Why Media Startups Need a Guide to Navigating the Law

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by: Jan Schaffer | PBS

When I launched J-Lab in 2002, the best piece of advice I received was to have a lawyer draft a Memorandum of Understanding outlining the relationship between my center and its soon-to-be home, the University of Maryland.

 

The agreement detailed how I would support my startup, who owned the intellectual property, how much the university would charge for administering my incoming grants — and how I might spin the center into its own 50s(c)3 or affiliate with another fiscal agent in the future.

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