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I am the founder and CEO of Traklight, the only self-guided software platform that creates your custom intellectual property (IP) strategy. I have dedicated my more-than-25-year career to helping businesses achieve and protect their success, specializing in leading companies in transition or start-up phases and helping them create sustainable, operational, and financial growth. I want entrepreneurs and businesses to have Fortune 500 style software solutions! I have a Bachelor of Commerce degree from McGill and a Juris Doctorate from Arizona State as well as my US and Canadian accounting and public accountant certifications. I am an international writer, speaker, and mentor, and co-chair the Arizona Technology Council’s Law and Technology committee. I previously represented entrepreneurs on the Board of the Crowdfunding Investment Regulatory Advocates and currently am on the Emerging Enterprise Committee of the Licensing Executives Society.

Contact Mary Juetten


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Advisory Board Members Talk IP And Investing In Early-Stage Companies

We are very fortunate to have some amazing advisors on our board who, in addition to having deep intellectual property (IP) backgrounds, are dedicated to helping entrepreneurs and investing. I chatted with Nnamdi Okike of 645 Ventures and Barbara Clarke of Astia Angels, both Traklight Advisory Board members, about their portfolio investments and intellectual property (IP) strategy.

Nnamdi and Barbara are both based on the East Coast, in New York City and Boston respectively. Both share my passion for IP and particularly for early stage companies. Nnamdi typically works with Internet and software companies, both business to business and also business to consumer. Barbara also works with very early stage tech, tech-enabled companies.

Barbara Clarke and Nnamdi Okiki

Barbara shared how her background influences her investment:

As an economist, I am drawn to companies in big data, or companies solving market inefficiencies (or both). I also look for companies solving problems in education. I am geographic agnostic, so I have companies in my portfolio from across the US and hopefully I’ll be adding in some non-US companies soon. Pretty much all of my portfolio companies operate on a national and international level. Many of them have teams in different geographies, too, which I really like as well.”

I asked Nnamdi and Barbara to answer a few questions about IP to uncover their experience.

Mary Juetten: Where are the companies you work with in terms of an IP strategy?

Nnamdi Okike: Companies are typically in the process of formalizing their IP ownership and IP strategy, but generally have not fully thought through how to effectively protect their IP assets and ensure that competitors cannot replicate their IP. For example, a company may desire to patent a software application, but may not know exactly what the patent should cover, how broad the patent should be, what the prior art is, and how best to draft a patent application.

Barbara Clarke: First off, most early stage companies have a very narrow view of what IP is so they don’t really have a full strategy. They all think that IP is just patents, copyrights, and trademarks. I have a broader view of IP. I like to think of IP as anything I cannot touch that gives your company a competitive advantage and will ultimately create premium profits. Ultimately, it is the ability to execute on the overall strategy, including the IP strategy, that will make a company successful.

Juetten: In your professional opinion, would you like to see them with more of an IP strategy? Why or why not?

Okike: Yes, I would generally like to see companies be proactive in terms of determining an IP strategy early in their lifecycle. This would ensure they document their IP early on, as well as do simple things such as registering relevant domain names and trademarking their unique company brands. This would prevent future IP surprises.

Clarke: I would like companies to think broadly about what they can create that is a barrier to entry for the competition, and most of that is IP. Do you really have a barrier to keep the competition out? Are there substitute products, and how does the company compete? Having patents, trademarks, and copyrights are only helpful if you have the resources to enforce them. It is naïve of companies to think that IP protection is the whole strategy. Creating an inventory and protecting your IP is just the start.

Juetten: As an investor, what do you look for in a company in terms of an IP strategy?

Okike: As a software investor, I like to see companies with proprietary, defensive software products. I always like to see companies with a good understanding of the competition and how their products stack up. Often times a company may not have a product that is patentable, however it is always a positive to see companies that have proactively researched the competitive landscape to determine whether patenting their software is possible.

Clarke: In my previous career doing IP valuations for large multinationals, I focused on two key elements; and that is true today. First, I always spent time establishing which legal entities bore the risk of the IP development. The entities that bore the risk would then benefit from the reward. So, now I make sure that the development risk is controlled by the startups. That means that company needs to have all the proper contracts in place for employees and contractors. We are increasingly in a freelance economy and companies shouldn’t assume that they have an automatic right to something. It is so important to read contracts thoroughly. You would be surprised how many people don’t.

Second, when I look at a company’s IP I want to know which piece of their IP generates premium profit. I also want to know why it generates, or will generate, that profit. I am not a big fan of “first mover advantage.” Is anyone anymore? So, what does your company do that is going to keep the competition away or make the customers pay you more money? You may have a really cool piece of technology, but if customers don’t value it at a premium it’s going to be hard to be successful. Really understanding the defensibility of the IP from an economic position is key to evaluating a company.

Juetten: Any IP horror stories to share, i.e. instances when a company should have had a better IP strategy in place but didn’t?

Barbara had a story that was not so much about strategy, but rather about internal IP security and control:

Recently I was talking with a company that had some innovative technology and a great market opportunity. They brought in an experienced team who commercialized the IP and they had substantial commitments for funding. However, the IP developer and owner never assigned the rights over to the company. The team never thought much of it because he was viewed as part of the company. Long story short, there was some sort of disagreement, he left, and took his IP with him. The company is basically dead.”

Intangible assets make up over eighty percent of the value of a startup when they are seeking funding. As such, understanding your IP and its ownership is critical when you are raising money from savvy investors.

Mary Juetten, founder and CEO, created Traklight.com while earning her JD, and leveraged 25+ years of experience to launch the software. 

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