.800 --> 00:35:24.280
non-competes, and some of your licenses. And then I'll take any questions that anybody

592
00:35:24.280 --> 00:35:41.920
has on anything. But if you use ChatGPT to create, as an example, an ad, right? And you

593
00:35:41.920 --> 00:35:49.160
use that ad, the question is, do you technically own it, right? Or any of these AI platforms,

594
00:35:49.160 --> 00:35:53.300
you technically own it. You got to look at the terms and conditions. And what a number

595
00:35:53.300 --> 00:36:00.140
of them are saying is that you can use what's produced, but not for commercial purposes.

596
00:36:00.140 --> 00:36:09.140
Commercial purposes means to make money, right? To sell products, to do marketing. And so

597
00:36:09.140 --> 00:36:16.620
you've got, you want to kind of think, well, okay, if I'm using this in interstate commerce,

598
00:36:16.620 --> 00:36:23.280
I'm getting money coming in through my ads. There's a difference between getting an idea

599
00:36:23.280 --> 00:36:30.080
for something and actually using it word for word, okay? So what I would do, and what

600
00:36:30.080 --> 00:36:36.640
we do in our company, is we use these platforms to get ideas for different things. And then

601
00:36:36.640 --> 00:36:41.880
there's certain platforms that are available that tell you, you can use whatever's produced.

602
00:36:41.880 --> 00:36:46.200
You don't have to worry about getting sued for copyright infringement or breaking, violating

603
00:36:46.200 --> 00:36:54.240
a contract or anything like that. And so if I'm saying, like, if I use Chad GPT, I

604
00:36:54.240 --> 00:37:01.520
might say something like, take the position of a, well, let's look at my own situation.

605
00:37:01.520 --> 00:37:08.560
Take the position of a 25 year veteran in intellectual property law who handles litigation

606
00:37:08.560 --> 00:37:14.640
and prosecution throughout the world for patents, trademarks, copyrights, and trade secrets.

607
00:37:14.640 --> 00:37:27.720
Create an ad that is going to be enticing, exciting, inviting individuals to join a workshop

608
00:37:27.720 --> 00:37:33.480
for two hours in a single day covering the following topic. And then boom, it spits out

609
00:37:33.480 --> 00:37:40.200
an ad, right? So now what do we do? Like, I'll look at that. I'll get some ideas. I

610
00:37:40.200 --> 00:37:44.240
might modify it some, I might use it. So at the end of the day, am I in violation of

611
00:37:44.240 --> 00:37:53.120
their agreement? Am I using it for commercial purposes? Yes. Is it, am I allowed to do that

612
00:37:53.120 --> 00:38:01.800
for some of the platforms? No. Am I going to get sued for that? All right, look, this

613
00:38:01.800 --> 00:38:09.440
is where we start talking about business things and legal things, kind of, they cross over,

614
00:38:09.440 --> 00:38:16.520
but you got to make a business decision on some things, right? So this is a drink here.

615
00:38:16.520 --> 00:38:24.080
Not legal advice, but I will tell you that if I create an ad and I'm using one of these

616
00:38:24.080 --> 00:38:31.360
platforms, I'm using it. Am I concerned about being sued? I'm not telling anybody to violate

617
00:38:31.360 --> 00:38:34.760
any agreements in any way, shape or form. That's not what I'm saying. What I'm saying

618
00:38:34.760 --> 00:38:45.480
is that in my evaluation of these free platforms, I've chosen to use some of the content myself,

619
00:38:45.480 --> 00:38:53.800
right? Could that be a violation of their agreement? Yeah, possibly. Could be. It's

620
00:38:53.800 --> 00:38:58.600
possible. I guess what I need to do is read the terms and conditions and all these policies as

621
00:38:58.600 --> 00:39:05.400
well to see which one I can actually use and minimize potential liability for. But

622
00:39:05.400 --> 00:39:10.320
if you're getting an idea, to go towards Deb's question, if you're getting an idea on something

623
00:39:10.320 --> 00:39:16.000
and how much do you need to modify it to then be able to say that it's yours? The way that

624
00:39:16.000 --> 00:39:23.360
you use these platforms is to get ideas, but not to use the exact words that are created.

625
00:39:24.320 --> 00:39:31.840
Now, if you don't care about ownership rights, you don't care about who owns the copyright,

626
00:39:31.840 --> 00:39:39.680
then use them all you want. Just double check the policy and find out whether or not you can use

627
00:39:39.680 --> 00:39:46.480
what's created commercially. But if you're not too concerned about owning the copyright,

628
00:39:46.960 --> 00:39:53.280
and what does that actually mean? So what I mean by owning the copyright is if your competition

629
00:39:53.280 --> 00:39:59.520
tomorrow use the exact same ad with the exact same language that you use, are you going to get upset?

630
00:40:00.000 --> 00:40:06.320
If you don't care, then it doesn't matter.

631
00:40:06.320 --> 00:40:12.200
If you do care, then you're going to want to own your own copyright.

632
00:40:12.200 --> 00:40:15.180
You're going to want to own your own materials, and the only ways you can own your own copyright

633
00:40:15.180 --> 00:40:16.180
is if you're the creator.

634
00:40:16.180 --> 00:40:22.360
So that means you've got to use these programs, these platforms for ideas, not for the word-for-word

635
00:40:22.360 --> 00:40:25.320
copying and going forward.

636
00:40:25.320 --> 00:40:33.820
So what I would do instead is I would ask questions like, take the position of a such

637
00:40:33.820 --> 00:40:35.240
and such.

638
00:40:35.240 --> 00:40:39.140
You have a challenge coming up in a week.

639
00:40:39.140 --> 00:40:48.640
Create 10 marketing campaign sentences that are highly enthusiastic, encourages other

640
00:40:48.640 --> 00:40:51.780
people to join, and covers the following.

641
00:40:51.780 --> 00:40:58.100
And then you get those things, and then you modify them to make it the way that you want.

642
00:40:58.100 --> 00:41:01.980
So what you do is, now you take the first draft, and then you take that first draft

643
00:41:01.980 --> 00:41:08.420
of one of the lines that you like, and then you type in that one line, and you say, change

644
00:41:08.420 --> 00:41:13.780
it into this kind of voice, or change it to appeal to this kind of audience, and it changes

645
00:41:13.780 --> 00:41:14.780
it again.

646
00:41:14.780 --> 00:41:17.980
And then you tweak and you tweak and you tweak until you come out with something that you

647
00:41:17.980 --> 00:41:21.060
actually want to use going forward.

648
00:41:21.500 --> 00:41:24.980
If you're using these platforms to create that, you can't own it.

649
00:41:24.980 --> 00:41:28.180
But quite frankly, I don't care.

650
00:41:28.180 --> 00:41:29.220
I don't care if I can own it.

651
00:41:29.220 --> 00:41:32.380
I don't care if I can own my ad.

652
00:41:32.380 --> 00:41:34.220
I'm looking to draw people in.

653
00:41:34.220 --> 00:41:39.140
My goal, my long-term goal, is to train one million entrepreneurs on understanding how

654
00:41:39.140 --> 00:41:44.940
to protect what they've created, what they've been inspired to receive by God, and not to

655
00:41:44.940 --> 00:41:46.020
get sued.

656
00:41:46.020 --> 00:41:48.740
That's my long-term goal, right?

657
00:41:48.740 --> 00:41:54.180
And so, if I create an ad that somebody else can use, well, great, I don't care.

658
00:41:54.180 --> 00:41:55.180
It doesn't bother me.

659
00:41:55.180 --> 00:41:57.940
So, by all means, use those platforms all you want.

660
00:41:57.940 --> 00:42:04.420
The only thing I would say, Deb, and others, to double-check on is, if you use those things,

661
00:42:04.420 --> 00:42:12.580
the languages commercially, if you use them for commercial use, open AI, hereby signs

662
00:42:12.580 --> 00:42:13.580
of...

663
00:42:13.580 --> 00:42:14.580
Yes.

664
00:42:14.580 --> 00:42:15.580
Yes, Rick.

665
00:42:16.020 --> 00:42:17.020
Yes.

666
00:42:17.020 --> 00:42:18.020
Yes, Rick.

667
00:42:18.020 --> 00:42:19.020
That's exactly right.

668
00:42:19.020 --> 00:42:21.020
That's the language you want to see.

669
00:42:21.020 --> 00:42:23.020
So, if you...

670
00:42:23.020 --> 00:42:24.020
Yeah, unmute, Rick.

671
00:42:24.020 --> 00:42:27.020
Rick, can you talk for a second?

672
00:42:30.020 --> 00:42:32.020
So, Rick just typed something in the chat.

673
00:42:32.020 --> 00:42:34.020
So, this is what you're looking for.

674
00:42:34.020 --> 00:42:41.020
So, what you're looking for is legal language in these agreements that say that they assign,

675
00:42:41.460 --> 00:42:45.960
I'll write title and interest over to you, or you have permission to use these things

676
00:42:45.960 --> 00:42:47.960
for commercial purposes.

677
00:42:47.960 --> 00:42:48.960
Okay?

678
00:42:48.960 --> 00:42:51.960
So, that language that you typed in, Rick, where'd you get that?

679
00:42:51.960 --> 00:42:53.960
Or is that something you just typed up?

680
00:42:53.960 --> 00:42:54.960
No, I just...

681
00:42:54.960 --> 00:42:55.960
Can you hear me?

682
00:42:55.960 --> 00:42:56.960
Yep.

683
00:42:56.960 --> 00:42:57.960
Go ahead.

684
00:42:57.960 --> 00:42:58.960
I just pasted the link.

685
00:42:58.960 --> 00:43:04.960
It's openai.com, policies, terms of use, and it does use that language.

686
00:43:04.960 --> 00:43:07.960
They assign, I'll write title and interest to the output.

687
00:43:07.960 --> 00:43:08.960
Yes.

688
00:43:09.900 --> 00:43:11.900
And it says you can use it commercially.

689
00:43:11.900 --> 00:43:12.900
That's it.

690
00:43:12.900 --> 00:43:16.900
I haven't indicated if that's for the free and or paid, but I'm still reading the terms

691
00:43:16.900 --> 00:43:17.900
and conditions.

692
00:43:17.900 --> 00:43:18.900
But that's .3.

693
00:43:18.900 --> 00:43:19.900
And I believe there are multiple...

694
00:43:19.900 --> 00:43:24.900
What you're going to find is multiple of these programs have two tiers.

695
00:43:24.900 --> 00:43:27.900
They have the free version, and then they have the paid version.

696
00:43:27.900 --> 00:43:30.900
The paid version gives you the stuff that you're talking about.

697
00:43:30.900 --> 00:43:35.900
We hereby assign, I'll write title and interest over to you by OpenAI or whomever else.

698
00:43:35.900 --> 00:43:37.900
You have the right to use this commercially.

699
00:43:38.840 --> 00:43:44.840
And then the other version that is not the paid version typically will say that you have

700
00:43:44.840 --> 00:43:50.840
the right to use this for quote unquote personal use, but not for commercial use.

701
00:43:50.840 --> 00:43:53.840
So look for that exact language that Rick highlighted.

702
00:43:53.840 --> 00:43:55.840
That's the language that you want to find.

703
00:43:55.840 --> 00:44:01.840
And in fact, you can probably search for the word commercial on any of these policies,

704
00:44:01.840 --> 00:44:05.840
and it'll probably bring you right to where the language is on them.

705
00:44:05.840 --> 00:44:06.840
Yeah, that's what I did.

706
00:44:07.780 --> 00:44:10.780
I said, find commercial, and it took me straight to that paragraph.

707
00:44:10.780 --> 00:44:11.780
Oh, there you go.

708
00:44:11.780 --> 00:44:12.780
Yeah, that's exactly it.

709
00:44:12.780 --> 00:44:13.780
Yep.

710
00:44:13.780 --> 00:44:14.780
That's the way you do it.

711
00:44:14.780 --> 00:44:15.780
I wasn't reading all of it.

712
00:44:15.780 --> 00:44:16.780
Believe me.

713
00:44:16.780 --> 00:44:17.780
That's good.

714
00:44:17.780 --> 00:44:18.780
That's really good, Rick.

715
00:44:18.780 --> 00:44:19.780
That's exactly what you want to do.

716
00:44:19.780 --> 00:44:24.780
So think about it this way, is that like, who cares about any of this stuff?

717
00:44:24.780 --> 00:44:30.780
Well, your marketing teams, the people that you're hiring to run ads, the people that

718
00:44:30.780 --> 00:44:35.780
you're hiring to do any marketing campaigns, they're using these tools.

719
00:44:36.720 --> 00:44:39.720
I mean, I know because I know a lot of people in the field, right?

720
00:44:39.720 --> 00:44:44.720
And so I've asked them, and they're all saying, yeah, we're using them.

721
00:44:44.720 --> 00:44:50.720
Like, do you realize that a lot of the video editing that's being done right now is automated?

722
00:44:50.720 --> 00:44:51.720
No.

723
00:44:51.720 --> 00:44:58.720
A lot of times you're paying somebody like, I don't know, like, let's say like 100 bucks

724
00:44:58.720 --> 00:44:59.720
a video.

725
00:45:00.000 --> 00:45:07.520
And what they're doing is they're taking your larger video. They're running it into a program and that program spitting out like

726
00:45:08.760 --> 00:45:13.760
3040-second segments with all the text already done, and then they're just tweaking it

727
00:45:15.280 --> 00:45:21.840
Like this is happening right now guys like there are programs. I mean the one ray the one that you forwarded me

728
00:45:22.980 --> 00:45:26.800
Not the one you forwarded me yesterday, but the one that there was one that you mentioned before

729
00:45:26.800 --> 00:45:31.440
I actually had already been using that because I actually saw that in a commercial and

730
00:45:32.400 --> 00:45:38.600
It was on tick-tock, and I was flicking through tick-tock, and I saw that thing and I tried it out

731
00:45:38.600 --> 00:45:40.600
I took one of our own

732
00:45:40.840 --> 00:45:46.920
Protect your idea challenge days. I uploaded in that and came up with like 20 different

733
00:45:48.420 --> 00:45:50.120
20 different

734
00:45:50.120 --> 00:45:51.920
segments

735
00:45:51.920 --> 00:45:54.720
That were created with the text already there

736
00:45:55.520 --> 00:46:01.520
With the images already there, but he was done, and then it gives you a rating it says this has a

737
00:46:03.160 --> 00:46:05.160
What

738
00:46:06.000 --> 00:46:09.800
Well here's the problem with that is that the majority of them were garbage

739
00:46:10.720 --> 00:46:17.420
The majority of them you know it's it's trying to anticipate where subject matter starts and ends the majority of them were garbage

740
00:46:17.420 --> 00:46:23.900
There were like maybe two or three that were salvageable, and they would have to be worked on so it's a good starting point

741
00:46:23.900 --> 00:46:25.900
and honestly

742
00:46:26.020 --> 00:46:29.660
Just so you guys know if you're trying to build social media presence

743
00:46:29.900 --> 00:46:35.380
These algorithms were the way a lot of these are working is they're looking to see if you're posting something once a day

744
00:46:35.460 --> 00:46:37.060
Like every day

745
00:46:37.060 --> 00:46:40.380
It doesn't care about the quality of the garbage that you're putting up there

746
00:46:41.140 --> 00:46:45.820
Like I've seen such garbage being pushed out by people who are well known in social media

747
00:46:46.500 --> 00:46:48.500
like

748
00:46:48.500 --> 00:46:53.900
Illegally wrong things things that are just bad observations a waste of time

749
00:46:54.260 --> 00:46:57.700
Yet they they have like hundreds of thousands of followers

750
00:46:58.140 --> 00:47:05.980
Because they're posting literally every single day so the algorithm is putting them in front of other people faster exactly

751
00:47:05.980 --> 00:47:07.980
It's a machine

752
00:47:08.300 --> 00:47:11.820
So what you can actually do is you can automate your postings

753
00:47:12.580 --> 00:47:18.700
You can actually if all you care about doing is creating a big social media presence and getting hundreds of thousands of followers

754
00:47:19.020 --> 00:47:23.220
You're at least tens of thousands of followers to get the hundreds of thousands you got to have something to offer

755
00:47:23.500 --> 00:47:26.300
But if you want tens of thousands of followers very fast

756
00:47:26.860 --> 00:47:30.280
You can just like use these systems create videos

757
00:47:30.580 --> 00:47:37.460
create an automated program to upload these things for you is the Instagram and onto a YouTube channel and

758
00:47:38.460 --> 00:47:43.060
Boom you're cracking the algorithm and all of a sudden you're getting boosted and

759
00:47:44.500 --> 00:47:49.900
You but you're not providing anything great. It's just so why do you care about increasing the presence?

760
00:47:49.900 --> 00:47:55.060
Well, that's gonna increase the number of people that actually go into your challenge at least the people that know about you. So

761
00:47:55.620 --> 00:47:59.820
It's there is a science to it. But to bring this back home to IP

762
00:48:00.300 --> 00:48:04.180
The whole point of why I'm mentioning all this is that what you're creating?

763
00:48:04.740 --> 00:48:06.740
You have to ask yourself

764
00:48:07.740 --> 00:48:13.540
A few questions one is do I own it number two is do I care about if I own it number three is do?

765
00:48:13.540 --> 00:48:16.940
I need to spend the money protecting this thing or not

766
00:48:17.460 --> 00:48:24.740
Right. I would argue that your ads I wouldn't spend a lot of time and money on protecting your ads unless it's something that is

767
00:48:24.740 --> 00:48:26.740
like huge

768
00:48:26.900 --> 00:48:30.420
Like as an example, I did a slap video with my daughter

769
00:48:30.420 --> 00:48:36.260
That thing went viral like we had hundreds of thousands of people watching that commenting they thought it was hilarious

770
00:48:37.420 --> 00:48:44.020
My daughter thinks it's hilarious. She wants to do another video on it. I'm like, that's old. That's that's Will Smith thing is over

771
00:48:44.020 --> 00:48:50.260
She's like, yeah, but we could do a punch video now. It's like yeah. No, nothing. So the whole point being that

772
00:48:51.540 --> 00:48:54.820
Something like that. I should get a copyright for but other things

773
00:48:56.580 --> 00:48:58.820
Not really that big of a deal. All right, so

774
00:48:58.820 --> 00:49:04.940
Not really that big of a deal. All right before I start jumping into like agreements like non-disclosures non-competes

775
00:49:05.740 --> 00:49:13.420
Legal language. Let me just check first. Do you guys have any specific questions on anything that you're going through?

776
00:49:13.420 --> 00:49:16.900
What was the third statement? He said third statement

777
00:49:20.860 --> 00:49:22.860
You said do I own

778
00:49:23.420 --> 00:49:25.900
Do I care if I own then you said one more thing?

779
00:49:26.380 --> 00:49:28.700
Is it worth investing that's it

780
00:49:30.260 --> 00:49:37.740
Yeah, because the second question that you're asking which is do I care about if I own that that's gonna dictate whether or not

781
00:49:37.740 --> 00:49:39.740
You're gonna spend money on protecting anything

782
00:49:40.140 --> 00:49:42.140
If you don't care

783
00:49:43.020 --> 00:49:49.540
Don't waste the money. I mean look there are a lot the lawyers that will take your money and say yeah, let's file this

784
00:49:49.540 --> 00:49:51.540
Yeah, let's do that

785
00:49:51.940 --> 00:49:56.780
Like they're making a living they're just and they're providing you a good service the question is did you need it

786
00:49:58.700 --> 00:50:00.700
So Sam go right ahead

787
00:50:00.000 --> 00:50:02.680
It's good to see you, by the way, Sam.

788
00:50:02.680 --> 00:50:04.800
I haven't seen you in a while, buddy.

789
00:50:04.800 --> 00:50:05.640
Yeah, thanks.

790
00:50:05.640 --> 00:50:07.880
I've been underground working on stuff,

791
00:50:07.880 --> 00:50:09.760
but I've come above ground now.

792
00:50:09.760 --> 00:50:11.640
I'm actually trying to get a challenge done,

793
00:50:11.640 --> 00:50:14.560
my first challenge done in a few weeks.

