Case Study: Sheila Mason and Craig Shepherd Essay
However, this does not necessarily mean entrepreneurs will not be protected at all. When comes to intellectual properties, most of the VCs will follow the unwritten rules. It is their responsibility to protect the company’s information. If they break the rules and the word has gotten out about their misconducts, they as investment companies will lost their credits in the industry and so they will not be able to maintain their business anymore.
3. Do Mason and Shepherd need a lawyer? How should they select one?
I would highly recommend Mason to hire a lawyer because she is highly susceptible to litigation from ATS. Noncompetition, nonsolicitation, nondisclosure and development provisions limited her action during the firs year. If she wants to develop her startup by utilizing the information and social resources that she gained from ATS right away, she needs a lawyer to protect her against potential litigation.
Shepherd also needs a lawyer, even more badly and urgently than Mason, because he has to protect the core value of the venture, the translation engine. As his agreement with nova states, he should “communicate” all the inventions made or conceived to the company. However, from my understanding, “communicate” doesn’t mean “give”. The