my-kart IP rights and member contributions

i was thinking about all these IP stuff for my-kart... people like Luen (event operations, ironman rules), Mark (k2 management) and Naza (k1 rules etc) have all contributed some parts to the my-kart IP (processes, rules etc).

there may be others who have done somethings similar.

given that the IP are owned by my-kart promotions sdn bhd, i was thinking of coming up with a scheme for my-kart members to come up with great ideas for my-kart (to be owned by my-kart) and in return offer them some equity in the company. of course, an equity stake in my-kart promotions sdn bhd may not be attractive today... but i think members could be incentivised to create value out of this.

what do you think?

TheFazz's picture

azlan posted the following... (edited relevant portions)

saa73 wrote:
it's certainly a good idea - to offer equity for those who have contributed to my-KART's development, because the IP rights should be held by the company.

We should consider the following:
- Offering equity to those who have contributed and interested to contribute to my-KART, but not necessarily members of the club today.
- Offering equity to current committtee members of my-KART Selangor - not all, but active contributors only.
- Offering equity to other active contributors, not necessarily committee members - we need to identify these.

I don't know how to go about it, but offering equity to me means they have to put in some commitment too...eg some $$$, not much, but enough to show commitment.

TheFazz's picture

we may need to think if this should be subscribed in cash or in kind. instead of cash injection, the company pays a fee to these IP contributors and contra against shares issued.

we need a table of services and rates perhaps. any thoughts on what services and how to measure the fair rates?

we also need to have a framework / mechanism to -

1/ list what constitutes "value" contributions
2/ moderate the "value" (market price based) of these contributions
3/ capture members' contributions in a transparent manner (preferably
online - need programmers... televas as technical partner perhaps?)
4/ reward members with shares in mykart promotions sdn bhd (say at
discount to fair price)

luen's picture

Pardon me, IP is?

Not internet protocol right? Embarrassed

luen's picture

Yeah I got it , Intellectual Proporties. Sorry Embarrassed