794
00:50:14.560 --> 00:50:17.800
So I created-

795
00:50:17.800 --> 00:50:18.640
Nice.

796
00:50:18.640 --> 00:50:22.600
Yeah, I created this entity for this new program

797
00:50:22.600 --> 00:50:25.680
that I'm starting, and I want to,

798
00:50:25.680 --> 00:50:27.740
I don't want the,

799
00:50:27.740 --> 00:50:29.980
and I'm creating a whole bunch of intellectual property,

800
00:50:29.980 --> 00:50:33.280
and I don't want it to be in my name.

801
00:50:33.280 --> 00:50:35.240
I want it to be in an entity's name,

802
00:50:35.240 --> 00:50:36.600
but I don't necessarily want it to be

803
00:50:36.600 --> 00:50:37.640
in the entity that I'm creating.

804
00:50:37.640 --> 00:50:41.360
So I wanted to create a separate entity for operations,

805
00:50:41.360 --> 00:50:43.720
right, and a separate entity for,

806
00:50:43.720 --> 00:50:46.200
to hold the intellectual property,

807
00:50:46.200 --> 00:50:48.960
of which I'll put in a trust that I control.

808
00:50:48.960 --> 00:50:49.800
Right.

809
00:50:49.800 --> 00:50:53.800
So I'm wondering what order I go in,

810
00:50:53.800 --> 00:50:54.760
how would I do that?

811
00:50:54.760 --> 00:50:56.320
I've created the entity, can I,

812
00:50:57.960 --> 00:50:59.400
and think it's about timing.

813
00:50:59.780 --> 00:51:01.900
Can I use, for example,

814
00:51:01.900 --> 00:51:05.540
the existing entity to assign the rights to temporarily,

815
00:51:05.540 --> 00:51:08.340
and then transfer those rights to a different entity?

816
00:51:08.340 --> 00:51:09.980
Is that appropriate?

817
00:51:09.980 --> 00:51:11.660
Is that, can that be done?

818
00:51:11.660 --> 00:51:13.780
Is there anything wrong with that?

819
00:51:13.780 --> 00:51:15.300
Technically you can do that,

820
00:51:15.300 --> 00:51:17.460
just understand that

821
00:51:21.180 --> 00:51:23.140
the entity that is procuring the rights

822
00:51:23.140 --> 00:51:25.260
is going to incur the costs.

823
00:51:25.260 --> 00:51:26.660
So it becomes a tax write-off

824
00:51:26.660 --> 00:51:29.020
for the entity that incurs the cost, right?

825
00:51:29.560 --> 00:51:31.560
Now, if they're all owned by you as LLCs,

826
00:51:31.560 --> 00:51:32.400
none of the,

827
00:51:35.080 --> 00:51:37.360
you're the one that's going to incur the taxes anyway.

828
00:51:37.360 --> 00:51:38.200
So it,

829
00:51:42.120 --> 00:51:43.600
Peter, you're cutting out.

830
00:51:47.160 --> 00:51:48.440
That's,

831
00:51:48.440 --> 00:51:50.020
Hello?

832
00:51:50.020 --> 00:51:52.420
Peter, you're cut, you're cutting out pretty bad.

833
00:51:53.720 --> 00:51:54.600
And freezing.

834
00:51:54.660 --> 00:51:55.500
Okay.

835
00:51:58.020 --> 00:51:58.960
He's still going.

836
00:52:01.140 --> 00:52:01.980
Oh, this is good.

837
00:52:01.980 --> 00:52:04.900
This means that this is an important response.

838
00:52:04.900 --> 00:52:05.820
Right.

839
00:52:07.460 --> 00:52:09.500
Sam, I do have a resource I can send you.

840
00:52:09.500 --> 00:52:11.940
I'll message you on Facebook.

841
00:52:11.940 --> 00:52:12.760
I'll send you something.

842
00:52:12.760 --> 00:52:13.600
Okay.

843
00:52:13.600 --> 00:52:14.440
Yeah.

844
00:52:14.440 --> 00:52:15.260
Excellent.

845
00:52:15.260 --> 00:52:16.100
Thank you.

846
00:52:16.100 --> 00:52:16.940
There you go.

847
00:52:16.940 --> 00:52:17.760
Hey, Peter.

848
00:52:17.760 --> 00:52:18.600
Yeah, we're all good.

849
00:52:18.600 --> 00:52:19.440
Yeah.

850
00:52:20.700 --> 00:52:21.540
All right.

851
00:52:23.540 --> 00:52:24.580
Yeah.

852
00:52:25.400 --> 00:52:27.120
Yeah, you're in an unstable again.

853
00:52:27.120 --> 00:52:27.940
Oh, nope.

854
00:52:27.940 --> 00:52:28.780
You're frozen again.

855
00:52:34.360 --> 00:52:35.200
All right, I'm going to,

856
00:52:35.200 --> 00:52:36.020
let me go in here.

857
00:52:36.020 --> 00:52:37.560
So there's no reason for this to be happening.

858
00:52:37.560 --> 00:52:39.400
Literally, there's no reason for this to be happening

859
00:52:39.400 --> 00:52:41.320
because my computer inside

860
00:52:41.320 --> 00:52:43.960
is equidistant to where I am outside.

861
00:52:43.960 --> 00:52:45.800
So there's no,

862
00:52:49.320 --> 00:52:52.280
Something's interfering or a battery isn't,

863
00:52:52.660 --> 00:52:54.400
charged up enough or something.

864
00:52:56.140 --> 00:52:57.820
Breaking up, except this must be an important issue

865
00:52:57.820 --> 00:52:58.660
of some sorts.

866
00:52:59.660 --> 00:53:00.500
Everything's connected.

867
00:53:00.500 --> 00:53:02.060
So I'm not sure what that is, but let me,

868
00:53:02.060 --> 00:53:02.900
let me log in.

869
00:53:02.900 --> 00:53:03.720
Hold on.

870
00:53:03.720 --> 00:53:04.560
I'm going to jump.

871
00:53:04.560 --> 00:53:05.400
Larissa, are you here?

872
00:53:05.400 --> 00:53:06.500
Yeah, you are.

873
00:53:06.500 --> 00:53:07.340
All right.

874
00:53:07.340 --> 00:53:08.180
I'm going to log out and log back in.

875
00:53:08.180 --> 00:53:09.420
I'm going to log out and log back in.

876
00:53:09.420 --> 00:53:10.260
All right.

877
00:53:10.260 --> 00:53:11.100
Gotcha.

878
00:53:11.100 --> 00:53:11.920
Bye-bye.

879
00:53:11.920 --> 00:53:12.760
Bye-bye.

880
00:53:20.680 --> 00:53:22.840
Rick, did you see what I responded to

881
00:53:22.840 --> 00:53:24.480
just by reading the terms and conditions

882
00:53:24.480 --> 00:53:26.920
that you posted about your membership?

883
00:53:26.920 --> 00:53:28.880
And folks, if you saw Rick's question,

884
00:53:28.880 --> 00:53:30.640
this is where it becomes really important

885
00:53:30.640 --> 00:53:32.320
to read the terms and conditions

886
00:53:32.320 --> 00:53:33.860
of these programs you're using,

887
00:53:33.860 --> 00:53:35.400
how you're using it.

888
00:53:35.400 --> 00:53:37.740
Because I seem to find,

889
00:53:39.200 --> 00:53:40.040
you know, Rick had asked,

890
00:53:40.040 --> 00:53:41.560
what about what I'm uploading?

891
00:53:42.520 --> 00:53:44.400
And we have done two AI workshops now

892
00:53:44.400 --> 00:53:47.520
and a challenge where Peter's highly touched on this,

893
00:53:48.640 --> 00:53:51.120
where you want to know what you're using.

894
00:53:51.120 --> 00:53:52.920
You want to know the terms and conditions

895
00:53:52.920 --> 00:53:54.200
when you are uploading,

896
00:53:54.200 --> 00:53:56.760
like chapters of books or a serious,

897
00:53:56.760 --> 00:53:57.880
it's already copyrighted.

898
00:53:57.880 --> 00:53:59.200
It's copyrighted.

899
00:53:59.200 --> 00:54:02.640
But you could be opening yourself up to,

900
00:54:02.640 --> 00:54:04.560
you know, the algorithms

901
00:54:04.560 --> 00:54:06.200
and releasing some protections,

902
00:54:06.200 --> 00:54:08.920
depending on the terms and conditions

903
00:54:08.920 --> 00:54:12.620
of your subscription to any of these AI you're using.

904
00:54:12.620 --> 00:54:14.440
It's not like Microsoft Office

905
00:54:14.440 --> 00:54:17.240
where you buy your subscription

906
00:54:17.240 --> 00:54:19.200
or your licensing

907
00:54:19.200 --> 00:54:21.160
and anything you create in Microsoft Word

908
00:54:21.160 --> 00:54:22.240
is your document

909
00:54:23.280 --> 00:54:26.000
or Sheets or Excel or whatever.

910
00:54:26.000 --> 00:54:28.520
But if you put it out there to the world,

911
00:54:28.520 --> 00:54:33.520
you know, it could be open to scrubbing.

912
00:54:33.940 --> 00:54:34.880
If I have this wrong,

913
00:54:34.880 --> 00:54:36.920
Ray's going to comment on that.

914
00:54:37.840 --> 00:54:39.360
Well, yeah, it's data scraping,

915
00:54:39.360 --> 00:54:41.840
but basically you are also opening yourself up

916
00:54:41.840 --> 00:54:44.760
to infringing on some of the things

917
00:54:44.760 --> 00:54:46.680
that it's collectively pulled

918
00:54:46.680 --> 00:54:48.960
and contributed into your new works as well,

919
00:54:48.960 --> 00:54:51.000
could be somebody else's copyrights.

920
00:54:52.320 --> 00:54:53.400
Just to,

921
00:54:54.320 --> 00:54:55.360
Eileen, are you here?

922
00:54:55.360 --> 00:54:56.720
Oh, there you go.

923
00:54:56.720 --> 00:54:59.360
So I'm not sure if everybody saw this,

924
00:54:59.360 --> 00:55:00.200
but yesterday was,

925
00:55:00.000 --> 00:55:05.440
Eileen birthday. We're gonna say happy birthday. While we wait,

926
00:55:05.440 --> 00:55:08.320
sorry to change subjects, but just want to make sure we wished

927
00:55:08.320 --> 00:55:09.640
you a happy birthday in there.

928
00:55:11.040 --> 00:55:13.720
And Rick put on the money hat for you. I don't know what that

929
00:55:13.720 --> 00:55:13.800
means.

930
00:55:16.640 --> 00:55:18.760
We hope you had a really, really great birthday.

931
00:55:20.480 --> 00:55:25.760
I did. All day, but super good. Yeah, thank you.

932
00:55:26.720 --> 00:55:30.480
You're welcome. Well, I'm glad you had a good birthday. And

933
00:55:30.600 --> 00:55:33.400
Peter's getting back on here. And Peter, we just wished Eileen

934
00:55:33.400 --> 00:55:35.240
a happy birthday. Her birthday was yesterday.

935
00:55:37.440 --> 00:55:39.360
Oh, you are muted.

936
00:55:40.120 --> 00:55:43.840
Well, he's unmuted. But I don't think he's connected properly.

937
00:55:44.440 --> 00:55:45.080
Yeah.

938
00:55:48.960 --> 00:55:53.400
This is kind of crazy. This is this is a little foreboding.

939
00:55:53.760 --> 00:55:56.960
I don't usually have issues at all. So this must be an

940
00:55:56.960 --> 00:55:58.160
important issue.

941
00:56:00.080 --> 00:56:01.960
So happy birthday, Eileen.

942
00:56:02.200 --> 00:56:03.320
Thank you.

943
00:56:03.360 --> 00:56:05.160
Still look 29. That's so good.

944
00:56:08.240 --> 00:56:09.560
Are you going to Portugal?

945
00:56:10.000 --> 00:56:14.360
Yes, you are. Cool. Yeah, we'll be hanging out together. Yes.

946
00:56:15.240 --> 00:56:18.920
I'm looking forward to it. Um, yeah, so let me jump into your

947
00:56:18.920 --> 00:56:22.280
situation. So what's what's kind of funny is like, literally, the

948
00:56:22.280 --> 00:56:26.440
routers there. So I don't know what in the world going on. But

949
00:56:26.440 --> 00:56:31.600
it is what it is. So um, this is an issue that a few people

950
00:56:31.600 --> 00:56:36.560
actually had, which is, what do you put? What asset do you put

951
00:56:36.560 --> 00:56:40.280
within which entity? And which entity should be filing for

952
00:56:40.280 --> 00:56:46.160
what? Right? So I mean, number one, I'm not a corporate lawyer.

953
00:56:46.160 --> 00:56:49.000
But I can tell you that I've been doing this a very long time.

954
00:56:49.000 --> 00:56:53.040
So I know how this stuff works. And this is not legal advice. But

955
00:56:53.040 --> 00:56:56.680
my Oh, I do have water. I have water literally everywhere in the

956
00:56:56.680 --> 00:56:59.920
house, apparently. So I was like, I don't have water. Yes, I do.

957
00:57:02.120 --> 00:57:04.680
There we go. All right. All right. So

958
00:57:06.600 --> 00:57:10.640
the entity that actually incurs the fees is the one that's going

959
00:57:10.640 --> 00:57:13.000
to get the tax write off. So that's the first part to

960
00:57:13.000 --> 00:57:19.240
remember, okay. So if there's some kind of desire to have a

961
00:57:19.240 --> 00:57:24.600
write off within ABC company, let's say ABC company is making a

962
00:57:24.600 --> 00:57:28.080
lot of money that year. So you want to actually have the

963
00:57:28.080 --> 00:57:33.440
expenses for the IP be incurred by ABC company, because then you

964
00:57:33.440 --> 00:57:36.840
can write off that amount of money, which will offset the

965
00:57:36.840 --> 00:57:41.680
profits of ABC company. So there's a strategy to which

966
00:57:41.680 --> 00:57:46.080
entity you actually have doing the IP filing, because that is,

967
00:57:46.920 --> 00:57:49.360
it's considered an expense of the company, you can write it

968
00:57:49.360 --> 00:57:51.440
off. But separate from that,

969
00:57:54.160 --> 00:57:58.000
you can technically put it in the name of ABC company first

970
00:57:58.000 --> 00:58:02.720
before before, you know, the other entities created, and you

971
00:58:02.720 --> 00:58:04.800
can just transfer all right title and interest through an

972
00:58:04.800 --> 00:58:08.440
assignment of all right title and interest. You can do that.

973
00:58:09.280 --> 00:58:10.960
Just keep in mind that

974
00:58:12.600 --> 00:58:18.960
when you transfer assets between entities, if there's some kind

975
00:58:18.960 --> 00:58:21.760
of evaluation that's done, like some kind of valuation of the

976
00:58:21.760 --> 00:58:27.040
new company, the IP is an intangible asset and has actual

977
00:58:27.040 --> 00:58:27.640
value.

978
00:58:29.240 --> 00:58:32.520
Which means when you transfer all right title and interest to

979
00:58:32.520 --> 00:58:37.200
that new entity, the new entity now has a higher valuation

980
00:58:37.240 --> 00:58:42.320
because that IP is part of that new entity. So what people

981
00:58:42.320 --> 00:58:46.040
typically look at in assigning IP is they're looking at the

982
00:58:46.040 --> 00:58:50.360
liability part, but they don't look at the tax issues. So just

983
00:58:50.400 --> 00:58:53.960
consider the tax issues too. So yes, by all means, you can

984
00:58:53.960 --> 00:58:56.680
start it out in your name, you can start it out in another

985
00:58:56.680 --> 00:59:01.680
entity's name. If they're all LLCs at the end of the day, you

986
00:59:01.680 --> 00:59:05.920
know, it's all going to be equated to you anyway. You know,

987
00:59:05.920 --> 00:59:09.000
because as an example, I have AD challenges, plus I have

988
00:59:09.000 --> 00:59:14.880
nearest IP law group. So when people take an IP audit, the

989
00:59:14.880 --> 00:59:18.160
funds are going into AD challenges. But then I'm

990
00:59:18.160 --> 00:59:23.240
transferring certain funds over to give us IP law group to

991
00:59:23.240 --> 00:59:27.400
handle the legal work, right. But at the end of the day, when

992
00:59:27.400 --> 00:59:31.320
I do my taxes, it's all going to come down to me anyway. Because

993
00:59:31.320 --> 00:59:35.720
because if AD challenges made, you know, was break even, but

994
00:59:35.720 --> 00:59:42.200
you have this IP law group made, you know, $600,000. And I

995
00:59:42.200 --> 00:59:48.520
personally made $150,000 that all those numbers are going to

996
00:59:48.520 --> 00:59:51.360
be, they're going to put it all within one big equation, and

997
00:59:51.360 --> 00:59:52.920
they're going to come at me and they're going to say you're

998
00:59:52.920 --> 00:59:57.880
responsible for this, this and this. So, you know, at the end

999
00:59:57.880 --> 00:59:59.880
of the day for you, the answer

1000
01:00:00.000 --> 01:00:04.480
question is yes, you can have it done in one entity's name and then transfer it to another.

1001
01:00:04.480 --> 01:00:11.360
That's easy. It's an assignment document. You can type on Google USPTO assignment

1002
01:00:12.480 --> 01:00:17.760
recordation and it'll pop up for the USPTO site. I can actually show you guys how to record an

1003
01:00:17.760 --> 01:00:24.960
assignment on the USPTO website. It's pretty cool. You're just going to need a legal assignment

1004
01:00:25.840 --> 01:00:30.720
document. Do you have one of those? You have to unmute.

1005
01:00:34.160 --> 01:00:43.360
I think I do have one. So does it matter if I just put it in my name?

1006
01:00:43.360 --> 01:00:51.040
Part of it, if I just start off, just incorporate and say a copyright with my name or do I just put

1007
01:00:51.120 --> 01:00:54.640
it in the, does it make a difference if I just use that entity and then transfer it to another

1008
01:00:54.640 --> 01:00:57.520
entity? Does it make a difference? I would put it in an entity's name,

1009
01:00:57.520 --> 01:01:03.440
not your name for liability purposes. If you do it in your own name first and then somebody else

1010
01:01:03.440 --> 01:01:08.880
sees a recordation in your name and something happens IP wise and you get sued personally,

1011
01:01:09.920 --> 01:01:15.920
it was in your name first. So there's a potential for liability. But if you put it in the entity's

1012
01:01:15.920 --> 01:01:20.640
name, that's why you created the entity in the first place to shelter you and your personal

1013
01:01:20.640 --> 01:01:29.120
finances. So I would not legal advice, but I would put it in your own. I'll put it in your

1014
01:01:29.120 --> 01:01:33.280
own company's name, not in your name because that's the reason why you created the entity

1015
01:01:33.280 --> 01:01:40.000
in the first place. Got it. Rick. Thank you. Oh, you're welcome, Sam.

1016
01:01:41.840 --> 01:01:47.520
Thank you, sir. Well, you just brought up a second question then. So would it behoove me to

1017
01:01:47.520 --> 01:01:54.160
have a entity that covers, I just call everything Rick Tarrant productions right now, and it's not

1018
01:01:54.160 --> 01:02:00.480
an LLC, it's just me doing business as would it behoove me then not legal advice, but in your

1019
01:02:00.480 --> 01:02:06.720
opinion, as a friend to have an entity, an umbrella say, I like the name on the radio

1020
01:02:06.720 --> 01:02:11.920
productions because my background is radio. Could that cover Rick Tarrant voiceover God's affirming

1021
01:02:11.920 --> 01:02:21.040
words? As far as ownership for liability, or if I accidentally, you know, infringe somebody's

1022
01:02:21.040 --> 01:02:26.640
copyright or whatnot, would that be this? Would you advise I just do everything under owned by

1023
01:02:26.640 --> 01:02:30.880
on the radio productions? You know what I think I'm going to do for the next protection portal?

