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Dan Green on Key issues on IP: Everyone must sign a PIAA

February 26, 2018
Dan Green, Partner, Gunderson Dettmer, LAVCA, Venture Investors

Dan Green, Partner, Gunderson Dettmer discusses Key issues on Intellectual Property during the LAVCA VC in the Bay Meeting in 2017.

Gunderson Dettmer works with US and international VCs investing in high growth technology companies, and with the companies themselves as they grow.

This content is made possible with support from Omidyar Network and Telefonica Open Future_.

Telefonica Omidyar

TRANSCRIPT

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  • Portuguese

Dan Green: You have to make sure IP is protected from day one. In the US, it’s common for every person who works for a company to sign what’s called a PIAA, a Proprietary Information and Assignment Agreement, that is basically a Cesión de Derechos de Propiedad Intelectual. You as a service provider, deliver ownership of the IP creation that you’re working on to the company.

It’s a pretty standardized document. But I still see companies in other markets in Latin America where they’ll put those agreements in place for the founders, and they’ll have it for the VP of engineering or maybe the developers, but they don’t have for the marketing person. Or they don’t have it for the outside consultant who came in and re-wrote an important piece of code, because they were autonomo, they were a consultant.

The fact of the matter is, US and international investors and buyers expect every single person to have signed that agreement. And it’s very painful later on to have the agreements signed.

Dan Green: Debe asegurarse de que la IP esté protegida desde el primer día. En los EE. UU., es común que cada persona que trabaja para una empresa firme lo que se denomina PIAA, Proprietary Information and Assignment Agreement, que básicamente es un acuerdo de Cesión de Derechos de Propiedad Intelectual. Los empleados, como proveedores de servicios, entregan a la empresa la propiedad de la creación de IP en la cual están trabajando.

Es un documento bastante estandarizado. Pero todavía veo compañías en otros mercados en Latinoamérica donde pondrán esos acuerdos en vigencia para los fundadores, y lo tendrán para el vicepresidente de ingeniería o tal vez los desarrolladores, pero no para la persona de marketing. O no lo tienen para el consultor externo que entró y reescribió una pieza importante de código, porque era autónomo, era un consultor.

El hecho es que los inversores y compradores estadounidenses e internacionales esperan que cada persona haya firmado ese acuerdo. Y es muy doloroso lograr que se firmen más adelante.

Dan Green: Você precisa garantir que o IP esteja protegido desde o primeiro dia. Nos EUA, é comum que todas as pessoas que trabalham para uma empresa assinem o que é chamado de PIAA, a Proprietary Information and Assignment Agreement,, que é basicamente uma Cessão de Direitos de Propriedade Intelectual. O empregado, como um provedor de serviços, entrega à empresa a propriedade da criação de IP na qual está trabalhando.

É um documento bastante padronizado. Mas eu ainda vejo empresas em outros mercados da América Latina, onde eles colocam esses acordos em vigor para os fundadores, e tal vez para o vice-presidente de engenharia ou talvez os desenvolvedores, mas eles não têm para a pessoa de marketing . Ou eles não têm para o consultor externo que entrou e reescreveu um parte importante de código, porque ele era autônomo, ele eram um consultor.

O fato é que os investidores e os compradores dos EUA e internacionais esperam que cada pessoa tenha assinado esse acordo. E é muito doloroso depois que os acordos sejam assinados.

Dan Green on Key issues on IP: Everyone must sign a PIAA was last modified: February 26th, 2018 by Editor
Dan GreenGunderson DettmerIPlegalVCVenture
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Methodology

LAVCA’s fourth annual list of Emerging Women Investors in Latin American Tech includes 135 junior- and mid-level investment professionals from Latin America-based firms, as well as from global firms with Latin America-dedicated investment teams.

Every year since 2016, LAVCA solicits nominations of top women investors in tech from the investment community. In 2018, complementing the peer nomination process, LAVCA reviewed the investment teams of all active Latin American VC funds. Our inaugural list of  Emerging Women Investors in Latin American Tech had 47 investors. The list has been constantly growing – from 87 investors featured in 2019, to 97 in 2020, and to 116 in 2021.

NOMINATE AN INVESTOR

This list is not exhaustive; if you know of a junior- or mid-level investment professional working on Latin American tech deals who should be on this list, contact [email protected]

TOP WOMEN INVESTING IN LATIN AMERICAN TECH

LAVCA’s companion list of Top Women Investors in Latin American Tech includes 140 senior-level women investment professionals who are deploying capital in early and growth stage tech deals.

About LAVCA

 

LAVCA is the Association for Private Capital Investment in Latin America, a not-for-profit membership organization dedicated to supporting the growth of private capital in Latin America and the Caribbean through research, education, networking and advocacy.

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