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?
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Submitted by TheFazz on Sat, 09/02/2008 - 12:27pm.

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TheFazz:

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.

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http://www.thefazz.com/me

9 Feb 2008 - 12:31pm

TheFazz:

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)

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http://www.thefazz.com/me

9 Feb 2008 - 12:35pm

luen:

Pardon me, IP is?

Not internet protocol right? Embarassed

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neat, balance and practical

11 Feb 2008 - 2:09pm

luen:

Yeah I got it , Intellectual Proporties. Sorry Embarassed

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neat, balance and practical

11 Feb 2008 - 2:12pm