1024
01:02:30.880 --> 01:02:34.160
I got a friend of mine who's a corporate lawyer. I'm going to see if she can join us.

1025
01:02:35.040 --> 01:02:40.800
Okay, that'd be cool. A bunch of questions. That will wait. Yeah. But I can answer your question

1026
01:02:40.800 --> 01:02:44.880
now. But okay, but since I'm noticing a number of people have some corporate questions, too.

1027
01:02:45.600 --> 01:02:51.120
I think I'm going to do is reach out to her. Because she's a very good corporate lawyer.

1028
01:02:51.120 --> 01:02:57.920
And she works a lot with entrepreneurs, startups. And then she can just answer a bunch of questions.

1029
01:02:57.920 --> 01:03:07.280
I think that would be wonderful. So alright, so to answer your question, let me look at my

1030
01:03:07.280 --> 01:03:14.240
own scenario, right? So this is not legal advice. This is like me, she's me. Oh, man. I'm gonna get

1031
01:03:14.240 --> 01:03:19.520
drunk today. I've said, Am I infringing your trademark? I put not legal advice on my water

1032
01:03:19.520 --> 01:03:30.880
bottle. Am I in trouble? I love it. I love it. It's good. So the intent of having these entities

1033
01:03:30.880 --> 01:03:40.640
is to shelter what we have, right? What's been given to us. And so that's why a form like an LLC,

1034
01:03:40.640 --> 01:03:49.440
S Corp, C Corp, whatever it is that's created, right? So if I just have myself doing business as

1035
01:03:49.440 --> 01:03:58.800
such and such, I don't believe that provides the same amount of protection as having

1036
01:03:59.440 --> 01:04:04.400
an actual corporation. Yeah, so if somebody sues me, they can wipe out my savings,

1037
01:04:04.400 --> 01:04:10.320
right? Because everything is me. Right. But if you instead do like what Sam was talking about,

1038
01:04:10.320 --> 01:04:16.240
so you put it in the name of an entity, you can be a sole proprietorship, like I'm a sole

1039
01:04:16.240 --> 01:04:24.400
proprietorship for my law firm and for AD challenges. Right? And so I'm the manager, I'm the owner,

1040
01:04:24.480 --> 01:04:31.120
you know, and I run all these entities, but all the training, all the teaching is done under AD

1041
01:04:31.120 --> 01:04:40.800
challenges. You know, the audits are done by the law firm, right? So it's separated by the specific

1042
01:04:40.800 --> 01:04:48.800
task. One of the reasons why you create entities actually is also for the public, for the public to

1043
01:04:48.800 --> 01:04:57.120
be able to know what you do just by the name, right? So not just that the name is descriptive,

1044
01:04:57.120 --> 01:04:59.840
because you don't want a descriptive name. Descriptive names aren't even...

1045
01:05:00.000 --> 01:05:01.980
registrable as trademarks.

1046
01:05:01.980 --> 01:05:04.460
But you want to make sure that they identify

1047
01:05:04.460 --> 01:05:08.020
a name with a service.

1048
01:05:08.020 --> 01:05:10.300
If you have like 50 different services that

1049
01:05:10.300 --> 01:05:11.820
are provided under a single name,

1050
01:05:11.820 --> 01:05:14.980
it can get kind of confusing.

1051
01:05:14.980 --> 01:05:18.460
This is why, why doesn't Microsoft just say,

1052
01:05:18.460 --> 01:05:20.620
this is Microsoft program number one,

1053
01:05:20.620 --> 01:05:22.340
this is Microsoft program number two,

1054
01:05:22.340 --> 01:05:24.300
this is Microsoft program number three.

1055
01:05:24.300 --> 01:05:26.300
They don't do that because they want you to hit

1056
01:05:26.300 --> 01:05:29.900
a name Microsoft Word, and now, oh, that's word processing.

1057
01:05:29.900 --> 01:05:31.060
I need that thing.

1058
01:05:31.060 --> 01:05:33.340
Microsoft Excel, oh, those are spreadsheets.

1059
01:05:33.340 --> 01:05:34.500
I need that thing.

1060
01:05:34.500 --> 01:05:37.740
Just by the name alone, you immediately

1061
01:05:37.740 --> 01:05:40.740
identify certain services or quality

1062
01:05:40.740 --> 01:05:42.860
of products that's provided.

1063
01:05:42.860 --> 01:05:45.940
So same thing with your businesses.

1064
01:05:45.940 --> 01:05:48.740
When you're creating entities, there

1065
01:05:48.740 --> 01:05:51.000
should be some logic to what's created.

1066
01:05:51.000 --> 01:05:53.540
And a number of you who have actually done IP audits with me,

1067
01:05:53.540 --> 01:05:56.740
this has been one of the biggest issues that's come up,

1068
01:05:56.740 --> 01:06:00.420
is people have multiple things that they're pursuing,

1069
01:06:00.420 --> 01:06:03.820
but they don't know what belongs where.

1070
01:06:03.820 --> 01:06:10.540
So there's a cleaning service, there's a mentoring program,

1071
01:06:10.540 --> 01:06:18.020
there's a book, and there's a software program.

1072
01:06:18.020 --> 01:06:22.260
And they're like, ABC company, like they put it all together

1073
01:06:22.260 --> 01:06:23.660
and like, this is ABC company.

1074
01:06:23.660 --> 01:06:25.940
And you're like, hold it, ABC company is cleaning?

1075
01:06:25.940 --> 01:06:29.780
They have e-books, they have training, and they have like,

1076
01:06:29.780 --> 01:06:30.660
what?

1077
01:06:30.660 --> 01:06:33.060
It doesn't make sense logically.

1078
01:06:33.060 --> 01:06:35.500
So you want to figure out which of your services

1079
01:06:35.500 --> 01:06:37.740
actually belong together, then create an entity

1080
01:06:37.740 --> 01:06:39.300
to have that service.

1081
01:06:39.300 --> 01:06:41.020
But then separate from that, you also

1082
01:06:41.020 --> 01:06:43.900
want to think liability purposes.

1083
01:06:43.900 --> 01:06:48.580
So where do you have the most potential for exposure,

1084
01:06:48.580 --> 01:06:50.140
legally?

1085
01:06:50.140 --> 01:06:53.940
Like if you come up with new software,

1086
01:06:53.940 --> 01:06:56.740
and there's like, I have a brand new software,

1087
01:06:56.740 --> 01:06:58.820
and I want to create that software program,

1088
01:06:58.820 --> 01:07:01.460
and I want to bring that out to the public,

1089
01:07:01.460 --> 01:07:04.100
there's a higher level of potential liability

1090
01:07:04.100 --> 01:07:07.060
for creating a software program.

1091
01:07:07.060 --> 01:07:08.700
Because there may be a patent that

1092
01:07:08.700 --> 01:07:12.500
covers the same method, or the system that's utilized,

1093
01:07:12.500 --> 01:07:14.820
or an apparatus that uses the software.

1094
01:07:14.820 --> 01:07:18.220
So there's a higher level of potential exposure

1095
01:07:18.220 --> 01:07:21.300
for some kind of invention, some kind of system,

1096
01:07:21.300 --> 01:07:23.580
some kind of method that's being implemented

1097
01:07:23.580 --> 01:07:26.380
in a software program.

1098
01:07:26.380 --> 01:07:29.940
So for that reason, it's very common

1099
01:07:29.940 --> 01:07:32.740
that legal rights associated with patents

1100
01:07:32.740 --> 01:07:34.940
are going to be in a separate entity.

1101
01:07:34.940 --> 01:07:38.100
That's just most people that have a company

1102
01:07:38.100 --> 01:07:43.100
want the IP in a separate entity for specific reasons.

1103
01:07:43.100 --> 01:07:45.180
One is tax write-off, but the other one

1104
01:07:45.180 --> 01:07:46.860
is potential liability.

1105
01:07:46.860 --> 01:07:51.020
So in your case, Rick, you've got like the voice work

1106
01:07:51.020 --> 01:07:55.860
that you do, well, that's essentially who you are.

1107
01:07:55.860 --> 01:07:59.460
I mean, that's not really separate from you, right?

1108
01:07:59.460 --> 01:08:02.660
And so, but let's say that you were also

1109
01:08:02.660 --> 01:08:09.220
doing some kind of training, or let's say like you have a,

1110
01:08:09.220 --> 01:08:13.420
yeah, you're doing some kind of training on marketing.

1111
01:08:13.420 --> 01:08:16.100
Let's say you're doing training on marketing, right?

1112
01:08:16.100 --> 01:08:18.740
And you call it how to find your voice.

1113
01:08:18.819 --> 01:08:22.420
Even though you do voice work, you also

1114
01:08:22.420 --> 01:08:24.819
have a separate training on marketing

1115
01:08:24.819 --> 01:08:27.500
called how to find your voice.

1116
01:08:27.500 --> 01:08:29.500
Yeah, the name voice is kind of similar,

1117
01:08:29.500 --> 01:08:33.740
but the marketing thing has nothing to do with the training.

1118
01:08:33.740 --> 01:08:36.939
I mean, it has nothing to do with the voice work that you do.

1119
01:08:36.939 --> 01:08:39.460
So you might want to keep them separate,

1120
01:08:39.460 --> 01:08:42.420
depending on potential liability.

1121
01:08:42.420 --> 01:08:44.899
But I can tell you, I've seen many times people

1122
01:08:44.899 --> 01:08:48.620
have a single entity that does five different things,

1123
01:08:48.620 --> 01:08:50.220
and they do just fine.

1124
01:08:50.220 --> 01:08:54.380
But where I see, where I find big problems

1125
01:08:54.380 --> 01:08:56.620
is where they do so many things in the public,

1126
01:08:56.620 --> 01:08:58.500
just the message is lost.

1127
01:08:58.500 --> 01:09:03.540
They don't know who the heck is, like this guy is doing like,

1128
01:09:03.540 --> 01:09:08.620
you know, building rockets, cleaning houses.

1129
01:09:08.620 --> 01:09:14.180
He's a chef on the weekend, and like he has a, what do you

1130
01:09:14.180 --> 01:09:17.620
call it, he has a nursery as well for taking care of kids.

1131
01:09:18.580 --> 01:09:21.060
That can't have a single name.

1132
01:09:21.060 --> 01:09:23.700
It just makes no sense, unless you want to call it mixed up.

1133
01:09:23.700 --> 01:09:26.819
Like that might be a good name, but besides that,

1134
01:09:26.819 --> 01:09:28.899
it just doesn't make a lot of sense.

1135
01:09:28.899 --> 01:09:31.260
What was your other question?

1136
01:09:31.260 --> 01:09:37.420
So on the IP realm, I hire a songwriter and composer

1137
01:09:37.420 --> 01:09:41.020
to create the atmosphere tracks underneath my narrations,

1138
01:09:41.020 --> 01:09:43.300
you know, the scripture meditation stuff.

1139
01:09:43.300 --> 01:09:47.340
So on the last invoice, and I'll put the verbiage in the chat

1140
01:09:47.380 --> 01:09:50.740
here, I had him include this in his invoice,

1141
01:09:50.740 --> 01:09:53.420
that this composition is considered work for hire,

1142
01:09:53.420 --> 01:09:56.140
all right, title and interest to this is transferred

1143
01:09:56.140 --> 01:09:59.660
to Rick Tarrant Productions upon receipt of payment in full.

1144
01:10:00.000 --> 01:10:03.940
that legal and binding as an invoice, I pay him my covered,

1145
01:10:03.940 --> 01:10:05.560
or do we have to have a contract

1146
01:10:05.560 --> 01:10:07.600
and all the party of the first part agrees

1147
01:10:07.600 --> 01:10:09.320
with the party of the second part and all that stuff?

1148
01:10:09.320 --> 01:10:10.400
It's a good question.

1149
01:10:10.400 --> 01:10:12.640
What I would always do in a contract

1150
01:10:12.640 --> 01:10:15.600
and a contractual agreement is get them to sign on it.

1151
01:10:15.600 --> 01:10:17.300
I wouldn't just throw it as terms

1152
01:10:17.300 --> 01:10:19.800
that are in there for payment, right?

1153
01:10:19.800 --> 01:10:24.500
That's a lot of people throw these terms in something

1154
01:10:24.500 --> 01:10:27.080
like the work's being done and then it says,

1155
01:10:27.400 --> 01:10:30.440
by receiving payment, you agree to the following.

1156
01:10:30.440 --> 01:10:33.520
The other party didn't really technically agree to it.

1157
01:10:33.520 --> 01:10:36.040
They actually already started doing the work

1158
01:10:36.040 --> 01:10:41.040
and now there's a legal agreement that's being sent to them

1159
01:10:41.860 --> 01:10:44.000
that they haven't technically agreed to, right?

1160
01:10:44.000 --> 01:10:46.560
So the way a contract works

1161
01:10:46.560 --> 01:10:50.300
is that there is some kind of consideration, right?

1162
01:10:50.300 --> 01:10:53.240
Some kind of, the consideration could be financial,

1163
01:10:53.240 --> 01:10:55.740
the consideration can be a number of different things,

1164
01:10:55.780 --> 01:10:58.620
but there's something that's being swapped, right?

1165
01:10:58.620 --> 01:11:01.380
But there needs to be an agreement between the parties.

1166
01:11:01.380 --> 01:11:06.380
If I, let's say that, and I would never do this,

1167
01:11:06.500 --> 01:11:08.700
but let's say you did an IP audit, right?

1168
01:11:08.700 --> 01:11:13.700
You come in and then as we're starting this IP audit,

1169
01:11:13.860 --> 01:11:16.540
I send you the invoice for the thing and on it,

1170
01:11:16.540 --> 01:11:18.640
there's legal language that says everything

1171
01:11:18.640 --> 01:11:23.640
that you disclose during this time that we're together,

1172
01:11:24.640 --> 01:11:27.880
I own all rights, title and interest to, right?

1173
01:11:27.880 --> 01:11:31.760
Now you're already in the process of doing the audit.

1174
01:11:31.760 --> 01:11:34.740
You've already separated time.

1175
01:11:34.740 --> 01:11:36.240
You're starting to take the services

1176
01:11:36.240 --> 01:11:38.320
and I just threw a condition on.

1177
01:11:38.320 --> 01:11:41.760
Now the question is, well, what about earlier?

1178
01:11:41.760 --> 01:11:44.140
What about early in the arrangement?

1179
01:11:44.140 --> 01:11:46.200
What if I send out the invoice in the beginning

1180
01:11:46.200 --> 01:11:48.780
before any work has actually been done at all?

1181
01:11:48.780 --> 01:11:53.160
And it says that you hereby agree to the following.

1182
01:11:53.680 --> 01:11:54.760
I would just put a signature line on that

1183
01:11:54.760 --> 01:11:55.880
and make them sign it.

1184
01:11:56.880 --> 01:12:00.240
The mere fact that they receive payment for something

1185
01:12:00.240 --> 01:12:03.080
does not mean that they agree to your legal terms.

1186
01:12:03.080 --> 01:12:06.440
That unfortunately in a court of law,

1187
01:12:06.440 --> 01:12:09.980
you're gonna have spent a lot of time trying to prove

1188
01:12:09.980 --> 01:12:14.060
that they agreed to your terms and conditions

1189
01:12:14.060 --> 01:12:15.240
without a signature.

1190
01:12:16.560 --> 01:12:18.080
So what I do-

1191
01:12:18.080 --> 01:12:19.560
Can I reach out to you through Ray

1192
01:12:19.560 --> 01:12:22.360
and get the right verbiage in place?

1193
01:12:22.360 --> 01:12:23.200
Yeah, yeah.

1194
01:12:23.200 --> 01:12:24.840
That is legal advice so that I can-

1195
01:12:24.840 --> 01:12:25.920
Yeah, yeah, we can do that.

1196
01:12:25.920 --> 01:12:27.120
That's fine.

1197
01:12:27.120 --> 01:12:29.120
Actually, it's really interesting

1198
01:12:29.120 --> 01:12:32.240
because I never really pulled this up.

1199
01:12:32.240 --> 01:12:36.960
And then last night, maybe this is why it happened.

1200
01:12:36.960 --> 01:12:41.440
Last night, I pulled up an agreement called...

1201
01:12:41.440 --> 01:12:44.440
I have a website user agreement,

1202
01:12:44.440 --> 01:12:47.120
a whole harmless disclaimer.

1203
01:12:47.120 --> 01:12:50.800
I've got terms and conditions,

1204
01:12:50.840 --> 01:12:52.360
but one of the ones that I pulled up

1205
01:12:52.360 --> 01:12:55.320
was like a 20-something page agreement

1206
01:12:55.320 --> 01:12:58.720
they had created before that I totally forgot about.

1207
01:12:58.720 --> 01:13:00.040
And it covers the kind of stuff

1208
01:13:00.040 --> 01:13:01.640
that we're talking about here,

1209
01:13:01.640 --> 01:13:04.840
which is when you hire somebody to do something,

1210
01:13:04.840 --> 01:13:07.720
what are the legal rights that go back and forth?

1211
01:13:07.720 --> 01:13:09.600
It's kind of ironic because again, I haven't-

1212
01:13:09.600 --> 01:13:12.120
I guess what I've always want to avoid

1213
01:13:12.120 --> 01:13:13.840
because we're friends is this feeling like,

1214
01:13:13.840 --> 01:13:15.500
no, you're entering into an agreement

1215
01:13:15.500 --> 01:13:19.040
with NBC, Comcast, Incorporated.

1216
01:13:19.040 --> 01:13:20.200
Yeah, you need a simplified version.

1217
01:13:20.600 --> 01:13:24.320
I just need a friendly agreement.

1218
01:13:25.320 --> 01:13:27.000
Not a legally binding contract.

1219
01:13:27.000 --> 01:13:29.240
Those are usually like two, three pages max.

1220
01:13:29.240 --> 01:13:31.200
Those are the kind of agreements that you're looking at.

1221
01:13:31.200 --> 01:13:33.080
A paragraph won't work.

1222
01:13:33.080 --> 01:13:38.080
Paragraphs unfortunately can leave a lot of obscure issues,

1223
01:13:38.320 --> 01:13:40.400
but we can touch base on it.

1224
01:13:40.400 --> 01:13:41.560
I'll tell you this one story.

1225
01:13:41.560 --> 01:13:44.720
I mean, I had a meeting with this one gentleman

1226
01:13:44.720 --> 01:13:47.240
and he had two partners, two business partners.

1227
01:13:47.240 --> 01:13:49.760
He comes in and he says,

1228
01:13:49.760 --> 01:13:50.720
and they're all at the table.

1229
01:13:50.720 --> 01:13:51.560
This is in Boston.

1230
01:13:51.560 --> 01:13:53.880
We're all sitting down at the same table

1231
01:13:53.880 --> 01:13:56.680
and they're all buddies, college buddies.

1232
01:13:56.680 --> 01:13:58.520
And they've known each other for a long time,

1233
01:13:58.520 --> 01:14:00.120
like 20 years.

1234
01:14:00.120 --> 01:14:03.840
And they were creating this business together.

1235
01:14:03.840 --> 01:14:07.000
And one of them was the engineer, really brilliant guy.

1236
01:14:07.000 --> 01:14:10.800
One of them was the CEO, really smart at doing business.

1237
01:14:10.800 --> 01:14:12.840
And the other one was the CFO

1238
01:14:12.840 --> 01:14:14.400
and really good with finances,

1239
01:14:14.400 --> 01:14:16.320
obtaining funds and all sorts of stuff.

1240
01:14:16.320 --> 01:14:19.160
Seemed like a really nice equation, right?

1241
01:14:19.160 --> 01:14:21.840
Well, they sit down and I say,

1242
01:14:21.840 --> 01:14:24.720
guys, you need to do something for me.

1243
01:14:24.720 --> 01:14:29.720
You need to tell me what's the entity that I'm representing.

1244
01:14:31.120 --> 01:14:32.920
I can't represent all three of you

1245
01:14:34.240 --> 01:14:37.720
because your positions,

1246
01:14:37.720 --> 01:14:40.280
even though right now you're aligned,

1247
01:14:40.280 --> 01:14:42.800
I guarantee you they are not gonna be aligned

1248
01:14:42.800 --> 01:14:43.640
in the future.

