Fund: Meritage Funds
Posted by Anonymous on 2008-07-15
A lesson learned in the process with Meritage is that you may be required to provide a "Freedom to Operate" opinion on your IP. If I knew what this was and had done it before with my two prior deals, it wouldn't have been an issue. However we clearly didn't know what would be expected and it took 3 trial runs and $45k of our attorney time to finally get to what they were looking for.
The positive is that I know without a shadow of a doubt that our IP is 100% defensable in the market. I also know how to architect around my competitors as we develop competing products in the future. I am really glad we went through the exercise. We've jointly agreed that they need to do a better job of communicating this requirement in detail to the entrepreneurs.PRIVATE: Members Only