Friday, March 10, 2023

2023 Legal Guide to Privacy and Data Security

The 2023 Legal Guide to Privacy and Data Security is now available. This Guide is a collaborative effort between Lathrop GPM and the Minnesota Department of Employment and Economic Development (DEED). A digital version of the 2023 Legal Guide to Privacy and Data Security can be downloaded here.

The guide is written for non-lawyers and offers insight into a variety of privacy and data security-related laws, the impact of such laws on businesses, and best practices to mitigate risks.

We prepared the first version of this guide in 2014. Since then, DEED has published seven updated editions. The frequency of these updates is evidence of the ever-evolving legal landscape of data privacy and security.

New developments in 2023 include amendments to the Safeguards Rule of the Gramm Leach Bliley Act, which became effective October 27, 2022. These amendments expand the definition of financial institutions covered by the law and impose new burdensome requirements related to data security. Motor vehicle dealers and colleges are just two examples of non-banking “financial institutions” that now fit the expanded definition of so-called “finders” and are required to implement and maintain a comprehensive data security system that protects customer information.

Wednesday, March 1, 2023

Book Review: Bill Aulet: Disciplined Entrepreneurship: 24 Steps to a Successful Startup

Like many people, I have dreamed about being an entrepreneur and having my own business venture. But when I really think about the concrete steps of starting a business, it is a headache: what kind of products or services do I want to provide? How do I target my potential clients? What are the marketing channels that I should focus on? How do I do the pricing? All those question marks in my head just led to cold feet.

There are indeed a lot of entrepreneurship-related online courses available, but most are either long or focus on a particular aspect of entrepreneurship. If you are, like me, looking for entrepreneurship 101, a comprehensive preview of all kinds of questions you need to think about in different stages of an enterprise, and a roadmap of how to start your own business, Disciplined Entrepreneurship: 24 Steps to A Successful Startup, by Bill Aulet, might be just what you are looking for!

Wednesday, February 22, 2023

Will Machine Learning Make Us Less Intelligent?

If you are wondering whether I used AI to write this blog post, the answer is no. This will soon become obvious since no respectable AI program would go off on tangents as much as I do.

Having graded many undergraduate student essays, it is very disheartening to know that students can now ask a computer program to write a full essay for them on just about any topic in a matter of minutes. Will this new machine learning craze fundamentally change the next generation’s ability to do basic, fundamental research and writing?

Wednesday, February 15, 2023

ChatGPT—The Next Generation of AI?

If you have spent any time on the internet in the last few months (and who hasn’t), you’ve undoubtedly heard of Open AI’s ChatGPT, which has taken the world by storm since its release last November. Rather than try to explain ChatGPT myself, I figured I would let ChatGPT introduce itself to you all. So, I had the following conversation with ChatGPT:

Friday, February 10, 2023

It’s that time of the year again – when the Kansas City Office celebrates the Chiefs going to The Big Game!

As the Chiefs prepare to face off against the Philadelphia Eagles, it is important to note what an event like this means to the host city, the city of Glendale, Arizona. Every year, thousands of people travel to the lucky city that will hold the championship, generating millions of dollars in revenue for businesses and local governments. The game is also seen as an opportunity to showcase a city’s culture and attractions, resulting in increased tourism.

Wednesday, February 8, 2023

The Minnesota Angel Tax Credit Program – good news for startups; good investment in Minnesota.

The Minnesota startup community received good news to begin 2023 as Gov. Tim Walz proposed $20 million in funding for the Angel Tax Credit Program in his biannual budget.

The Minnesota Angel Tax Credit Program, started in 2010, provides a refundable 25% tax credit to investors and angel investment funds that make equity investments in emerging—primarily high-tech—Minnesota businesses. The tax credit, worth up to $125,000 per individual or $250,000 for taxpayers filing jointly, incentivizes a rather low risk investment in capital-needy businesses, fueling their growth, and, in turn, creating more jobs, tax revenue, and vibrant Minnesota communities.

Wednesday, January 25, 2023

United States Patent and Trademark Office Unveils New IP Identifier Tool to Assist Entrepreneurs

Last week, the United States Patent and Trademark Office (USPTO) unveiled its new Intellectual Property (IP) Identifier Tool to assist inventors, entrepreneurs, and small businesses in identifying inventions, brands, and other business assets that can be protected by intellectual property rights.

The IP Identifier Tool is a user-friendly, virtual resource specifically designed by the USPTO for those who may be less familiar with intellectual property rights—patents, trademarks, copyrights and trade secrets. The IP Identifier Tool enables users to first identify whether they have any intellectual property that can be protected, and then helps them to identify specific protections that would help them secure and further develop their business assets. The IP Identifier Tool also provides easily digestible information on intellectual property basics, including guidance to help a user navigate the application process for a patent, trademark or copyright.