1249
01:14:44.560 --> 01:14:47.360
And they're like, no, no, we've known each other 20 years.

1250
01:14:47.600 --> 01:14:50.240
We're buddies, this is not an issue.

1251
01:14:50.240 --> 01:14:54.440
We have done, I was like, guys, I've done this a long time.

1252
01:14:54.440 --> 01:14:57.120
I'm telling you, let's create an entity.

1253
01:14:57.120 --> 01:14:59.400
And then the entity will be my client.

1254
01:14:59.400 --> 01:15:00.240
And you tell me.

1255
01:15:00.000 --> 01:15:03.440
who within the company speaks on behalf of the entity.

1256
01:15:03.440 --> 01:15:08.320
So I'm always acting on the better half of the entity

1257
01:15:08.320 --> 01:15:11.880
to help the entity and not a specific individual.

1258
01:15:11.880 --> 01:15:14.200
No, no, no, it's not a problem, it's not a problem.

1259
01:15:14.200 --> 01:15:15.640
Okay, all right, look, fine.

1260
01:15:15.640 --> 01:15:19.040
Sign this waiver saying that I explained this to you

1261
01:15:19.040 --> 01:15:21.340
and you have chosen to keep this

1262
01:15:21.340 --> 01:15:24.160
as three individuals working together

1263
01:15:24.160 --> 01:15:26.400
with under like a DBA essentially,

1264
01:15:26.400 --> 01:15:28.920
but not form an entity under that.

1265
01:15:29.000 --> 01:15:30.240
And they said, okay, you're no problem.

1266
01:15:30.240 --> 01:15:32.000
So I've got the waiver.

1267
01:15:32.000 --> 01:15:34.720
Then I said, one other thing,

1268
01:15:34.720 --> 01:15:38.340
this guy over here, Matt, is the brains of this operation.

1269
01:15:39.160 --> 01:15:42.560
Matt can decide to leave tomorrow

1270
01:15:42.560 --> 01:15:45.400
and take all the IP of the company

1271
01:15:45.400 --> 01:15:47.960
and you guys can't do jack about it.

1272
01:15:47.960 --> 01:15:49.200
That would never happen.

1273
01:15:49.200 --> 01:15:50.640
We've been friends 20 years,

1274
01:15:50.640 --> 01:15:52.480
we went to college together, blah, blah, blah.

1275
01:15:52.480 --> 01:15:56.840
I'm like, guys, trust me, this is an important issue.

1276
01:15:56.880 --> 01:15:58.880
I've learned it, I know what you're talking about.

1277
01:15:58.880 --> 01:16:01.240
Yeah, and they're like, okay, no, no, it's not an issue.

1278
01:16:01.240 --> 01:16:03.360
Pete, look, you represent all of us.

1279
01:16:03.360 --> 01:16:05.720
Whenever you call, get us all on the phone.

1280
01:16:05.720 --> 01:16:07.480
We'll make a decision together.

1281
01:16:07.480 --> 01:16:08.580
We've known each other a long time,

1282
01:16:08.580 --> 01:16:10.640
done business a long time ago.

1283
01:16:10.640 --> 01:16:12.680
I said, that doesn't matter when it comes to IP.

1284
01:16:12.680 --> 01:16:15.480
He owns all the IP, he's the brains.

1285
01:16:15.480 --> 01:16:18.220
Doesn't matter, we've known Matt forever.

1286
01:16:18.220 --> 01:16:21.700
Fine, sign this waiver saying that I disclosed to you

1287
01:16:21.700 --> 01:16:24.940
that Matt is the 100% owner of all the IP

1288
01:16:24.940 --> 01:16:28.180
and you can't stop Matt from doing literally anything

1289
01:16:28.180 --> 01:16:29.780
and you agree to that.

1290
01:16:29.780 --> 01:16:31.300
They signed the agreement.

1291
01:16:31.300 --> 01:16:34.780
I'm like, this is just a bomb waiting to go off.

1292
01:16:34.780 --> 01:16:36.220
About a year and a half later,

1293
01:16:36.220 --> 01:16:38.700
I think it was about a year and three quarters maybe,

1294
01:16:38.700 --> 01:16:40.100
I get a phone call.

1295
01:16:40.100 --> 01:16:42.380
It's one of the three guys.

1296
01:16:42.380 --> 01:16:45.580
Matt's leaving, Matt's taking all the technology,

1297
01:16:46.900 --> 01:16:48.260
what can we do to stop him?

1298
01:16:49.920 --> 01:16:51.460
You signed a waiver.

1299
01:16:51.460 --> 01:16:55.300
Nothing, you can't do jack, Matt's the brains.

1300
01:16:55.300 --> 01:16:57.100
He knew he was the brains

1301
01:16:57.100 --> 01:17:00.300
and spent all the time and money of the other guys

1302
01:17:00.300 --> 01:17:03.540
to build something up, knew the guys for like 20 years

1303
01:17:03.540 --> 01:17:06.420
and then jump ship, went to a larger corporation

1304
01:17:06.420 --> 01:17:08.940
that wanted to hire him because of his IP,

1305
01:17:08.940 --> 01:17:12.540
took it with him, made a killing, left these guys behind.

1306
01:17:13.460 --> 01:17:16.620
And it's just, this is why those agreements are really-

1307
01:17:16.620 --> 01:17:19.180
I get why one paragraph won't work, I get it now.

1308
01:17:19.180 --> 01:17:21.500
Yeah, this is why you don't just want that one,

1309
01:17:21.500 --> 01:17:23.740
you wanna just be careful,

1310
01:17:23.740 --> 01:17:27.220
especially with you, you guys have such brilliant ideas.

1311
01:17:27.220 --> 01:17:29.460
We don't want you guys ending up in problems

1312
01:17:29.460 --> 01:17:32.940
and we can provide simple language that's not scary.

1313
01:17:32.940 --> 01:17:33.980
Scary, thank you.

1314
01:17:33.980 --> 01:17:35.820
But it'll actually work.

1315
01:17:35.820 --> 01:17:36.660
Ray, what's up?

1316
01:17:37.540 --> 01:17:39.580
Maybe we should host a little session

1317
01:17:39.580 --> 01:17:41.520
in one of our portal meetings that goes over

1318
01:17:41.520 --> 01:17:43.500
having the confidence to step forward

1319
01:17:43.500 --> 01:17:45.380
in a way that you can be proud of

1320
01:17:46.600 --> 01:17:48.340
without being intimidated or timid

1321
01:17:48.420 --> 01:17:50.660
about your legal assertion of rights

1322
01:17:50.660 --> 01:17:53.180
so that you can take care of and protect

1323
01:17:53.180 --> 01:17:55.820
the way you need to, but understand,

1324
01:17:55.820 --> 01:17:58.820
just go over the mindset of being okay

1325
01:17:58.820 --> 01:18:00.060
with doing what you need to do

1326
01:18:00.060 --> 01:18:04.580
and it's not an offensive move to protect yourself.

1327
01:18:04.580 --> 01:18:08.140
There is a way to deliver a message

1328
01:18:08.140 --> 01:18:11.180
that is going to be received well, okay?

1329
01:18:12.060 --> 01:18:15.120
And what you do is you take the position

1330
01:18:15.120 --> 01:18:17.780
of the one who's trying to protect what's being created

1331
01:18:18.220 --> 01:18:21.540
as opposed to the one who's being possessive

1332
01:18:21.540 --> 01:18:23.820
of what is there.

1333
01:18:23.820 --> 01:18:26.100
When you take the position of I'm possessed,

1334
01:18:26.100 --> 01:18:29.740
this is mine, I got to protect me,

1335
01:18:29.740 --> 01:18:31.540
it's very standoffish.

1336
01:18:31.540 --> 01:18:32.740
Nobody really likes that.

1337
01:18:32.740 --> 01:18:35.380
It's very yucky, right?

1338
01:18:35.380 --> 01:18:36.980
It becomes personal.

1339
01:18:36.980 --> 01:18:39.380
But if you take the position of,

1340
01:18:39.380 --> 01:18:42.820
look, this is the technology of the company.

1341
01:18:42.820 --> 01:18:46.060
I'm trying to make sure that the company is successful.

1342
01:18:46.060 --> 01:18:47.560
This is an asset of the company.

1343
01:18:48.340 --> 01:18:49.640
We need to get this agreement signed

1344
01:18:49.640 --> 01:18:54.640
so that that asset becomes an asset of this entity, right?

1345
01:18:55.160 --> 01:18:58.600
It's like you're representing the entity.

1346
01:18:58.600 --> 01:19:02.280
Now, at the end of the day, obviously you own these things,

1347
01:19:02.280 --> 01:19:06.360
but the fact of the matter is that for tax purposes,

1348
01:19:06.360 --> 01:19:09.720
for ownership purposes, if you're taking the position

1349
01:19:09.720 --> 01:19:11.600
of representing an entity as opposed

1350
01:19:11.600 --> 01:19:14.480
to representing yourself, it's an easier conversation.

1351
01:19:15.320 --> 01:19:17.440
It's much, much easier.

1352
01:19:17.440 --> 01:19:19.640
Because when you take, like, if I go to Sam

1353
01:19:19.640 --> 01:19:21.840
and I was like, Sam, hey, you know,

1354
01:19:21.840 --> 01:19:24.920
we're going to work together on this new app.

1355
01:19:24.920 --> 01:19:29.560
But, you know, I came up with this idea, Sam.

1356
01:19:29.560 --> 01:19:33.880
Like, look, I've been thinking about this for a long time

1357
01:19:33.880 --> 01:19:35.760
and I've really gotten to the point

1358
01:19:35.760 --> 01:19:38.560
where I'm ready to implement this thing.

1359
01:19:38.560 --> 01:19:40.980
And like, you're good at implementing things,

1360
01:19:40.980 --> 01:19:42.320
but the idea is mine.

1361
01:19:42.360 --> 01:19:45.440
Like, I'm the one who actually conceived it,

1362
01:19:45.440 --> 01:19:46.360
put it together.

1363
01:19:46.360 --> 01:19:48.760
You know, I've received this from the Lord

1364
01:19:48.760 --> 01:19:50.960
and this is something that I want created.

1365
01:19:50.960 --> 01:19:53.240
Now, I want to hire you to provide the services,

1366
01:19:53.240 --> 01:19:55.280
but this really is my idea.

1367
01:19:55.280 --> 01:19:58.120
Like, I'm just kind of working with you

1368
01:19:58.120 --> 01:20:00.200
to have it, have to create the.

1369
01:20:00.000 --> 01:20:02.720
Yeah, that's it.

1370
01:20:02.720 --> 01:20:05.280
Now that's one way to talk to them, right?

1371
01:20:05.280 --> 01:20:07.240
And here's another way.

1372
01:20:07.240 --> 01:20:08.720
Hey, Sam, you have this,

1373
01:20:08.720 --> 01:20:12.520
you have incredible skillset on doing programming.

1374
01:20:12.520 --> 01:20:14.400
This company that we created,

1375
01:20:14.400 --> 01:20:16.480
we have a new technology that's very important

1376
01:20:16.480 --> 01:20:17.880
to this company.

1377
01:20:17.880 --> 01:20:20.340
And so this is gonna be an important asset of the company.

1378
01:20:20.340 --> 01:20:23.240
And our vision of the company is XYZ.

1379
01:20:23.240 --> 01:20:25.040
Now your skillset fits perfectly

1380
01:20:25.040 --> 01:20:26.940
in implementing this new technology

1381
01:20:26.940 --> 01:20:29.960
that's being created on behalf of the company.

1382
01:20:29.960 --> 01:20:33.780
These are the different parts of the software.

1383
01:20:33.780 --> 01:20:35.060
We'd like you to work with us

1384
01:20:35.060 --> 01:20:37.340
to actually implement that into an app.

1385
01:20:38.340 --> 01:20:39.980
And as we're doing that,

1386
01:20:39.980 --> 01:20:42.380
I need to make sure everything's tight for the company

1387
01:20:42.380 --> 01:20:45.840
so there's no confusion as to ownership, inventorship,

1388
01:20:45.840 --> 01:20:49.180
for tax purposes, to make sure the entity's secure.

1389
01:20:49.180 --> 01:20:51.140
And for that reason, I'm gonna forward you an agreement.

1390
01:20:51.140 --> 01:20:52.100
If you could take a look at that,

1391
01:20:52.100 --> 01:20:55.060
if you have any questions, just let me know.

1392
01:20:55.060 --> 01:20:57.180
But the role that you'll be taking in this

1393
01:20:57.180 --> 01:20:59.360
is the actual implementation of the functionality

1394
01:20:59.700 --> 01:21:01.140
that we've already created.

1395
01:21:01.140 --> 01:21:02.640
And then if you have other thoughts on it,

1396
01:21:02.640 --> 01:21:03.940
obviously feel free to do that.

1397
01:21:03.940 --> 01:21:05.420
But anything that you're adding to this

1398
01:21:05.420 --> 01:21:08.660
becomes part of the entity and the vision of the entity

1399
01:21:08.660 --> 01:21:11.340
and what we're doing as a company to help the public.

1400
01:21:11.340 --> 01:21:14.100
That's a very different conversation.

1401
01:21:14.100 --> 01:21:15.800
Very different conversation.

1402
01:21:17.260 --> 01:21:18.500
When I take it as,

1403
01:21:18.500 --> 01:21:20.420
like Sam, did that feel different

1404
01:21:20.420 --> 01:21:21.580
when I had those two conversations?

1405
01:21:21.580 --> 01:21:22.420
Yeah, yeah.

1406
01:21:22.420 --> 01:21:23.260
When do we start?

1407
01:21:26.060 --> 01:21:26.900
Exactly.

1408
01:21:26.900 --> 01:21:28.380
So it's like that's,

1409
01:21:28.400 --> 01:21:29.920
well, you're gonna have the recording.

1410
01:21:29.920 --> 01:21:31.800
You guys have the recording, so you can see.

1411
01:21:31.800 --> 01:21:33.540
But that's the difference in delivery.

1412
01:21:33.540 --> 01:21:36.080
This is the beauty of having an entity.

1413
01:21:36.080 --> 01:21:38.400
You're representing an entity with a goal,

1414
01:21:38.400 --> 01:21:39.980
a vision, a mission.

1415
01:21:39.980 --> 01:21:42.000
You're helping other people with that.

1416
01:21:42.000 --> 01:21:44.700
When you take out the personal thing,

1417
01:21:45.920 --> 01:21:47.920
it becomes easier to have the conversation.

1418
01:21:47.920 --> 01:21:51.380
It becomes easier to get the result that you need.

1419
01:21:51.380 --> 01:21:53.600
One of the first things I do

1420
01:21:53.600 --> 01:21:56.400
when I mentor somebody in business,

1421
01:21:56.400 --> 01:21:58.080
one of the very first things I tell them

1422
01:21:58.780 --> 01:22:00.620
is take nothing personal.

1423
01:22:00.620 --> 01:22:02.820
The second you take something personal,

1424
01:22:02.820 --> 01:22:05.700
the negotiation's over, you're done.

1425
01:22:05.700 --> 01:22:09.740
But you can't get past yourself.

1426
01:22:09.740 --> 01:22:12.700
You can get past a lot of different obstacles.

1427
01:22:12.700 --> 01:22:14.300
You can't get past yourself

1428
01:22:14.300 --> 01:22:16.140
because you're always gonna wake up to yourself.

1429
01:22:16.140 --> 01:22:17.300
You're always gonna see yourself.

1430
01:22:17.300 --> 01:22:19.980
You're always gonna engage with yourself.

1431
01:22:19.980 --> 01:22:21.780
The second you make something personal,

1432
01:22:21.780 --> 01:22:26.000
you've put up a roadblock that can't be beaten

1433
01:22:26.000 --> 01:22:27.980
because you're not battling another person.

1434
01:22:28.680 --> 01:22:29.680
You're battling yourself.

1435
01:22:30.720 --> 01:22:34.440
So that's the way I would do it in your negotiations.

1436
01:22:34.440 --> 01:22:37.680
If you have a book and you're negotiating with a publisher

1437
01:22:37.680 --> 01:22:40.440
and you put something in the name of an entity,

1438
01:22:40.440 --> 01:22:43.280
like the entity is gonna be coming up with a series.

1439
01:22:43.280 --> 01:22:45.000
There's gonna be three different books.

1440
01:22:45.000 --> 01:22:47.640
We'd like to negotiate with you to be a publisher,

1441
01:22:47.640 --> 01:22:49.560
to be part of what we're doing.

1442
01:22:49.560 --> 01:22:50.560
These are the legal rights

1443
01:22:50.560 --> 01:22:52.720
that are associated with the company.

1444
01:22:52.720 --> 01:22:55.280
We need to make sure that we're not assigning our rights

1445
01:22:55.300 --> 01:22:59.260
to an outside or an interesting publisher in this process.

1446
01:22:59.260 --> 01:23:02.540
So as to maintain the legal rights for the entity

1447
01:23:02.540 --> 01:23:04.900
and the vision that we have for the entity.

1448
01:23:04.900 --> 01:23:06.580
Very different from, hey, look,

1449
01:23:06.580 --> 01:23:10.700
I'm hiring you as a publisher to work on my book,

1450
01:23:10.700 --> 01:23:13.700
but I'm kind of concerned that you might, you know,

1451
01:23:13.700 --> 01:23:15.620
grab ownership rights or like,

1452
01:23:15.620 --> 01:23:17.900
I've never dealt with you before.

1453
01:23:17.900 --> 01:23:20.900
Second you start doing that, it became personal.

1454
01:23:20.900 --> 01:23:23.820
These are like negotiating techniques.

1455
01:23:23.840 --> 01:23:28.500
The second that you mentioned like I this, you that,

1456
01:23:28.500 --> 01:23:30.440
it's over, it's over.

1457
01:23:30.440 --> 01:23:32.400
It just became personal.

1458
01:23:32.400 --> 01:23:35.400
This is why like, even when I'm in court,

1459
01:23:35.400 --> 01:23:38.760
when I'm in negotiation with opposing counsel,

1460
01:23:38.760 --> 01:23:40.120
I never talk about me.

1461
01:23:40.960 --> 01:23:43.280
It's always what the law says.

1462
01:23:43.280 --> 01:23:45.200
It's always what the entity needs.

1463
01:23:45.200 --> 01:23:48.280
It's always the negotiation on behalf of the client,

1464
01:23:48.280 --> 01:23:49.660
what the client sees.

1465
01:23:49.660 --> 01:23:53.400
And it's never ever, never ever do I actually say

1466
01:23:53.900 --> 01:23:56.340
that their client is doing X, Y, Z.

1467
01:23:56.340 --> 01:24:00.020
What I'll do is I'll say, this is what's happening.

1468
01:24:00.020 --> 01:24:01.700
This is what we need to change.

1469
01:24:01.700 --> 01:24:04.740
I don't say your client this, your client that.

1470
01:24:04.740 --> 01:24:05.580
I never do that.

1471
01:24:05.580 --> 01:24:08.100
Second you do that, it became personal.

1472
01:24:08.100 --> 01:24:11.140
Second it becomes personal, your negotiation,

1473
01:24:11.140 --> 01:24:14.140
your chances of winning and successful negotiations

1474
01:24:14.140 --> 01:24:16.160
go down exponentially the second

1475
01:24:16.160 --> 01:24:17.860
that you start making it personal.

1476
01:24:20.080 --> 01:24:23.140
I think I told you this one story once,

1477
01:24:23.880 --> 01:24:25.780
but I think this kind of drives it home.

1478
01:24:27.280 --> 01:24:29.240
And if I mentioned this before, I apologize,

1479
01:24:29.240 --> 01:24:31.760
but I think this kind of drives this home.

1480
01:24:31.760 --> 01:24:34.180
I got a phone call from a client.

1481
01:24:35.360 --> 01:24:37.280
This was a number, I think it was about three years ago.

1482
01:24:37.280 --> 01:24:41.760
They were in negotiations with Microsoft, right?

