Sweet Decadence!

First off I know that this I created this blog for business purposes but can I tell you how amazing these little chocolate fudge cakes are. If you click on the link you will find the recipe.   http://find.myrecipes.com/recipes/recipefinder.dyn?action=displayRecipe&recipe_id=10000001860091

It is so good, and there are only 260 calories. 

Anyway back to reality.  I am in the middle of developing a mobile application. Right now I have the features that I would like on the application.  Now I have to find a developer.  My brother said that his friend could help out, however, I am a little scared with this ability to develop such a complex application.  The process of writing code can be researched, but the time it takes for a person like me with no experience in that field is a waist.  I would rather pay someone else to do the copying and pasting for me.  I am currently emailing many developers from the android market and the apple market, but these guys want $100's + per hour.  I am a college student and can't afford that!! Are the nuts!  I don't know if anyone reads these blogs but if you do please comment and let me know what your thoughts are.  I need your help!

Mobile Application

So last semester my team and I started working on a project for school.  Specifically, our entrepreneur class, and developed a product.  We had the opportunity to pitch our product to a board of investors at the end of the semester.  The program also allowed us to research our market extensively and put together a business plan.  As our group pitched to the board we had lots of feedback from investors such as this would be a great application rather than a product. 

We did not get funded last year, but this semester in the launch class our team decided to take the product and redevelop it into a mobile application.  We have been working day and night on this project and can't seem to get it off the ground.  The mobile application world is so new, and as students we are treading on unfamiliar turf.  None of us are familiar with writing "codes" for software, and we are having a hard time understanding the development of this application.  I know there are many websites to go to for information on this topic, but seeing that our semester is over in another 2 months I think a application developer is much needed.  If anyone knows anyone, or can help us out in this manner I would love you forever.  We are pitching our mobile application in May to a board of investors.  Hopefully it will be the same ones from last year so they can see the mass improvement, and the advice what we took away from them.  We shall see!!!!

ckampa01m@yahoo.com
ckampa01m@csu.fullerton.edu
 

Start Up Companies

I am reading a book by Guy Kawasaki called "The Art of The Start."  It is an excellent source to referred to if you are a start up or plan to start a venture.  I have been eager to get through the book but as I'm reading I'm performing the tasks that he asks us to do.  For instance, in the first chapter he explains how every venture must start with a creative idea. duh!!!!  Then he explains the MAT which is milestones, assumptions, and tasks that you must perform to be successful in your business as a start up. 

To do this just open up an excel spreadsheet and label the first column milestones, 2nd column assumptions, 3rd task, and 4th date that you plan to complete that task.  Then list your milestones:
Example:
Milestones
Prove your Concept
Complete Design Specifications
Finish a prototype
Raise Capital
Ship a Testable Version to Customers
Ship a Final Version to Customers
Achieve Break Even

Now in the next column list your assumptions that you have for your milestones, and then list the task that you have to accomplish to complete that milestone, followed by an estimated date that you think you will finish that milestone.  This is a list that you must follow until your start up is complete.  Anything that gets in your way may cause the whole project to fail so be very very careful when your putting this together. 

I will tell you my experience as soon as I get through it.  All this is new to me as well so if your a new entrepreneur as I am then we can do this together.  If not then you can learn from my mistakes or anyone else who may want to share with you as well on this post or anywhere on the web. 
Good Luck,
Christine Kampa

LLC Requirements

If you are looking to do business as a limited liability corporation LLC there are a few things I just learned that you need to do for a California LLC

1.  You need to file form LLC-1 along with a $70 filling fee. 
2.  Within 90 days you need to file form LLC-12 along with a $10 fee.  If you want to obtain an LLC outside of California for asset protection there is a seperate form you have to fill out.
3.  Right after you file the LLC-12 form you need to draft an operating agreement that will difine the rights of the owners, the powers that are delegated, and the duties of members and managers.  There is a list of tax information that you need to look over at www.irs.gov

Taxes on an LLC
1.  $800 annual fee with the franchise tax board
2.  additional fee based on all sources of income. 
If you gross less than $250,000 then you are exempt from this fee
If you gross more than $250,000 then you can pay fines up to $4,500 annually. 

These are just a few things I learned today.  I am trying to obtain an LLC for my business that I have not yet released to the public due to protection and patents that have not been filed.  If anyone can give me more information on obtaining an LLC in California without having to pay ridiculous fees please let me know.  I have tried legalzoom.com but may need to research a little more on that site.  I've heard really good things about it though. 

PE.com - Daily News Digest: To AP Archives

This is a crazy story about a girl who was ran over by a train. This is right down the street from me and its scary to think that things like this can happen to anyone. I hope her loved ones are holding up okay, and if there is anything I can do please let me know at ckampa01m@yahoo.com. I would be happy to help. I drove by and saw the poster of her picture as well as flowers that were placed all around the tracks. I literally drive by there everyday!!!!
PE.com - Daily News Digest: To AP Archives

Patents for small business

I was in class tongiht with a speaker named Criag.  If you need informaiton about intellecual property here is some stuff I took away from him tonight.

Speaker Craig

Intellectual property

·         Intangible: patent, service marks, trade secrets, trade  marks

·         IP portfolio $5 trillion in the U.S… more than the GDP

·         One reason to have IP is for incentive to create more in the future

Patents

·         Useful, new and non-obvious invention

·         Founded in U.S  constitution article 1 section 8

·         Philosophy-incentive to invent rewarded 20 year patent term once it’s issued ($10,000) to draft a patent.  Where can you enforce a patent? Once you decide to get it!

·         Types:  utility-products, compositions, methods (20yrs) Design- non functional ornamental plant- invented or discovered, asexually reproduced plant varieties. (14yrs)

·         Enforceability of patent rights: in U.S federal courts, injunctive relief and damages may be sought, and damages can be actual loss or a reasonable royalty. 

·         Patent atrol: the little guy who doesn’t make it.

Trademarks

·         Protects words, names, symbols, sounds, or colors that distinguish goods and services.  These can be renewed forever as long as it’s being used. Logos, brand names, the roar of the MGM lion, the pink of the insulation made by Owens-corning, and the shape of a coke bottle (trade dress)

·         Protection: passing off and enforced in federal or in state court with injunctive relief and damages

·         Registration gives you nationwide coverage

Copyrights

·         Protects authorship fixed tangible media writings, maps, music, film, artwork

Trade secrets

·         Protects valuable confidential information for an unlimited time, e.g. coke formula

·         Spawns confidentiality agreements with employers

·         Violation is a misappropriation of confidential info.

Smartpropertylaw.com

$5000 is the cheapest patent…