You May Want to Keep Some Secrets From the Robots

Let’s talk about Large Language Models (LLMs)—you know, those remarkably helpful AI tools that can draft your emails, refine your pitch deck, (maybe even help you write a blog post…) and, in certain cases, have the unintended consequence of undermining your patent strategy.  A true multitasker.

If you’re working on a new invention or idea, you’ve probably considered pasting your idea into an AI tool to “see what it thinks.” Maybe you wanted help sharpening the concept, drafting a description, or stress-testing your thinking. If nothing else, your friendly AI bot is bound to tell you what a great idea you’ve got so that you’ll like it even more!

Generative AI Developments

Earlier this month, Minneapolis hosted and Lathrop GPM sponsored the 2024 Midwest Legal Coneference on Data Privacy and Cybersecurity. The conference covered a wide range of topics including generative AI developments, emerging state privacy laws, and strategies to mitigate cybersecurity risks. The generative AI sessions were particularly popular and had attendees buzzing with excitement (and admittedly, some trepidation) throughout conference. Conversations about the quickly developing tool spilled out into the hallways during session breaks and continued well into the evening—lawyers are an exciting bunch, aren’t they…

Keep that Bot out of your Boardroom

I regularly attend the Board meetings of the entrepreneurial companies I work with. I find it is a good way for me, as outside counsel, to stay abreast of the business’s strategies, key challenges, and opportunities. I also frequently serve as “Meeting Secretary,” keeping the minutes of the meeting.

At the risk of sounding too lawyerly, recording accurate minutes of Board meetings is one important part of maintaining good governance for your entity. This can be important for a variety of reasons, including holding officers and directors accountable for their actions and helping to prevent fraud and mismanagement, as well as mitigating risks of certain types of litigation, including corporate veil piercing.