1483
01:24:41.760 --> 01:24:45.440
And they had, Microsoft had Chicago counsel

1484
01:24:45.440 --> 01:24:47.360
and my client had New York City counsel

1485
01:24:47.360 --> 01:24:49.580
and they were negotiating a license agreement.

1486
01:24:49.580 --> 01:24:54.580
Microsoft wanted a certain amount per download

1487
01:24:54.760 --> 01:24:56.940
of a certain software, right?

1488
01:24:56.940 --> 01:25:00.240
And they got into this, the lawyers got into this battle.

1489
01:25:00.000 --> 01:25:01.800
back and forth, back and forth, to the point

1490
01:25:01.800 --> 01:25:02.880
where they were cursing.

1491
01:25:02.880 --> 01:25:03.680
They were arguing.

1492
01:25:03.680 --> 01:25:04.840
They were mad at each other.

1493
01:25:04.840 --> 01:25:05.560
They were cursing.

1494
01:25:05.560 --> 01:25:07.360
And so finally, my client calls me,

1495
01:25:07.360 --> 01:25:09.560
because I wasn't part of that negotiation.

1496
01:25:09.560 --> 01:25:12.240
But the owner calls me.

1497
01:25:12.240 --> 01:25:13.440
Actually, it's not the owner.

1498
01:25:13.440 --> 01:25:15.480
Robin is one of the lead legal people.

1499
01:25:15.480 --> 01:25:17.760
Calls me up and says, hey, can you

1500
01:25:17.760 --> 01:25:21.120
take over this negotiation with Microsoft?

1501
01:25:21.120 --> 01:25:22.480
I said, well, what's the problem?

1502
01:25:22.480 --> 01:25:24.960
She says, the lawyers are fighting.

1503
01:25:24.960 --> 01:25:28.800
But what we're trying to accomplish is not getting done.

1504
01:25:28.840 --> 01:25:30.760
I said, yes, sure, just tell me what you want.

1505
01:25:30.760 --> 01:25:31.880
She tells me what she wants.

1506
01:25:31.880 --> 01:25:33.200
I said, what do you think Microsoft wants?

1507
01:25:33.200 --> 01:25:34.680
She tells me what she thinks Microsoft wants.

1508
01:25:34.680 --> 01:25:35.760
I said, OK, cool.

1509
01:25:35.760 --> 01:25:37.080
I jump on the call.

1510
01:25:37.080 --> 01:25:42.680
We set up a meeting, got Chicago legal counsel for Microsoft.

1511
01:25:42.680 --> 01:25:48.120
New York counsel for our client was not there intentionally,

1512
01:25:48.120 --> 01:25:50.760
because I didn't want that fight.

1513
01:25:50.760 --> 01:25:53.560
Meeting starts, opposing counsel is cursing already.

1514
01:25:53.560 --> 01:25:56.800
I can't effing believe we're doing this effing thing again.

1515
01:25:56.800 --> 01:25:59.160
We've been doing this so effing long.

1516
01:25:59.160 --> 01:26:01.160
This is a waste of my effing time.

1517
01:26:01.160 --> 01:26:03.920
I'm like, jeez, he's just going on and on and on,

1518
01:26:03.920 --> 01:26:06.320
probably about five minutes of bashing.

1519
01:26:06.320 --> 01:26:08.960
And then finally, I just said, are you done?

1520
01:26:08.960 --> 01:26:11.400
And people on the line start laughing.

1521
01:26:11.400 --> 01:26:13.360
I just let him vent.

1522
01:26:13.360 --> 01:26:14.520
So I was like, are you done?

1523
01:26:14.520 --> 01:26:16.600
And people started laughing.

1524
01:26:16.600 --> 01:26:19.160
I said, look, I don't mean to make fun of anything here,

1525
01:26:19.160 --> 01:26:21.240
but I've got one question for you.

1526
01:26:21.240 --> 01:26:22.760
If you can answer that one question,

1527
01:26:22.760 --> 01:26:24.800
I think we're basically done.

1528
01:26:24.800 --> 01:26:26.080
And he says, well, what is it?

1529
01:26:26.080 --> 01:26:29.440
I said, what does your client want?

1530
01:26:29.440 --> 01:26:32.320
And he's dead silent.

1531
01:26:32.320 --> 01:26:34.640
The lawyer was so engaged in the fight

1532
01:26:34.640 --> 01:26:38.000
that he forgot what his client wanted.

1533
01:26:38.000 --> 01:26:40.720
He had no clue.

1534
01:26:40.720 --> 01:26:43.360
Literally, Microsoft is on the line

1535
01:26:43.360 --> 01:26:47.560
with their head lead counsel from another law firm,

1536
01:26:47.560 --> 01:26:51.120
and their lead counsel doesn't know what Microsoft wants,

1537
01:26:51.120 --> 01:26:55.400
in the middle of a major negotiation on a huge deal.

1538
01:26:55.440 --> 01:26:57.680
And so there's like this long pause.

1539
01:26:57.680 --> 01:26:59.680
I said, and so I didn't want to make fun of him,

1540
01:26:59.680 --> 01:27:00.840
because I don't negotiate like that.

1541
01:27:00.840 --> 01:27:02.320
I said, you know what?

1542
01:27:02.320 --> 01:27:04.480
Why don't we take like a five minute break?

1543
01:27:04.480 --> 01:27:06.000
Why don't you talk to your client?

1544
01:27:06.000 --> 01:27:07.360
And then why don't we continue?

1545
01:27:07.360 --> 01:27:08.840
We'll just hold the line.

1546
01:27:08.840 --> 01:27:11.680
And then when you're ready, just let us know.

1547
01:27:11.680 --> 01:27:14.520
And so it's like, yeah, fine.

1548
01:27:14.520 --> 01:27:15.360
Go silent.

1549
01:27:16.360 --> 01:27:18.280
I'm like texting my client,

1550
01:27:18.280 --> 01:27:19.440
because we can't talk on the line,

1551
01:27:19.440 --> 01:27:20.640
because the line's hot.

1552
01:27:20.640 --> 01:27:21.880
So I'm texting my client.

1553
01:27:22.960 --> 01:27:24.280
He comes back on in about,

1554
01:27:24.280 --> 01:27:26.480
I think it was about two and a half minutes later.

1555
01:27:26.480 --> 01:27:30.840
And he says, my client wants 20 something cents per, no.

1556
01:27:30.840 --> 01:27:33.280
Yeah, yeah, 20 something cents per download.

1557
01:27:34.360 --> 01:27:36.640
It's like 20 something cents per download.

1558
01:27:36.640 --> 01:27:38.800
And I already knew what my client wants.

1559
01:27:38.800 --> 01:27:42.600
Robin just, she just wanted under a dollar per download.

1560
01:27:42.600 --> 01:27:45.680
I was like, Robin, do you have any problems with this?

1561
01:27:45.680 --> 01:27:48.080
Like, that sounds ridiculously good.

1562
01:27:48.080 --> 01:27:50.920
She says, no, that's exactly what we want.

1563
01:27:50.920 --> 01:27:52.000
I said, done.

1564
01:27:53.000 --> 01:27:54.840
Opposing counsel's like, what do you mean done?

1565
01:27:54.840 --> 01:27:55.920
I said, done.

1566
01:27:55.920 --> 01:27:58.840
You said you wanted 20 something cents per download.

1567
01:27:58.840 --> 01:28:00.320
My client agrees.

1568
01:28:00.320 --> 01:28:01.320
Done.

1569
01:28:01.320 --> 01:28:03.200
Is there anything else to talk about?

1570
01:28:03.200 --> 01:28:04.400
The other side is like,

1571
01:28:07.960 --> 01:28:09.360
we'll send over the agreement.

1572
01:28:09.360 --> 01:28:11.880
I'm like, cool, done, bye, click.

1573
01:28:11.880 --> 01:28:15.040
Like little, and this is what happens in real negotiation.

1574
01:28:15.040 --> 01:28:18.000
So now as you guys are building companies

1575
01:28:18.000 --> 01:28:20.400
and you're negotiating with third parties,

1576
01:28:20.680 --> 01:28:23.040
you have to keep in mind in your negotiations

1577
01:28:23.040 --> 01:28:25.200
not to make anything personal.

1578
01:28:25.200 --> 01:28:27.960
Don't ever say you did this.

1579
01:28:27.960 --> 01:28:29.840
You know, I want that.

1580
01:28:29.840 --> 01:28:34.080
Like, don't try to detach yourself from the scenario.

1581
01:28:34.080 --> 01:28:36.200
The only time that you should attach yourself

1582
01:28:36.200 --> 01:28:38.600
to a scenario is when you're talking about the passion

1583
01:28:38.600 --> 01:28:41.120
that you have to make something successful.

1584
01:28:42.120 --> 01:28:43.760
That's when you connect yourself.

1585
01:28:43.760 --> 01:28:47.000
You don't connect yourself in a negotiation.

1586
01:28:47.000 --> 01:28:47.840
Why?

1587
01:28:47.840 --> 01:28:48.680
I'll tell you why.

1588
01:28:48.680 --> 01:28:51.080
Because if you connect yourself directly

1589
01:28:51.080 --> 01:28:53.320
into a negotiation on a major deal

1590
01:28:54.280 --> 01:28:59.280
and the other side sees it as it being so personal to you

1591
01:28:59.720 --> 01:29:02.760
that anytime they say no to anything,

1592
01:29:02.760 --> 01:29:04.960
you're personally gonna take it as an attack.

1593
01:29:04.960 --> 01:29:06.840
It's gonna be very hard to negotiate.

1594
01:29:08.200 --> 01:29:09.880
This is why I love LLCs.

1595
01:29:09.880 --> 01:29:11.360
This is why I love companies.

1596
01:29:11.360 --> 01:29:13.720
Because now I'm negotiating on behalf of a company

1597
01:29:13.720 --> 01:29:15.680
and the better interest of the company.

1598
01:29:16.520 --> 01:29:17.520
And at the end of the day,

1599
01:29:17.520 --> 01:29:20.280
if they say, no, I can't assign all rights

1600
01:29:20.280 --> 01:29:22.720
out of an interest of the software over to your company.

1601
01:29:22.720 --> 01:29:24.320
Like, this is what I do for a living.

1602
01:29:24.320 --> 01:29:25.720
My response is, yeah,

1603
01:29:25.720 --> 01:29:27.200
I know this is what you did for a living.

1604
01:29:27.200 --> 01:29:28.160
That's why I'm hiring you.

1605
01:29:28.160 --> 01:29:29.480
You're one of the best in the world.

1606
01:29:29.480 --> 01:29:30.920
But at the same time,

1607
01:29:30.920 --> 01:29:34.920
this falls into the purview of what the company does.

1608
01:29:34.920 --> 01:29:36.480
And we have to make sure the legal rights

1609
01:29:36.480 --> 01:29:37.680
are assigned to the company

1610
01:29:37.680 --> 01:29:40.560
so the company will be successful into the future.

1611
01:29:40.560 --> 01:29:43.120
And so we wanna find a way to actually negotiate with you

1612
01:29:43.120 --> 01:29:45.000
for to actually accomplish that.

1613
01:29:45.040 --> 01:29:47.640
It's not like, yeah, but this is my idea.

1614
01:29:47.640 --> 01:29:49.160
I came up with this idea.

1615
01:29:49.160 --> 01:29:50.200
I reached out to you.

1616
01:29:50.200 --> 01:29:52.520
You now know about my idea

1617
01:29:52.520 --> 01:29:54.080
and now you're gonna compete with me?

1618
01:29:54.080 --> 01:29:55.800
No, that's not gonna happen.

1619
01:29:55.800 --> 01:29:58.080
You see the difference in the negotiation?

1620
01:29:59.000 --> 01:30:00.120
This is why startups.

1621
01:30:00.000 --> 01:30:05.200
crash. You get individuals that are so passionate about what they're creating that they don't know

1622
01:30:05.200 --> 01:30:15.040
how to talk about what they're doing and detach themselves from that. How do you have a child

1623
01:30:15.040 --> 01:30:21.200
and negotiate the promise and the future of the child without becoming so protective that nobody

1624
01:30:21.200 --> 01:30:29.600
ever wants to talk to your child? There's an art to doing that. And so we can talk about this as

1625
01:30:29.600 --> 01:30:33.760
time goes on. If you run into scenarios and negotiations and you want to figure... This is

1626
01:30:33.760 --> 01:30:39.680
actually one of the things that I get hired for by large corporations is just to close. They say,

1627
01:30:39.680 --> 01:30:45.200
hey, we're stuck. Will you come in and close? I'm like, yeah, sure. So I'm a closer. I go in,

1628
01:30:45.200 --> 01:30:50.480
I assess everything, close the deal. And then I leave. And I let all the other grunts finish the

1629
01:30:50.480 --> 01:30:56.800
paperwork. That's not my thing. So I do the closing. So in any case, was that helpful to you

1630
01:30:56.800 --> 01:31:04.560
guys? Yeah. So that's how you want to negotiate. So Ray, thanks for raising that, Ray. That's how

1631
01:31:04.560 --> 01:31:11.040
you want to negotiate. You are taking the position on representing an entity, the future of the

1632
01:31:11.040 --> 01:31:17.760
entity, the vision of the entity, and the better good of others, as opposed to this is mine. I did

1633
01:31:17.760 --> 01:31:24.480
this. I created this. I want you in, but everything belongs to me. That becomes...

1634
01:31:26.000 --> 01:31:33.440
It's just yucky. It's a harder negotiation. And then finally, the negotiation should be win-win.

1635
01:31:35.600 --> 01:31:42.000
My mentor was Carl Giorda. Carl Giorda was one of the best licensing people in the world

1636
01:31:42.640 --> 01:31:47.520
ever to exist. I mean, honestly, if you look up, Carl Giorda was ridiculous.

1637
01:31:48.320 --> 01:31:54.080
This guy was just remarkable. He was a professor at what was called Franklin Pierce Law Center.

1638
01:31:54.080 --> 01:31:59.280
He was my professor. I knew him personally. He was best friends with my wife because my wife

1639
01:31:59.280 --> 01:32:04.640
used to work at the law school. And quite frankly, I had a lot of perks because my wife actually

1640
01:32:04.640 --> 01:32:10.320
worked at the law school. So I got to all the alumni events. I got all the interviews. I got

1641
01:32:10.960 --> 01:32:17.440
I.O. Bonnie a lot. But the point being that what Carl always said was every license should be a

1642
01:32:17.440 --> 01:32:25.760
win-win. If you won on all the terms and everything is in your favor in a license agreement, this is

1643
01:32:25.760 --> 01:32:31.120
what likely is going to happen. The other party is going to try to find a way to get around your

1644
01:32:31.120 --> 01:32:37.040
license. That means you've entered into a license with a party who doesn't like the license, who's

1645
01:32:37.040 --> 01:32:42.160
going to try to do anything that they can to get around it. And you're going to make very little

1646
01:32:42.160 --> 01:32:50.080
money on this. Very little money. You always want to end up in a license agreement in a win-win

1647
01:32:50.080 --> 01:32:56.240
situation. Try to figure out how the other person can benefit as well. When I'm in a license

1648
01:32:56.240 --> 01:33:02.720
agreement with another party that has certain benefits. And this is actually the last thing we

1649
01:33:02.720 --> 01:33:06.800
were going to talk about, which is licensing. So it fits perfectly when I'm in a license agreement,

1650
01:33:07.520 --> 01:33:12.400
party that has certain benefits, then they want to be part of the license agreement.

1651
01:33:12.400 --> 01:33:18.000
They want to do the sales. They want to do the promotion. They want to see me grow because they

1652
01:33:18.000 --> 01:33:23.680
benefit. If they don't benefit in any way, shape or form from the license agreement,

1653
01:33:24.400 --> 01:33:32.000
that's not a license. What you've essentially done is locked something down that's not going to grow.

1654
01:33:32.000 --> 01:33:40.240
It's like having a garden and a quarter of the garden is allocated for growth, but nothing's

1655
01:33:40.240 --> 01:33:46.640
ever going to grow in that area. So it's basically wasted real estate. It's got the best soil

1656
01:33:47.680 --> 01:33:52.320
and there may be the best seeds in the world, but it's never going to be watered. They're never

1657
01:33:52.320 --> 01:33:56.320
going to work on it. It's just going to be something that's there in a portfolio that

1658
01:33:56.320 --> 01:34:02.480
never gets touched, like ever. So whenever you're negotiating these license agreements,

1659
01:34:02.480 --> 01:34:07.760
I know it can get very personal. I know that your entities, your creations are your babies. I get

1660
01:34:07.760 --> 01:34:13.840
that. I've had grown men and women crying to me when they get sued over stuff that they've created.

1661
01:34:15.520 --> 01:34:21.360
So I get it. I understand that it's very important to you. Believe me, I'm a creator as well, right?

1662
01:34:21.360 --> 01:34:26.640
We're all created. We're made in God's image. He's the creator. So surprise, you're a creator.

1663
01:34:27.600 --> 01:34:33.200
I mean, it's in your bloodline, okay? But the big thing to keep in mind is that

1664
01:34:34.400 --> 01:34:38.160
you want to make it so that the other side can look at this and go, you know what? This is a

1665
01:34:38.160 --> 01:34:44.480
good deal. It's a good deal. Maybe you make a little less money, but in the long term,

1666
01:34:44.480 --> 01:34:47.600
you're going to make way more money because they're actually going to be working for you.

1667
01:34:47.760 --> 01:34:54.560
I have seen licenses where a party locks down a technology and never does anything with it, ever.

1668
01:34:55.760 --> 01:34:58.960
And the other party who owns the technology can't get out of the agreement.

1669
01:35:00.000 --> 01:35:03.440
agreement because it's an exclusive license.

1670
01:35:03.440 --> 01:35:05.560
And there's been no violation of the license,

1671
01:35:05.560 --> 01:35:07.200
so they're locked in.

1672
01:35:07.200 --> 01:35:09.640
That's called a deadlock on a technology.

1673
01:35:10.840 --> 01:35:12.920
And it never grows, it's done.

1674
01:35:12.920 --> 01:35:15.440
That's actually how, for those of you that are creating,

1675
01:35:15.440 --> 01:35:17.840
how many people here are creating technologies

1676
01:35:17.840 --> 01:35:21.880
like something that's new, that never existed before?

1677
01:35:21.880 --> 01:35:24.480
Okay, so in SAM's situation,

1678
01:35:24.480 --> 01:35:27.120
or even if you're creating a method or a process

1679
01:35:27.120 --> 01:35:28.880
that's never been created before,

1680
01:35:28.880 --> 01:35:30.920
and you try to license that thing,

1681
01:35:30.920 --> 01:35:33.360
what some larger companies will do,

1682
01:35:33.360 --> 01:35:36.600
if you have a brilliant technology or brilliant method,

1683
01:35:36.600 --> 01:35:40.120
they will try to get a license from you,

1684
01:35:40.120 --> 01:35:42.360
where they get an exclusive license,

1685
01:35:43.200 --> 01:35:45.840
because you have these delusions of grandeur in your mind,

1686
01:35:45.840 --> 01:35:48.320
thinking you're going to make ridiculous amounts of money,

1687
01:35:48.320 --> 01:35:50.200
and then they freeze it.

1688
01:35:50.200 --> 01:35:51.400
They do nothing with it.

1689
01:35:52.760 --> 01:35:54.800
They don't violate the license agreement,

1690
01:35:55.680 --> 01:35:59.560
so you can't end the license agreement.

1691
01:36:00.720 --> 01:36:02.000
They're not sending you any money

1692
01:36:02.000 --> 01:36:03.640
because they're not selling it.

1693
01:36:03.640 --> 01:36:06.160
They're not doing anything with it.

1694
01:36:06.160 --> 01:36:07.800
And guess why they did that?

1695
01:36:08.760 --> 01:36:09.880
Somebody here, tell me.

1696
01:36:09.880 --> 01:36:12.200
Unmute yourself and tell me why they did that.

1697
01:36:15.640 --> 01:36:17.520
Eliminate competition.

