Legal for Startups, a 20Fathoms Breakfast Lab

The legal basics matter. Understanding your business’s legal structure and obligations isn’t just paperwork — it directly impacts liability, taxes, ownership, fundraising, and long-term success.

At this session of Breakfast Lab, facilitated by 20Fathoms Entrepreneur in Residence Peter Scott, you’ll dive into the basics of legal and IP.

There are practical, affordable steps you can take now. You don’t have to be a legal expert or spend a fortune to set up your startup on solid legal and IP footing, but you do need to know when to seek help.

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• Business Structures & Legal Entities: Understand the pros, cons, and key differences between sole proprietorships, partnerships, corporations (C- and S-Corp), LLCs, and LLPs.
  

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• Intellectual Property (IP) Essentials: Learn how to identify and protect your company’s most valuable intangible assets. We’ll break down patents, trademarks, copyrights, and trade secrets, including how they work, what they cost, and when they matter.
  

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• IP Strategy & Licensing: Explore practical strategies for leveraging IP through licensing agreements, managing confidentiality, and safeguarding competitive advantage.
  

You’ll walk away with clarity on how to protect your ideas, set up your company structure, and avoid common legal pitfalls.

Breakfast Lab is a weekly event at 20Fathoms where you’ll get expert guidance to help meet your most pressing startup needs, providing access to the right tools and the right people at the right time.

These events are held in person and there is no cost to attend. Coffee and a light breakfast are provided. Walk-ins are welcome.

There are two parts to each Breakfast Lab:

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• Startup Workshop: 9 – 10:30 am
  

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• Startup Coaching: 10:30 am – noon
  

Attend both parts, or just one.

Learn more about Breakfast Lab.

Breakfast Lab was designed specifically to support:

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• Idea and early-stage startup founders with scalable innovations and technologies
  

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• Entrepreneurs navigating strategic growth or a pivot in their business model
  

You are encouraged to have your business model canvas outlined to benefit from the Breakfast Lab workshops.

Don’t have a canvas yet? No sweat – join a Startup Bootcamp to get started or Download the instructions and a blank canvas to work through on your own time.

Peter Scott serves as Entrepreneur in Residence at 20Fathoms. In this role he is excited to connect with local founders and help them start companies, with a special focus of supporting those working in the local bluetech economy.

Peter is a serial entrepreneur and the co-founder of Power 3D, Grasp Robotics and CellDrop Biosciences. He brings over 20 years of experience in industry and academia helping inventors commercialize their technology. His previous experience includes advising 25+ technology startups in strategy, marketing/sales, and finance, securing commitments of $14 million in investment. His experience spans markets including solar, wind turbines, fuel injection, engine controls, consumer products, and medical devices.

Additionally, Peter is an international lecturer on innovation and entrepreneurship and has taught in 10 countries. He also previously served as the Entrepreneur in Residence at the University of Wyoming.

Peter holds a BS in Mechanical Engineering and Aerospace Engineering from the University of Michigan, an MS in Aerospace Engineering from the University of Cincinnati and an MBA from the University of Michigan.

Based in Traverse City, 20Fathoms is a nonprofit organization and the hub for entrepreneurship and innovation in Northwest Michigan. The 20Fathoms team works with entrepreneurs of all stages and industries, and also offers specialized services to meet the unique needs of technology-focused startups. Programs include startup education, business coaching, TCNewTech pitch competitions, access to capital, a vibrant coworking space, and general resources and support. For more information visit: https://20fathoms.org/

Host or Publisher 20Fathoms