Who owns promising ideas for new products? It’s not always so clear.
Sean Mack, an attorney with experience in intellectual property issues, says many executives who have developed innovative products, either on their own or with a new company, may find they are facing legal action claiming they stole the idea from an ex-employer.
If a court rules the executive took something that belonged to an ex-employer, there will be expensive ramifications, Mack warns. They may have to pay the employer’s lost profits. They may even have to hand over the opportunity and its profits to the ex-employer.
Mack says that one of the top issues before developing a new product is whether the executive signed either an employment agreement or a non-competition agreement. These may keep the former executive from pursuing such an opportunity.
If there is no such agreement, a company still may try to claim it owns the opportunity. If a court case is involved, the former employer will likely try to raise the issue “whether the new business is within…[the] company’s ‘line of business’ or whether the venture would bring [the executive] into competition with [the]…company, or whether [the]…company has an ‘interest or expectancy’ in that type of opportunity,” Mack adds.
For more about who owns intellectual property, as reported in Chief Executive magazine, please click here.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