1698
01:36:17.520 --> 01:36:18.560
Yep.

1699
01:36:18.560 --> 01:36:20.400
Anti-competition.

1700
01:36:20.400 --> 01:36:21.280
Exactly.

1701
01:36:21.280 --> 01:36:25.280
They literally, they saw a brilliant light.

1702
01:36:25.280 --> 01:36:26.360
They have a dim light,

1703
01:36:26.360 --> 01:36:28.120
but the dim light is all over the place.

1704
01:36:28.120 --> 01:36:31.120
So you see this brilliant laser light,

1705
01:36:31.120 --> 01:36:33.400
and they say, that's going to compete with our dim light.

1706
01:36:33.400 --> 01:36:35.560
When other people see that brilliant laser light,

1707
01:36:35.560 --> 01:36:37.600
they're going to want that.

1708
01:36:37.600 --> 01:36:39.400
Now, this is a startup.

1709
01:36:39.400 --> 01:36:42.200
These people are so enamored with the fact

1710
01:36:42.200 --> 01:36:44.080
that we're a big, big entity.

1711
01:36:44.080 --> 01:36:46.960
So we're going to come in and get an exclusive license,

1712
01:36:46.960 --> 01:36:50.480
and then we're going to put a lid on the laser light.

1713
01:36:50.480 --> 01:36:52.680
So everybody can only see the dimly lit light,

1714
01:36:52.680 --> 01:36:54.880
and that's all they can use forever.

1715
01:36:54.880 --> 01:36:56.240
It is Microsoft's model.

1716
01:36:56.240 --> 01:36:57.400
That's what they do.

1717
01:36:57.400 --> 01:36:58.280
They've done that.

1718
01:36:59.280 --> 01:37:02.800
And there's a number of other large entities.

1719
01:37:02.800 --> 01:37:06.320
So this is why I'm saying in your license agreements,

1720
01:37:06.320 --> 01:37:07.720
be careful.

1721
01:37:07.720 --> 01:37:10.240
Don't jump out there and do an exclusive license

1722
01:37:10.240 --> 01:37:12.840
unless you really and honestly believe

1723
01:37:12.840 --> 01:37:15.280
that you have an agreement with a party

1724
01:37:15.280 --> 01:37:17.120
that is going to help you grow.

1725
01:37:17.120 --> 01:37:19.400
And then you need to have terms and conditions

1726
01:37:19.400 --> 01:37:21.560
in your license agreement that says

1727
01:37:21.560 --> 01:37:25.480
that you can get out if certain things are not done.

1728
01:37:26.760 --> 01:37:27.600
All right?

1729
01:37:27.600 --> 01:37:29.760
You can't have an open-ended license agreement

1730
01:37:29.760 --> 01:37:31.800
with a large entity that says,

1731
01:37:31.800 --> 01:37:34.120
man, I love what Sonia's doing.

1732
01:37:34.120 --> 01:37:38.280
This is phenomenal, but it competes with my iPhone,

1733
01:37:38.280 --> 01:37:40.600
and iPhones are a big deal.

1734
01:37:40.600 --> 01:37:43.160
So, hey, Sonia, love you.

1735
01:37:43.160 --> 01:37:44.000
You're amazing.

1736
01:37:44.000 --> 01:37:45.200
Your technology is incredible.

1737
01:37:46.040 --> 01:37:47.800
Let me introduce you to the CTO,

1738
01:37:47.800 --> 01:37:50.480
the Chief Technology Officer of my company.

1739
01:37:50.480 --> 01:37:51.640
You can have a meeting with them.

1740
01:37:51.640 --> 01:37:52.800
We'll take you to dinner.

1741
01:37:52.800 --> 01:37:55.840
We'll show you how we can incorporate it into our company.

1742
01:37:55.840 --> 01:37:57.600
Blah, blah, blah, blah, blah.

1743
01:37:57.600 --> 01:37:59.640
Let's have a non-exclusive license.

1744
01:37:59.640 --> 01:38:01.320
We're actually gonna give you a high royalty

1745
01:38:01.320 --> 01:38:03.080
on any sales that are done.

1746
01:38:03.080 --> 01:38:04.360
This is phenomenal.

1747
01:38:04.360 --> 01:38:05.360
Congratulations.

1748
01:38:05.360 --> 01:38:07.240
Here's a written agreement.

1749
01:38:07.240 --> 01:38:08.080
Frick it.

1750
01:38:09.360 --> 01:38:10.960
Now for the next like two, three years,

1751
01:38:10.960 --> 01:38:14.280
you're like, hey, yeah, remember the CTO?

1752
01:38:14.280 --> 01:38:16.840
Yeah, what's going on with the technology?

1753
01:38:16.840 --> 01:38:19.520
Oh, yeah, well, we've got a future model.

1754
01:38:19.520 --> 01:38:20.360
It's coming up.

1755
01:38:20.360 --> 01:38:21.800
We're gonna try to incorporate it in there.

1756
01:38:21.800 --> 01:38:25.360
We're testing the market to see if it's gonna take off.

1757
01:38:25.360 --> 01:38:26.880
Nothing, crickets.

1758
01:38:26.880 --> 01:38:28.400
Next year, you're like, hey, guys,

1759
01:38:28.400 --> 01:38:30.440
like it's been three years.

1760
01:38:30.440 --> 01:38:32.440
It's like, no, you're supposed to incorporate this in.

1761
01:38:32.440 --> 01:38:33.600
Yeah, yeah, you know,

1762
01:38:33.600 --> 01:38:35.800
we've got another model that's coming out right now.

1763
01:38:35.800 --> 01:38:38.200
You know, we're testing the market.

1764
01:38:38.200 --> 01:38:39.720
Some of the consumer feedback showing

1765
01:38:39.720 --> 01:38:42.400
that it doesn't really integrate well with this.

1766
01:38:42.400 --> 01:38:44.480
We're thinking we might have to modify it some.

1767
01:38:44.480 --> 01:38:46.400
We'll get right back to you, crickets.

1768
01:38:46.400 --> 01:38:48.640
This is what large companies do.

1769
01:38:48.640 --> 01:38:50.400
It's a reality.

1770
01:38:50.400 --> 01:38:51.560
And so you wanna make sure

1771
01:38:51.560 --> 01:38:54.440
that you're entering into a win-win situation

1772
01:38:54.440 --> 01:38:59.440
and in your license agreement have requirements

1773
01:38:59.440 --> 01:39:01.840
like X number of sales must happen

1774
01:39:01.840 --> 01:39:03.280
within X amount of time.

1775
01:39:03.280 --> 01:39:06.600
If that much sales is not done,

1776
01:39:06.600 --> 01:39:09.200
then you have to pay me X amount of money

1777
01:39:09.200 --> 01:39:11.560
to maintain the license agreement.

1778
01:39:11.560 --> 01:39:14.520
If you don't pay me X amount of money, the license is over.

1779
01:39:14.520 --> 01:39:16.600
That now opens you up

1780
01:39:16.600 --> 01:39:19.560
to giving the license to another party, right?

1781
01:39:19.560 --> 01:39:22.320
Or even better, enter into a non-exclusive license

1782
01:39:22.320 --> 01:39:24.280
in a specific field,

1783
01:39:24.280 --> 01:39:27.240
and then enter terms in the license agreement

1784
01:39:27.240 --> 01:39:29.080
that says you will do X amount.

1785
01:39:29.080 --> 01:39:32.240
If you don't, you can pay me Y.

1786
01:39:32.240 --> 01:39:34.920
And if you pay me Y, you can continue to license.

1787
01:39:34.920 --> 01:39:35.760
If you don't,

1788
01:39:35.760 --> 01:39:38.080
then you lose a non-exclusive license agreement.

1789
01:39:38.960 --> 01:39:41.480
You see the power of that?

1790
01:39:42.280 --> 01:39:43.960
Now, all of a sudden you can license to multiple parties.

1791
01:39:43.960 --> 01:39:45.960
Nobody can lock up your technology

1792
01:39:45.960 --> 01:39:48.440
and you'll find somebody who truly wants to work with you

1793
01:39:48.440 --> 01:39:49.280
and go forward.

1794
01:39:49.280 --> 01:39:52.160
But that license agreement should be a win-win agreement.

1795
01:39:52.960 --> 01:39:54.560
All right, any questions on that?

1796
01:39:54.560 --> 01:39:57.560
I just kind of touched base on licenses,

1797
01:39:57.560 --> 01:39:59.760
but some of you guys are negotiating.

1798
01:40:00.000 --> 01:40:02.600
trying to figure out who's going to be my partner?

1799
01:40:02.600 --> 01:40:03.720
Who am I going to work with?

1800
01:40:03.720 --> 01:40:05.360
Who am I going to hire?

1801
01:40:05.360 --> 01:40:06.880
Like some of you are starting to get busy

1802
01:40:06.880 --> 01:40:07.840
and you're trying to figure out,

1803
01:40:07.840 --> 01:40:11.160
well, what if I hire a third party on Fiverr

1804
01:40:11.160 --> 01:40:13.160
or hire some other entity?

1805
01:40:13.160 --> 01:40:14.000
What do I do?

1806
01:40:14.000 --> 01:40:16.400
What do I need in the agreement with that party

1807
01:40:16.400 --> 01:40:19.000
to make sure that I own everything?

1808
01:40:19.000 --> 01:40:19.840
These are the kinds of things

1809
01:40:19.840 --> 01:40:21.040
that we're kind of touching base on

1810
01:40:21.040 --> 01:40:23.800
because a lot of you are moving forward,

1811
01:40:23.800 --> 01:40:25.560
you know, in that in case you miss.

1812
01:40:25.840 --> 01:40:26.680
All right.

1813
01:40:28.960 --> 01:40:30.160
Oh, the non-disclosure agreement.

1814
01:40:30.160 --> 01:40:32.520
Yeah, so that thing's available until,

1815
01:40:32.520 --> 01:40:33.920
I'll probably leave it available

1816
01:40:33.920 --> 01:40:36.560
to like maybe Monday, Tuesday, next week.

1817
01:40:36.560 --> 01:40:38.280
And then we'll stop because like,

1818
01:40:38.280 --> 01:40:40.520
we usually sell those things for like 1500 bucks.

1819
01:40:40.520 --> 01:40:43.720
So if anybody does need a non-disclosure,

1820
01:40:43.720 --> 01:40:45.680
non-compete agreement,

1821
01:40:45.680 --> 01:40:48.800
we have one that we've used and tailored

1822
01:40:48.800 --> 01:40:50.840
and edited and edited and edited.

1823
01:40:50.840 --> 01:40:52.000
So it's really good.

1824
01:40:52.000 --> 01:40:53.240
So if you need something like that,

1825
01:40:53.240 --> 01:40:55.760
we're making that available to you guys

1826
01:40:55.760 --> 01:40:57.960
for like 500 bucks, if you guys want it.

1827
01:40:57.960 --> 01:41:02.680
Now you can go online and like get a generic NDA, right?

1828
01:41:02.680 --> 01:41:04.120
But it doesn't have a lot of the stuff

1829
01:41:04.120 --> 01:41:04.960
that we have in there.

1830
01:41:04.960 --> 01:41:06.520
So it's up to you guys.

1831
01:41:06.520 --> 01:41:08.960
How does it differ from the free ones on it?

1832
01:41:08.960 --> 01:41:10.200
Ah, that's hilarious.

1833
01:41:10.200 --> 01:41:11.400
I literally just said that.

1834
01:41:11.400 --> 01:41:13.600
And then you type that, that's hilarious.

1835
01:41:13.600 --> 01:41:17.040
So yeah, so a lot of the non-disclosures

1836
01:41:17.040 --> 01:41:19.560
that are out there are missing a lot of things.

1837
01:41:19.560 --> 01:41:21.720
Like they miss indemnification agreements,

1838
01:41:21.720 --> 01:41:25.400
they miss non-compete provisions.

1839
01:41:25.400 --> 01:41:28.280
So if you're disclosing something to another party,

1840
01:41:28.280 --> 01:41:31.680
it's missing a lot of the provisions on what happens

1841
01:41:31.680 --> 01:41:33.160
with the technology going forward.

1842
01:41:33.160 --> 01:41:35.240
Maybe tell us reasons why we need one.

1843
01:41:36.440 --> 01:41:37.600
We don't realize we do.

1844
01:41:38.920 --> 01:41:42.280
Okay, so who here knows what a non-disclosure agreement is?

1845
01:41:42.280 --> 01:41:43.480
Just by a show of hands.

1846
01:41:44.360 --> 01:41:45.680
Okay, some people don't.

1847
01:41:45.680 --> 01:41:47.240
Okay, all right.

1848
01:41:47.240 --> 01:41:50.480
So if you, and this will be the last thing we cover

1849
01:41:50.480 --> 01:41:54.800
because, well, we had interference with technology.

1850
01:41:54.800 --> 01:41:57.240
So I'm just throwing in some extra time.

1851
01:41:57.240 --> 01:42:02.240
All right, so if you're going to meet with a third party

1852
01:42:02.320 --> 01:42:06.760
over what you're doing and you don't want the public

1853
01:42:06.760 --> 01:42:08.200
to know about what you're doing,

1854
01:42:08.200 --> 01:42:11.960
you wanna control the disclosure

1855
01:42:11.960 --> 01:42:15.040
of what you're doing to the public,

1856
01:42:15.040 --> 01:42:18.800
you can enter into what's called a non-disclosure agreement.

1857
01:42:18.840 --> 01:42:22.560
Okay, so let's say you're creating a book on something

1858
01:42:22.560 --> 01:42:25.320
and you don't want the other person to take your idea

1859
01:42:25.320 --> 01:42:29.760
for the book and then go write the book themselves

1860
01:42:29.760 --> 01:42:33.200
or hire a third party to create the book and then sell it.

1861
01:42:33.200 --> 01:42:35.400
You would have a non-disclosure agreement.

1862
01:42:35.400 --> 01:42:37.040
So now they can't disclose it to another,

1863
01:42:37.040 --> 01:42:39.880
but the non-compete provision says that

1864
01:42:39.880 --> 01:42:42.240
whatever you disclose to them,

1865
01:42:42.240 --> 01:42:46.280
they now cannot do that same thing

1866
01:42:47.280 --> 01:42:49.520
unless they can prove that they were already doing it

1867
01:42:49.520 --> 01:42:50.920
before you had that meeting.

1868
01:42:52.040 --> 01:42:53.680
Okay, so there's extra provisions

1869
01:42:53.680 --> 01:42:56.280
in the non-disclosure, non-compete provision

1870
01:42:56.280 --> 01:42:57.880
that says agreement.

1871
01:42:57.880 --> 01:43:00.040
I think it's like, I don't know how many pages long,

1872
01:43:00.040 --> 01:43:01.240
it's pretty big.

1873
01:43:01.240 --> 01:43:03.880
But basically what it says is that

1874
01:43:03.880 --> 01:43:06.440
if you can actually prove that you've been doing this thing

1875
01:43:06.440 --> 01:43:08.760
with actual paperwork and proof,

1876
01:43:08.760 --> 01:43:11.040
like literal legal proof that you've been doing it

1877
01:43:11.040 --> 01:43:13.040
before I disclosed it to you, then fine.

1878
01:43:13.040 --> 01:43:15.760
And I can't stop you from doing what you're already doing.

1879
01:43:15.840 --> 01:43:17.000
But if that's not the case,

1880
01:43:17.000 --> 01:43:20.040
you can't disclose it to a third party and you can't do it

1881
01:43:20.040 --> 01:43:22.560
and you can't tell another party how to do it.

1882
01:43:22.560 --> 01:43:24.640
Like that's how you lock up

1883
01:43:24.640 --> 01:43:27.960
what's proprietary to you in your negotiations.

1884
01:43:27.960 --> 01:43:30.960
If you instead just start having meetings with people,

1885
01:43:30.960 --> 01:43:34.480
hey, publisher, yeah, I've got this great idea for a book.

1886
01:43:34.480 --> 01:43:36.840
It's blah, blah, blah, blah, blah.

1887
01:43:36.840 --> 01:43:37.680
Are you interested?

1888
01:43:37.680 --> 01:43:41.120
They might say, yeah, no, we're not really interested.

1889
01:43:41.120 --> 01:43:43.480
And then they go speak to one of their authors and say,

1890
01:43:43.480 --> 01:43:46.240
hey, look, I've got a great idea for a book.

1891
01:43:46.240 --> 01:43:48.720
Why don't you write a book on the following?

1892
01:43:49.560 --> 01:43:52.160
Now their author creates a book on that thing.

1893
01:43:52.160 --> 01:43:54.840
And since they gave the idea to the author,

1894
01:43:54.840 --> 01:43:57.520
they take percentages of that, right?

1895
01:43:57.520 --> 01:44:00.040
Because you didn't have a non-disclosure in place

1896
01:44:00.040 --> 01:44:01.560
and a non-compete in place.

1897
01:44:01.560 --> 01:44:04.760
So that's where a non-disclosure, non-compete comes in place

1898
01:44:04.760 --> 01:44:06.440
is that it allows you to have these meetings

1899
01:44:06.440 --> 01:44:09.320
with third parties to negotiate things,

1900
01:44:09.320 --> 01:44:13.760
to even hire people to work on your apps,

1901
01:44:13.760 --> 01:44:18.760
your software, whatever materials are that you're providing.

1902
01:44:21.160 --> 01:44:23.240
And you don't have to worry about them competing with you

1903
01:44:23.240 --> 01:44:25.200
because you've locked it down.

1904
01:44:25.200 --> 01:44:27.680
What about non-compete in a license agreement?

1905
01:44:27.680 --> 01:44:30.400
Or is that usually included in a license agreement?

1906
01:44:30.400 --> 01:44:31.480
Good question.

1907
01:44:31.480 --> 01:44:35.000
Do you usually have non-competes in a license agreement?

1908
01:44:35.080 --> 01:44:39.840
You can add non-compete provisions in,

1909
01:44:39.840 --> 01:44:42.560
like I have certain license agreements

1910
01:44:42.560 --> 01:44:44.720
that have those provisions.

1911
01:44:44.720 --> 01:44:46.000
Those are pretty thick.

1912
01:44:47.440 --> 01:44:50.120
Like usually in a license agreement,

1913
01:44:50.120 --> 01:44:53.960
you'll have things like what you're trying to accomplish,

1914
01:44:53.960 --> 01:44:55.520
what they're trying to accomplish,

1915
01:44:55.520 --> 01:44:58.800
the royalties that are being exchanged back and forth,

1916
01:44:58.800 --> 01:45:00.200
who has legal rights.

1917
01:45:00.000 --> 01:45:05.160
into the technology, but then if one party does modification

1918
01:45:05.160 --> 01:45:07.080
to the technology, who has the legal rights

1919
01:45:07.080 --> 01:45:09.280
to that technology?

1920
01:45:09.280 --> 01:45:13.360
The licensee is getting indemnification provisions,

1921
01:45:13.360 --> 01:45:17.160
basically saying, look, if I do the things,

1922
01:45:17.160 --> 01:45:19.440
if I use what you're providing, you're

1923
01:45:19.440 --> 01:45:25.240
going to waive any liability that I receive because I'm

1924
01:45:25.240 --> 01:45:27.160
using what you gave me.

1925
01:45:27.160 --> 01:45:29.840
So there's indemnification provisions.

1926
01:45:29.840 --> 01:45:35.200
Now, nondisclosure, non-compete, you

1927
01:45:35.200 --> 01:45:38.320
can have nondisclosure provisions in a license

1928
01:45:38.320 --> 01:45:41.200
agreement that talks about the know-how,

1929
01:45:41.200 --> 01:45:44.920
like the language is know-how.

1930
01:45:44.920 --> 01:45:47.640
If you're talking about the procedures that

1931
01:45:47.640 --> 01:45:50.880
are done internally, you can have a nondisclosure agreement

1932
01:45:50.880 --> 01:45:54.280
that says, look, I'm going to be disclosing to you our trade

1933
01:45:54.280 --> 01:45:57.160
secrets or how we do things internally.

