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Tables of Contents for Inventor's Guide to Law, Business & Taxes
Chapter/Section Title
Page #
Page Count
Why Inventors Need to Know About Law, Business and Taxes
Business, Tax or Law?
2
1
What's Not in This Book
3
Choosing the Legal Form for Your Inventing Business
Your Business Entity Choices
2
2
Expense and Complexity
4
3
Tax Treatment
7
5
Liability Concerns
12
6
Recommended Business Forms
18
Setting Up Shop
Choosing a Name for Your Business
3
3
Working at Home
6
6
Leasing a Workplace
12
2
Business Licenses and Permits
14
2
Federal Employer Identification Number
16
1
Insurance
17
Bookkeeping and Accounting
Simple Bookkeeping for Inventors
2
10
Length of Time for Keeping Records and Logs
12
1
Accounting Methods and Tax Years
13
1
Creating Financial Statements
14
1
Other Inventing Business Records
14
Tax Basics
Inventors Who Earn Profits
2
4
Inventors Who Incur Losses
6
1
Inventors Who Hire Employees
7
1
How To Handle Your Taxes
7
3
IRS Audits
10
How to Prove to the IRS You're in Business
Qualifying as a Business
2
2
Passing the 3-of-5 Profit Test
4
1
Passing the Behavior Test
5
Inventor Tax Deductions
Tax Deductions: The Basics
2
6
Tax Deduction Road Map
8
2
Inventing Expenses You May Currently Deduct
10
17
Inventing Expenses You Must Deduct Over Time
27
6
Special Deduction Rules
33
Taxation of Inventing Income
Capital Gains vs. Ordinary Income
2
1
Capital Gains Treatment for Patents Under IRC § 1235
3
3
Paying Self-Employment Taxes
6
4
Paying Estimated Taxes
10
Your Inventor's Notebook
Why Keep an Inventor's Notebook
2
3
How to Keep Your Notebook
5
2
Witnessing Your Notebook
7
1
Alternatives to the Inventor's Notebook
8
Hiring Employees and Independent Contractors
Part I: Determining Workers' Legal Status
3
1
ICs Are Business Owners, Employees Are Not
3
2
Pros and Cons of Hiring Employees or ICs
5
4
Part II. Hiring Employees
7
2
Drafting an Employment Agreement
9
13
Tax Concerns When Hiring Employees
22
4
Part III. Hiring Independent Contractors
26
1
Drafting an Independent Contractor Agreement
26
11
Tax Reporting for Independent Contractors
37
Who Owns Your Invention?
Patent Ownership
2
1
Are You an Inventor?
3
1
Are You a Solo Inventor?
4
1
Are You a Joint Inventor?
5
8
Are You an Employee/Contractor Inventor?
13
13
Have You Transferred Your Ownership?
26
3
Trade Secret Ownership
29
Introduction to Intellectual Property
What Is Intellectual Property and Why Is It Important to Inventors?
2
6
Doing the Work of Obtaining IP Protection
8
Ten Things Inventors Should Know About Trade Secrets
All Inventions Begin As Trade Secrets
2
1
Any Valuable Information Can Be a Trade Secret
2
1
Trade Secrets Are the Do-It-Yourself Intellectual Property
3
1
You Can Make Money From Trade Secrets
3
1
Trade Secret Protection Is Weak
4
1
Trade Secret Laws Don't Protect Against Independent Discovery or Reverse Engineering
5
1
Trade Secret Protection Has No Definite Term
6
1
You Must Choose Between Trade Secret and Patent Protection
6
3
You Must Keep Your Trade Secrets Secret
9
2
When In Doubt, Use a Nondisclosure Agreement
11
Fifteen Things Inventors Should Know About Patents
Patents Are the Most Powerful IP Protection
2
1
A Patent---By Itself---Won't Make You Rich
2
1
You Can Profit From Your Invention Without a Patent
3
1
Patents Don't Work Well for Inventions With Short Commercial Lives
4
1
Patents Are Expensive and Difficult to Obtain
5
2
Most Inventions Are Not Patentable
7
2
Do a Patent Search Before Anything Else
9
1
You Must Document Your Inventing Activities
10
1
You'll Lose Your Right to Patent If You Violate the One-Year Rule
10
1
Filing a Provisional Patent Application Can Save You Money
11
1
Patents Last 17--18 Years
12
1
Enforcing a Patent Can Be Difficult and Expensive
13
1
U.S. Patents Only Work in the United States
13
1
Filing for Patents Helps Show You're in Business
13
1
Design Patents Can Protect the Way Your Invention Looks
14
Ten Things Inventors Should Know About Trademarks
Trademarks Can Earn Billions
2
1
Trademarks Identify Products and Services
2
1
You Must Have Trade to Have a Trademark
3
1
You Don't Need a Trademark to License Your Invention (But It Can Help)
3
1
Trademarks Are Not All Created Equal
4
1
Registering a Trademark Is Not Mandatory, But Provides Important Benefits
4
1
Intent to Use Registration Can Protect Your Mark Before You Use It in Trade
5
1
Do a Trademark Search Before Selecting Your Mark
5
1
Trademark Rights Are Limited
6
1
Only Federally Registered Marks Can Use the ® Symbol
7
Ten Things Inventors Should Know About Copyright
Copyright Protects Works of Authorship, Not Inventions
2
1
Copyright Can Protect Invention Design
3
2
You Can Make Money From Copyrights
5
1
Copyright Protection Is Limited
5
1
You Get A Copyright Whether or Not You Want It
6
1
Copyright Protection Lasts a Long Time
6
1
Register Valuable Copyrights
6
1
Use a Copyright Notice When You Publish Valuable Works
7
1
Copyright Isn't the Only Law That Protects Designs
8
1
Watch Out If You Hire an Independent Contractor to Create a Copyrighted Work
8
Ten Things Every Inventor Should Know About Licensing
No License Is Better Than a Bad License
4
1
You're Licensing Your Rights, Not Your Invention
4
1
Sublicensing and Assignments Allow Strangers to Sell Your Invention
5
1
You Can License Away the World and Get It Back
6
1
A Short Term Is Usually Better Than a Longer Term
7
1
Royalties Come in All Shapes and Sizes
8
2
Sometimes a Lump Sum Payment Is Better Than a Royalty
10
2
GMARs Guarantee Annual Payments
12
1
Deductions Can Make Your Royalties Disappear
13
2
Audit Provisions Permit You to Check the Books
15
Help Beyond the Book
Patent Websites
2
3
Finding and Using a Lawyer
5
3
Help From Other Experts
8
1
Doing Your Own Legal Research
9
2
Online Small Business Resources
11
2
State Offices Providing Small Business Help
13
Appendix A How to Use the CD-ROM
A. Installing the Form Files Onto Your Computer
2
1
B. Using the Word Processing Files to Create Documents
3
2
C. Using PDF Forms
5
2
D. Files Included on the Forms CD
7
Index