1934
01:45:58.040 --> 01:46:00.720
You hereby agree that you will not

1935
01:46:00.720 --> 01:46:03.640
let any third party know about these things.

1936
01:46:03.640 --> 01:46:08.040
So you totally can do that in a license agreement.

1937
01:46:08.040 --> 01:46:12.880
Now, a license agreement, I've got patent license agreements,

1938
01:46:12.880 --> 01:46:15.400
software license agreements, trademark license agreements,

1939
01:46:15.400 --> 01:46:17.080
copyright license agreements.

1940
01:46:17.080 --> 01:46:19.040
These things are verbose.

1941
01:46:19.040 --> 01:46:20.800
They're big.

1942
01:46:20.800 --> 01:46:24.880
I mean, you're talking like 10, 15 pages, 20 pages.

1943
01:46:24.880 --> 01:46:26.880
They're detailed.

1944
01:46:26.880 --> 01:46:29.880
You don't want a two-page license agreement

1945
01:46:29.880 --> 01:46:31.440
because there's too many things that

1946
01:46:31.440 --> 01:46:35.520
can go wrong in a relationship with another party

1947
01:46:35.520 --> 01:46:37.480
to use what you're providing.

1948
01:46:37.480 --> 01:46:39.440
Too many things that can go wrong.

1949
01:46:39.440 --> 01:46:41.680
Your license agreement should be anticipating

1950
01:46:41.680 --> 01:46:44.360
any of those issues and resolving those issues

1951
01:46:44.360 --> 01:46:46.640
before they happen.

1952
01:46:46.640 --> 01:46:49.040
That's what a license agreement does.

1953
01:46:49.040 --> 01:46:52.080
It makes sure that I'm going to be entering

1954
01:46:52.080 --> 01:46:56.720
into an agreement with, let's say, Carol.

1955
01:46:56.720 --> 01:46:59.680
And I know Carol is ridiculously brilliant.

1956
01:46:59.680 --> 01:47:00.680
She's very connected.

1957
01:47:00.680 --> 01:47:03.080
She has great networks.

1958
01:47:03.080 --> 01:47:05.280
She's a great coach.

1959
01:47:05.280 --> 01:47:08.400
I want to license to her, make sure she does well financially.

1960
01:47:08.400 --> 01:47:09.680
I do well financially.

1961
01:47:09.680 --> 01:47:12.560
But at the same time, I don't want her taking what I did

1962
01:47:12.560 --> 01:47:15.840
and incorporate what I did into her own program

1963
01:47:15.840 --> 01:47:17.280
and not send me a royalty.

1964
01:47:17.280 --> 01:47:21.320
So my license agreement should address that situation.

1965
01:47:21.720 --> 01:47:23.560
It should make it very clear.

1966
01:47:23.560 --> 01:47:25.320
There's provisions in a license agreement

1967
01:47:25.320 --> 01:47:28.760
that talk about what's called confidential information.

1968
01:47:28.760 --> 01:47:36.240
And that can be everything from client lists to inventions

1969
01:47:36.240 --> 01:47:39.000
to methods to systems to apparatus.

1970
01:47:39.000 --> 01:47:41.840
It could be all sorts of things in a definition of what

1971
01:47:41.840 --> 01:47:43.520
confidential information is.

1972
01:47:43.520 --> 01:47:46.800
So all of that basically to say, in your license agreements,

1973
01:47:46.800 --> 01:47:48.480
make sure they're win-win.

1974
01:47:48.480 --> 01:47:50.520
You can't have non-disclosure, non-competes

1975
01:47:50.560 --> 01:47:52.200
in your license agreement.

1976
01:47:52.200 --> 01:47:54.000
License agreements cost way more

1977
01:47:54.000 --> 01:47:55.560
than a non-disclosure, non-compete,

1978
01:47:55.560 --> 01:47:57.880
which is $500.

1979
01:47:57.880 --> 01:48:03.360
License agreement will cost you $5,000, $8,000,

1980
01:48:03.360 --> 01:48:06.480
depending on the complexity of the license agreement

1981
01:48:06.480 --> 01:48:11.240
and the negotiation that takes place in that process.

1982
01:48:11.240 --> 01:48:13.800
But a license agreement, a good license agreement,

1983
01:48:13.800 --> 01:48:16.040
will lead to a long-term relationship

1984
01:48:16.040 --> 01:48:19.960
that should be very, very financially rewarding for you.

1985
01:48:23.440 --> 01:48:24.640
Any questions on that?

1986
01:48:24.640 --> 01:48:27.400
And then I think we'll close from there.

1987
01:48:27.400 --> 01:48:27.920
Is that good?

1988
01:48:27.920 --> 01:48:31.040
OK, cool, cool.

1989
01:48:31.040 --> 01:48:33.920
All right, I think we'll close there.

1990
01:48:33.920 --> 01:48:36.200
So again, on the membership stuff,

1991
01:48:36.200 --> 01:48:39.400
if you guys are coming up on expiration

1992
01:48:39.400 --> 01:48:41.720
or you've already expired, not you expired,

1993
01:48:41.720 --> 01:48:43.360
your membership expired, then we're

1994
01:48:43.360 --> 01:48:44.880
going to reach out to you.

1995
01:48:44.880 --> 01:48:46.400
And you can renew.

1996
01:48:46.400 --> 01:48:49.120
It's going to be either at that rate or lower.

1997
01:48:49.120 --> 01:48:50.480
It's my pleasure, Carol.

1998
01:48:50.480 --> 01:48:53.200
And so some of you have already renewed.

1999
01:48:53.200 --> 01:48:55.760
Some of you are coming up for renewal.

2000
01:48:55.760 --> 01:48:59.280
I think what I'm going to do for the next Protection Portal

2001
01:48:59.280 --> 01:49:02.600
session is I'm going to get a corporate lawyer to come in

2002
01:49:02.600 --> 01:49:05.480
and talk with you guys to answer some

2003
01:49:05.480 --> 01:49:08.000
of your corporate questions.

2004
01:49:08.000 --> 01:49:10.840
I figure since we have you guys here anyway,

2005
01:49:11.440 --> 01:49:14.000
this way you guys can ask general questions,

2006
01:49:14.000 --> 01:49:18.320
not get legal advice, obviously, but at the same time

2007
01:49:18.320 --> 01:49:18.920
drink water.

2008
01:49:21.840 --> 01:49:24.600
But at the same time, it applies to your business.

2009
01:49:24.600 --> 01:49:26.520
And I want to provide you any resource

2010
01:49:26.520 --> 01:49:30.640
that I can as a business to be very successful.

2011
01:49:30.640 --> 01:49:34.040
So if you're seeing that you're running into specific issues

2012
01:49:34.040 --> 01:49:38.160
and you don't know somebody in a specific field, let me know.

2013
01:49:38.200 --> 01:49:41.400
I'm very blessed with some pretty remarkable networks

2014
01:49:41.400 --> 01:49:43.520
and pretty remarkable contacts.

2015
01:49:43.520 --> 01:49:45.960
And so I can get people from anywhere

2016
01:49:45.960 --> 01:49:47.760
from the copyright office, the patent office.

2017
01:49:47.760 --> 01:49:51.600
I could probably even get the director of the United States

2018
01:49:51.600 --> 01:49:53.480
Patent and Trademark Office to show up,

2019
01:49:53.480 --> 01:49:57.200
were it not the fact that I think he put you to sleep.

2020
01:49:57.200 --> 01:50:01.520
But anyways, if there's certain things that you want to know,

2021
01:50:00.000 --> 01:50:03.300
things that you need, let let me know. And then what I'll do in

2022
01:50:01.520 --> 01:50:03.480
I'll be happy to talk to you guys.

2023
01:50:03.300 --> 01:50:08.700
the Facebook group is I'll go in there. And I'll say, and I'll

2024
01:50:03.480 --> 01:50:06.560
And I'll be happy to answer any questions you have.

2025
01:50:08.700 --> 01:50:11.940
say to, you know, to other people, hey, do you have

2026
01:50:11.940 --> 01:50:14.140
interest in this, and there's enough interest, and I'll get

2027
01:50:14.140 --> 01:50:19.380
somebody who specifically is in that area. Sonya, is this your

2028
01:50:19.380 --> 01:50:24.420
first protection portal meeting? This is your second, right? Your

2029
01:50:24.420 --> 01:50:30.220
third? Okay, cool. It's Pam's first, right? Pam, does your

2030
01:50:30.220 --> 01:50:31.020
camera work?

2031
01:50:32.060 --> 01:50:39.820
Yeah, it does. Oh, I have to hang on. I don't know why it's

2032
01:50:39.820 --> 01:50:45.980
not working. Oh, I see. I have to click. Sorry. You can see my

2033
01:50:46.780 --> 01:50:48.220
what? It's not working.

2034
01:50:49.100 --> 01:50:53.660
There you are. Pam, everybody want to introduce you to Pam.

2035
01:50:53.900 --> 01:50:56.620
She's a new member in the group. We had a few different people

2036
01:50:56.620 --> 01:50:59.540
that actually joined us in the last challenge. Pam's one of

2037
01:50:59.540 --> 01:51:01.700
them. Pam, do you want to take a minute and just say who you are

2038
01:51:01.700 --> 01:51:04.660
what you do? And we'll take it from there.

2039
01:51:05.140 --> 01:51:08.860
Yeah, I'm starting a publishing business. And I applied for an

2040
01:51:08.860 --> 01:51:13.500
LLC in Wyoming, and I was just going to go on to the trademark

2041
01:51:14.100 --> 01:51:20.140
USPTO, whatever, POT, whatever, to see if I can trademark the

2042
01:51:20.140 --> 01:51:27.700
name of the LLC. And I already got a domain name. But the one

2043
01:51:27.700 --> 01:51:32.380
name that I'm naming my LLC, unfortunately, is being hoarded

2044
01:51:32.380 --> 01:51:37.180
by one of those, you know, scalpers that a few thousand

2045
01:51:37.180 --> 01:51:40.780
dollars for it, which really pisses me off. But I suppose

2046
01:51:40.780 --> 01:51:43.140
eventually, if I ever make enough money with this

2047
01:51:43.140 --> 01:51:47.820
publishing business, I'll have to cave but so I so right now

2048
01:51:47.820 --> 01:51:52.220
it's known as the dot dot dot group. And that's my email.

2049
01:51:52.940 --> 01:51:55.660
Do you have you been using that name already? Or is that

2050
01:51:55.660 --> 01:51:56.780
something you're going to use?

2051
01:51:58.260 --> 01:52:01.220
Well, I, I haven't really used it, per se.

2052
01:52:01.700 --> 01:52:06.300
All right. The reason why I asked that is because under what

2053
01:52:06.300 --> 01:52:09.380
you're talking about takes me off a lot. Like it bothers me

2054
01:52:09.380 --> 01:52:13.740
when that happens. And so I actually, it's one of my sweet

2055
01:52:13.740 --> 01:52:18.060
spots. So what I actually train people on is, if you actually

2056
01:52:18.060 --> 01:52:21.260
own the trademark, and somebody takes the domain name under the

2057
01:52:21.260 --> 01:52:24.820
domain name dispute policy, you can make them surrender it. You

2058
01:52:24.820 --> 01:52:28.340
know, all you do is like a nasty gram from a lawyer and done,

2059
01:52:28.380 --> 01:52:32.140
you know, and they just they just cower. But if you don't

2060
01:52:32.140 --> 01:52:35.940
own the trademark, then it's, it's not the case. It doesn't

2061
01:52:35.940 --> 01:52:36.660
work that way.

2062
01:52:37.220 --> 01:52:40.220
That's today's mission is to get the trademark, if it's even

2063
01:52:40.220 --> 01:52:40.900
possible.

2064
01:52:41.180 --> 01:52:44.540
Yeah, so do that trademark search online, Ray, what's up?

2065
01:52:45.740 --> 01:52:48.780
I'm just to answer Pam's question here, too, in the chat,

2066
01:52:49.180 --> 01:52:52.380
you have been emailed your access to your members portal,

2067
01:52:52.420 --> 01:52:55.620
it'll have our last challenge that you participated in. The

2068
01:52:55.620 --> 01:53:00.260
replays are in there. And then we'll be going over stuff for

2069
01:53:00.260 --> 01:53:01.900
you with you and your audit as well.

2070
01:53:02.500 --> 01:53:03.980
Okay, very good. Thank you.

2071
01:53:04.020 --> 01:53:07.380
But you are allowed to sit in on the next challenge, which we

2072
01:53:08.260 --> 01:53:13.460
Yeah, July 24. But we're not ready to tell the public. So

2073
01:53:13.460 --> 01:53:16.020
just wait, wait a second on that. We're working on getting

2074
01:53:16.020 --> 01:53:16.580
it ready.

2075
01:53:16.700 --> 01:53:20.060
You guys actually find out about everything way before others.

2076
01:53:20.100 --> 01:53:25.220
And we just got hired by I mean, God permitting it all plays

2077
01:53:25.220 --> 01:53:28.260
through but we got hired by Ohio State to create a curriculum for

2078
01:53:28.260 --> 01:53:32.060
them to create like an online course for them. And so we're

2079
01:53:32.060 --> 01:53:36.820
going to provide a not as comprehensive as a protector idea

2080
01:53:36.820 --> 01:53:40.220
challenge, it's it's going to be more of, I'm going to do a

2081
01:53:40.220 --> 01:53:44.660
free challenge for people. That is basically, you know,

2082
01:53:44.660 --> 01:53:48.420
congratulations, you're an entrepreneur. Do you need to

2083
01:53:48.420 --> 01:53:53.380
know what IP is? That's it just at a top level. Right? Not not,

2084
01:53:53.620 --> 01:53:57.300
not like doing what we do in the protector idea challenge, but

2085
01:53:57.300 --> 01:54:01.220
just saying like, alright, what exactly is your focus as an

2086
01:54:01.220 --> 01:54:04.780
entrepreneur is IP and even an even important issue to you at

2087
01:54:04.780 --> 01:54:08.460
all. Like, so you know, if you're creating new inventions,

2088
01:54:08.460 --> 01:54:12.340
but they're obsolete within a year, who cares? Like, don't

2089
01:54:12.340 --> 01:54:15.060
file patents, waste of time, waste of money, trade secrets

2090
01:54:15.060 --> 01:54:18.260
don't even apply. Don't even bother, like just kind of

2091
01:54:18.260 --> 01:54:21.420
flagging things. So people as entrepreneurs can say, oh,

2092
01:54:21.700 --> 01:54:24.820
that's important. Oh, that's not important. So we're going to do

2093
01:54:24.820 --> 01:54:28.460
that. But any member of the protection portal gets to go

2094
01:54:28.460 --> 01:54:31.900
into any protector idea challenge for free for the

2095
01:54:32.900 --> 01:54:37.340
so just so I don't wander around and waste too much time. Once I

2096
01:54:37.340 --> 01:54:43.700
go for a clearing search, then is there any instructions on the

2097
01:54:43.700 --> 01:54:45.340
portal? What to do after that?

2098
01:54:46.380 --> 01:54:51.780
Yeah, so you're did you do the IP audit? Not yet. Okay, but but

2099
01:54:51.780 --> 01:54:54.220
you signed up for the foundations and IP package,

2100
01:54:54.220 --> 01:54:59.260
right? Correct. Yeah, so it's all covered. So you're will do

2101
01:54:59.260 --> 01:55:00.020
a search for you.

2102
01:55:00.000 --> 01:55:02.760
we'll also do an application for you at no cost.

2103
01:55:02.760 --> 01:55:03.600
It's all covered.

2104
01:55:03.600 --> 01:55:07.640
I feel the urgency of it now after listening to today.

2105
01:55:07.640 --> 01:55:10.920
Yeah, so the beauty of the foundations and IP packages,

2106
01:55:10.920 --> 01:55:14.400
and it's funny because Pedro actually spoke into this thing

2107
01:55:14.400 --> 01:55:19.400
where we created this package and we had an IP audit,

2108
01:55:20.280 --> 01:55:22.760
but then he said, well, every time you do an audit,

2109
01:55:22.760 --> 01:55:25.360
people are asking questions about, you know,

2110
01:55:25.360 --> 01:55:26.240
names of their company.

2111
01:55:26.240 --> 01:55:28.040
Why don't you throw in a trademark?

2112
01:55:28.040 --> 01:55:29.920
I was like, what do you mean just throw it in, man?

2113
01:55:30.120 --> 01:55:31.640
It costs money to do these things.

2114
01:55:31.640 --> 01:55:32.760
You don't just throw them in.

2115
01:55:32.760 --> 01:55:34.360
He's like, no, just throw that in.

2116
01:55:34.360 --> 01:55:36.720
So we threw in the trademark certs,

2117
01:55:36.720 --> 01:55:38.560
we threw in the application and he's like,

2118
01:55:38.560 --> 01:55:40.960
well, everybody, like now that they've learned

2119
01:55:40.960 --> 01:55:43.640
what their issues are through the audit, you know,

2120
01:55:43.640 --> 01:55:44.960
they're gonna wanna be in your portal.

2121
01:55:44.960 --> 01:55:46.200
Like they always wanna be in the portal

2122
01:55:46.200 --> 01:55:48.400
because now during the year they can ask their questions

2123
01:55:48.400 --> 01:55:50.560
and not be charged 600 bucks an hour.

2124
01:55:50.560 --> 01:55:51.760
So why don't you throw in the portal?

2125
01:55:51.760 --> 01:55:53.520
I was like, I gotta go, bye, click.

2126
01:55:53.520 --> 01:55:55.600
I'm like, I gotta stop talking to this guy.

2127
01:55:55.600 --> 01:55:57.560
And he's just like, throw this in, throw that in.

2128
01:55:57.560 --> 01:55:58.720
I'm like, geez.

2129
01:55:58.720 --> 01:56:03.680
So in any case, for you, the way you have,

2130
01:56:03.680 --> 01:56:07.120
you can email support at elite-challenges.com

2131
01:56:07.120 --> 01:56:09.120
if you have any questions,

2132
01:56:09.120 --> 01:56:11.960
but the scheduling of the IP audit,

2133
01:56:11.960 --> 01:56:14.320
Ray will help you, you know, schedule that.

2134
01:56:15.160 --> 01:56:18.600
When you're ready to do a trademark application,

2135
01:56:18.600 --> 01:56:20.640
just let us know and we'll go down the route

2136
01:56:20.640 --> 01:56:22.040
of doing the quick search for you

2137
01:56:22.040 --> 01:56:24.280
and then, you know, getting the application.

2138
01:56:24.280 --> 01:56:28.120
We'll send you a form for filling out for the application

2139
01:56:28.200 --> 01:56:30.240
and we'll walk you through that as well.

2140
01:56:30.240 --> 01:56:31.080
Okay.

2141
01:56:31.080 --> 01:56:32.920
And Pam, in your email inbox,

2142
01:56:32.920 --> 01:56:35.040
I sent you an engagement letter

2143
01:56:35.040 --> 01:56:37.160
that I need signed and returned

2144
01:56:37.160 --> 01:56:39.680
and then we can work towards getting you scheduled.

2145
01:56:39.680 --> 01:56:40.520
That's weird.

2146
01:56:40.520 --> 01:56:42.160
That's for all the legal work, yeah.

2147
01:56:42.160 --> 01:56:43.000
Yeah.

2148
01:56:43.000 --> 01:56:44.200
I signed a listing agreement yesterday

2149
01:56:44.200 --> 01:56:45.320
and it didn't get sent.

2150
01:56:45.320 --> 01:56:48.960
And I think I signed yours too, Ray, but I'll check.

2151
01:56:48.960 --> 01:56:49.920
Okay.

2152
01:56:49.920 --> 01:56:52.440
Maybe something's going on with my computer or something.

2153
01:56:52.440 --> 01:56:53.280
I don't know.

2154
01:56:53.280 --> 01:56:55.480
And just a heads up, because our meeting is long,

2155
01:56:55.480 --> 01:56:56.520
everyone be patient.

2156
01:56:56.520 --> 01:56:58.440
I will get the replay in the members portal

2157
01:56:58.440 --> 01:56:59.280
as soon as possible.

2158
01:56:59.280 --> 01:57:00.120
Oh, I know.

2159
01:57:00.120 --> 01:57:00.960
Yeah.

2160
01:57:00.960 --> 01:57:01.800
It's going to take a long time to process.

2161
01:57:01.800 --> 01:57:03.360
This is the longest we've done ever, actually.

2162
01:57:03.360 --> 01:57:04.200
Eileen, what's up?

2163
01:57:04.200 --> 01:57:05.600
Yeah, but it's good stuff.

2164
01:57:05.600 --> 01:57:06.520
Okay.

2165
01:57:06.520 --> 01:57:07.400
My quick question is,

2166
01:57:07.400 --> 01:57:10.400
so I've got the trademark in process, right, with you.

2167
01:57:11.600 --> 01:57:14.360
So I didn't realize that my logo was,

2168
01:57:14.360 --> 01:57:19.160
it's ready and I'm going to need it by like July 15th.

2169
01:57:19.160 --> 01:57:20.960
So what would be the timeframe?

2170
01:57:20.960 --> 01:57:23.320
Is there an urgency to protect that?

2171
01:57:23.320 --> 01:57:25.200
Is there, is it a you thing?

2172
01:57:25.200 --> 01:57:26.680
Is it a me thing?

2173
01:57:26.680 --> 01:57:28.240
And then the LLC.

2174
01:57:28.240 --> 01:57:29.080
So your logo,

2175
01:57:29.080 --> 01:57:31.120
I know there were two different ones you were looking at.

2176
01:57:31.120 --> 01:57:32.680
Did you decide which one you're going with?

2177
01:57:32.680 --> 01:57:33.520
Yeah.

2178
01:57:33.520 --> 01:57:35.600
So I got all the files.

2179
01:57:35.600 --> 01:57:38.520
So all of the recitation of services

2180
01:57:38.520 --> 01:57:39.760
are going to be exactly the same

2181
01:57:39.760 --> 01:57:40.840
because the logo is being used

2182
01:57:40.840 --> 01:57:43.480
for the same purpose as the word mark, right?

2183
01:57:43.480 --> 01:57:44.680
So all I need,

2184
01:57:44.680 --> 01:57:47.880
all I would need from you then for the filing,

2185
01:57:47.880 --> 01:57:50.280
we're going to file an intent to use application.

2186
01:57:50.280 --> 01:57:53.160
So what you would do is send in

2187
01:57:53.160 --> 01:57:56.760
the formal final version of the logo.

2188
01:57:56.760 --> 01:57:57.760
That's it.

2189
01:57:57.760 --> 01:57:58.960
I don't need anything else

2190
01:57:58.960 --> 01:58:02.320
because everything else is going to mimic the word mark.

2191
01:58:02.320 --> 01:58:05.080
So just take like a really high,

2192
01:58:05.080 --> 01:58:08.440
high end, you know, high quality image,

2193
01:58:08.440 --> 01:58:11.520
but the USPTO, let me check and see.

2194
01:58:11.520 --> 01:58:14.440
The USPTO actually has certain regulations

2195
01:58:14.440 --> 01:58:18.400
as to what the DPIs can be.

2196
01:58:18.400 --> 01:58:19.760
So just send me what you got,

2197
01:58:20.120 --> 01:58:22.040
make sure it's black and white.

2198
01:58:22.040 --> 01:58:23.360
Can't be anything but black and white.

2199
01:58:23.360 --> 01:58:25.280
And for everybody here, when you file logos,

2200
01:58:25.280 --> 01:58:27.880
file them in black and white, don't file them in color.

2201
01:58:27.880 --> 01:58:32.440
Black and white covers everything that's in color.

2202
01:58:32.440 --> 01:58:33.680
But if you file in color,

2203
01:58:33.680 --> 01:58:35.920
it doesn't cover everything that's in color.

2204
01:58:35.920 --> 01:58:37.480
Not only covers that color.

2205
01:58:37.480 --> 01:58:39.840
So if you file in black and white, you get everything.

2206
01:58:39.840 --> 01:58:42.160
That's kind of a secret to the industry.

2207
01:58:42.160 --> 01:58:44.240
So, but nobody will tell you that.

2208
01:58:44.240 --> 01:58:47.040
So that's why you always file black and white.

2209
01:58:47.040 --> 01:58:50.000
When do you, the intent to use and the use,

2210
01:58:50.000 --> 01:58:53.040
when does that transition?

2211
01:58:53.040 --> 01:58:55.600
Yeah, so when you actually start using the trademark

2212
01:58:55.600 --> 01:58:57.200
in interstate commerce, right?

2213
01:58:57.200 --> 01:58:58.400
You're doing sales.

2214
01:59:00.160 --> 01:59:02.840
What you would want to do is,

2215
01:59:02.840 --> 01:59:05.760
if the logo is being used on packaging

2216
01:59:05.760 --> 01:59:07.640
or the logo is being used on product

2217
01:59:07.640 --> 01:59:10.680
or the logo is being used associated with a service,

2218
01:59:10.680 --> 01:59:14.560
the way it works is that if it's a product,

2219
01:59:14.560 --> 01:59:16.240
the logo would have to be on the product

2220
01:59:16.240 --> 01:59:17.760
or the packaging of the product.

2221
01:59:17.760 --> 01:59:21.920
If it's a service, then the logo would have to be used

2222
01:59:22.880 --> 01:59:24.920
in a manner advertising the service

2223
01:59:24.920 --> 01:59:27.600
where a party can purchase the service.

2224
01:59:27.600 --> 01:59:30.080
Okay, so let's say as an example,

2225
01:59:30.080 --> 01:59:33.920
like I own a protection portal, right?

2226
01:59:33.920 --> 01:59:36.560
So for a specimen for protection portal,

2227
01:59:36.560 --> 01:59:41.560
I actually used the funnel that says protection portal on it

2228
01:59:42.240 --> 01:59:44.480
mentions what's included in the protection portal

2229
01:59:44.480 --> 01:59:46.800
and gives the option to buy it.

2230
01:59:46.800 --> 01:59:49.080
That was a good specimen and received by them

2231
01:59:49.080 --> 01:59:51.000
and accepted, right?

2232
01:59:51.000 --> 01:59:55.880
So if you're using the logo for, let's say wine, right?

2233
01:59:55.880 --> 01:59:58.960
So then that logo would have to be on the product.

2234
01:59:58.960 --> 02:00:02.880
And then if you're using the logo for, let's say wine,

2235
02:00:00.000 --> 02:00:02.760
go on the packaging, right, either on the box

2236
02:00:02.760 --> 02:00:05.440
or on the wine itself, right?

2237
02:00:02.880 --> 02:00:03.720
right?

2238
02:00:03.720 --> 02:00:06.240
So then that logo would have to be on the product.

2239
02:00:05.440 --> 02:00:08.200
And then you ship, you send me a, you don't ship,

2240
02:00:06.240 --> 02:00:09.040
And then if you're using the logo for, let's say wine,

2241
02:00:08.200 --> 02:00:09.200
then you ship me some wine.

2242
02:00:09.200 --> 02:00:12.160
No, then you actually send me the picture.

2243
02:00:12.160 --> 02:00:13.840
Don't, it's all over it, where is she?

2244
02:00:13.840 --> 02:00:15.680
Do you notice that subliminal message?

2245
02:00:15.680 --> 02:00:16.600
Then you ship me wine.

2246
02:00:16.600 --> 02:00:19.940
No, then you actually, after you do that,

2247
02:00:21.160 --> 02:00:24.000
you can, you just send me that image,

2248
02:00:24.000 --> 02:00:27.840
the picture of the label on the product,

2249
02:00:27.840 --> 02:00:29.600
and then we would file that.

2250
02:00:29.600 --> 02:00:33.800
Now, if you are going to start shipping product

2251
02:00:33.800 --> 02:00:37.400
like in two weeks, wait, you know,

2252
02:00:37.400 --> 02:00:39.640
till you ship your first product, you know,

2253
02:00:39.640 --> 02:00:42.320
and then, or you can take a picture of it now,

2254
02:00:42.320 --> 02:00:45.100
and the second that you actually have your first order,

2255
02:00:45.100 --> 02:00:47.200
then you're actually using it in interstate commerce,

2256
02:00:47.200 --> 02:00:48.440
and we could file from that day,

2257
02:00:48.440 --> 02:00:51.100
and we use that date as the date of first use

2258
02:00:51.100 --> 02:00:53.860
in interstate commerce, right?

2259
02:00:53.860 --> 02:00:56.560
So if it's gonna be very soon,

2260
02:00:56.560 --> 02:01:00.240
then you don't have to pay the money for the petition.

2261
02:01:00.240 --> 02:01:03.660
Like there's a petition that would have to be filed later

2262
02:01:03.660 --> 02:01:05.440
to change an intent to use application

2263
02:01:05.440 --> 02:01:06.800
to an actual use application.

2264
02:01:06.800 --> 02:01:08.720
You don't have to pay that

2265
02:01:08.720 --> 02:01:11.640
if you're gonna be using it very shortly.

2266
02:01:11.640 --> 02:01:12.480
You can just-

2267
02:01:12.480 --> 02:01:16.180
So just dump the whole intent to use, go right to-

2268
02:01:16.180 --> 02:01:17.720
If it's gonna be very soon,

2269
02:01:17.720 --> 02:01:19.120
like if it's gonna be very soon,

2270
02:01:19.120 --> 02:01:22.280
and you're not concerned about somebody stealing it,

2271
02:01:22.280 --> 02:01:24.480
you know, right away.

2272
02:01:24.480 --> 02:01:25.880
So let's say within two weeks,

2273
02:01:26.200 --> 02:01:29.720
you're gonna start selling wine using the logo, right?

2274
02:01:29.720 --> 02:01:33.080
Then what you do is you take a picture of the bottle

2275
02:01:33.080 --> 02:01:35.720
with the logo on it, right?

2276
02:01:35.720 --> 02:01:38.220
Well, the packaging with the logo on it,

2277
02:01:38.220 --> 02:01:40.360
and you send me that picture,

2278
02:01:40.360 --> 02:01:43.160
then separately, you send me just the logo itself,

2279
02:01:43.160 --> 02:01:48.160
not as a picture, but as a, you know, a PDF or JPEG,

2280
02:01:48.400 --> 02:01:51.400
and we use that as the logo image,

2281
02:01:56.280 --> 02:01:59.800
and then we use the specimen as the picture

2282
02:01:59.800 --> 02:02:02.080
of the wine with the logo on it.

2283
02:02:02.080 --> 02:02:04.600
Those are filed together in one application

2284
02:02:04.600 --> 02:02:07.080
with the date of first use in interstate commerce.

2285
02:02:07.080 --> 02:02:08.280
So you don't have to change it

2286
02:02:08.280 --> 02:02:11.280
from a section 1B application to a 1A.

2287
02:02:11.280 --> 02:02:13.960
It becomes an actual use application.

2288
02:02:13.960 --> 02:02:15.280
Okay.

2289
02:02:15.280 --> 02:02:16.720
Yeah.

2290
02:02:16.720 --> 02:02:17.840
All right.

2291
02:02:17.840 --> 02:02:18.680
You're welcome.

2292
02:02:18.680 --> 02:02:21.280
Samuel, last question, and we're done.

2293
02:02:21.280 --> 02:02:22.320
Yeah.

2294
02:02:22.320 --> 02:02:23.160
Awesome.

2295
02:02:23.480 --> 02:02:26.520
Related to what you were talking to Carol about,

2296
02:02:28.320 --> 02:02:31.200
can you, I think you call it a demand.

2297
02:02:31.200 --> 02:02:33.920
If you can, if you register a trademark,

2298
02:02:33.920 --> 02:02:35.920
do you now have rights to that domain

2299
02:02:35.920 --> 02:02:37.280
if somebody is holding it?

2300
02:02:37.280 --> 02:02:38.480
Like, do you make a demand?

2301
02:02:38.480 --> 02:02:40.720
Not until you get a federal registration.

2302
02:02:40.720 --> 02:02:42.360
But you can afterwards?

2303
02:02:42.360 --> 02:02:44.120
Yes, after you get, well, all right.

2304
02:02:44.120 --> 02:02:45.880
So that's a really good question.

2305
02:02:45.880 --> 02:02:48.280
So let's say somebody else is using the domain name,

2306
02:02:48.280 --> 02:02:52.360
and then you file a trademark application,

2307
02:02:52.480 --> 02:02:53.320
and then you get a federal registration.

2308
02:02:53.320 --> 02:02:55.920
Can you go backwards now and say,

2309
02:02:55.920 --> 02:02:58.960
well, now I own this and you can't use it?

2310
02:02:59.960 --> 02:03:00.920
I'm not 100%.

2311
02:03:00.920 --> 02:03:02.400
Let me double check on that.

2312
02:03:02.400 --> 02:03:03.240
Okay.

2313
02:03:03.240 --> 02:03:05.720
I'll double check and I'll post it in the Facebook group

2314
02:03:05.720 --> 02:03:08.480
because I'm not 100% on that.

2315
02:03:08.480 --> 02:03:10.080
I don't think that would be fair.

2316
02:03:10.080 --> 02:03:12.640
Like if somebody has been using a domain name,

2317
02:03:12.640 --> 02:03:14.280
and then all of a sudden I'm like,

2318
02:03:14.280 --> 02:03:16.200
oh man, I should file a federal registration

2319
02:03:16.200 --> 02:03:17.280
for that same name.

2320
02:03:17.280 --> 02:03:20.440
And then I go back and I say, hey, you can't use it

2321
02:03:20.440 --> 02:03:21.680
because I have a federal registration.

2322
02:03:21.720 --> 02:03:23.720
I don't think that'd be fair,

2323
02:03:23.720 --> 02:03:28.040
but I'll double check and I'll post it in the Facebook group.

2324
02:03:28.040 --> 02:03:28.880
Awesome.

2325
02:03:28.880 --> 02:03:29.720
Thank you.

2326
02:03:29.720 --> 02:03:30.560
Yeah, you're welcome.

2327
02:03:30.560 --> 02:03:31.720
Yes, Rae.

2328
02:03:31.720 --> 02:03:33.800
I have a question back to Eileen's,

2329
02:03:33.800 --> 02:03:37.360
is if you have an intent to use application,

2330
02:03:37.360 --> 02:03:39.040
when you file that petition,

2331
02:03:39.040 --> 02:03:42.360
do you have to do it, submit it before you get

2332
02:03:42.360 --> 02:03:45.120
that first sale or do you do it right after?

2333
02:03:46.400 --> 02:03:49.680
So it has, you have to actually already be using

2334
02:03:49.680 --> 02:03:50.760
it in interstate commerce.

2335
02:03:50.800 --> 02:03:52.200
Now that can be,

2336
02:03:52.200 --> 02:03:53.240
there's a number of different things

2337
02:03:53.240 --> 02:03:57.440
that they say could qualify, but sales always qualify.

2338
02:03:58.680 --> 02:03:59.520
Right?

2339
02:03:59.520 --> 02:04:01.600
So I would wait, you actually do an actual sale,

2340
02:04:01.600 --> 02:04:03.400
boom, that's your date, done.

2341
02:04:04.480 --> 02:04:05.320
Right?

2342
02:04:05.320 --> 02:04:06.920
Now there's two dates that you're actually providing

2343
02:04:06.920 --> 02:04:08.480
on a trademark application.

2344
02:04:08.480 --> 02:04:10.600
There's your date of use in interstate commerce,

2345
02:04:10.600 --> 02:04:13.760
and then there's your date of use anywhere.

2346
02:04:13.760 --> 02:04:15.240
That means even internally.

2347
02:04:16.200 --> 02:04:17.680
So let's say that you've been using a name

2348
02:04:17.680 --> 02:04:19.320
within your company for a year and a half,

2349
02:04:19.320 --> 02:04:21.360
and you ever filed a trademark application,

2350
02:04:21.360 --> 02:04:24.400
you list that date that you used it internally,

2351
02:04:24.400 --> 02:04:26.760
plus the date that you had to start sales,

2352
02:04:26.760 --> 02:04:29.200
you use that date as well.

2353
02:04:29.200 --> 02:04:30.040
Use both.

2354
02:04:32.440 --> 02:04:33.280
Okay.

2355
02:04:33.280 --> 02:04:34.560
I think that's enough for today.

2356
02:04:34.560 --> 02:04:39.560
That was like two hours in change of IP.

2357
02:04:39.720 --> 02:04:40.680
I'm impressed.

2358
02:04:40.680 --> 02:04:42.400
You guys are like a sponge.

2359
02:04:42.400 --> 02:04:43.480
That's awesome.

2360
02:04:43.480 --> 02:04:46.640
So, oh, thank you, Rae.

2361
02:04:46.640 --> 02:04:47.960
Yeah, I love you guys.

2362
02:04:47.960 --> 02:04:49.120
I want to see you guys.

2363
02:04:49.920 --> 02:04:51.880
I hope you be incredibly successful.

2364
02:04:51.880 --> 02:04:53.880
If you're in situations, again,

2365
02:04:53.880 --> 02:04:56.880
where you've got a lot going on,

2366
02:04:56.880 --> 02:04:59.880
you're trying to figure out what to do first, second, third,

2367
02:05:00.000 --> 02:05:05.680
is this, what is, do I need protection here? Do I not? Do I spend money here? Do I not? Do I partner

2368
02:05:05.680 --> 02:05:11.440
with this party? Do I hire this service? Whatever it is. And you want to have like, like an opportunity

2369
02:05:11.440 --> 02:05:16.480
to go through all this thing at once. That's what the IP audit is. That's what the foundations and

2370
02:05:16.480 --> 02:05:22.720
IP packages. I know for some of you that did not exist back in the day when you first became a

2371
02:05:22.720 --> 02:05:27.360
member of the protection portal. So if you're coming up for renewal, you may want to take

2372
02:05:27.360 --> 02:05:34.640
advantage of that because the protection portal is provided for free to members who take the

2373
02:05:34.640 --> 02:05:39.920
foundations and IP package because the foundation... For a year. For one year. Yeah. For one year.

2374
02:05:40.880 --> 02:05:44.560
Now, I mean, we have members of the protection portal that are lifetime members.

2375
02:05:45.120 --> 02:05:49.440
Like that actually came up in the chat today. Yeah. So there, there are a number of people

2376
02:05:49.440 --> 02:05:55.040
that were like very smart in the beginning and they're like, hold it. I'm, I'm running my business,

2377
02:05:55.040 --> 02:05:58.240
you know, and, and I know I'm not going to stop and I'm going to keep having questions and I don't

2378
02:05:58.240 --> 02:06:03.360
want to pay a lawyer. So, so I want to be in here forever. So if that's something you're interested

2379
02:06:03.360 --> 02:06:08.240
in, we could talk about that. We haven't really, we did that once and I haven't really readdressed

2380
02:06:08.240 --> 02:06:14.720
that, but so separate from that, that's what the foundations and IP packages, it allows you to get

2381
02:06:14.720 --> 02:06:20.000
that one-on-one time. Like Sonia is going to have this week where we literally just go through

2382
02:06:20.000 --> 02:06:26.640
everything. But separate from that, we also try to hear from the Lord in the process. And

2383
02:06:27.760 --> 02:06:32.720
I can't promise anything in that area. I'm just amazed at what happens. I mean,

2384
02:06:34.560 --> 02:06:41.040
anybody who's done it can speak towards what actually happens. And it's it's not us. Honestly,

2385
02:06:41.040 --> 02:06:46.720
it's not us. I think it's just like, it's just amazing that there's like something's happening.

2386
02:06:46.720 --> 02:06:50.880
So it's pretty cool. So I'll leave it there because it doesn't feel right to be talking

2387
02:06:50.880 --> 02:06:57.600
about that stuff. So, all right, so bless you guys. Have a great week. If you have questions

2388
02:06:57.600 --> 02:07:03.600
again, support at Alita-challenges.com or type it in the Facebook group and we'll get back to

2389
02:07:03.600 --> 02:07:07.280
them. So I'll catch you guys later. Bless you guys. Take care.