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In the past, reverse mergers were associated with penny stocks, manipulation, and potential for abuse. Today they are viewed as a legitimate vehicle for going public. The author explains the steps involved in doing a reverse merger and offers tips for expediting filing and approval of documents with the SEC.
A growing economy constantly creates new job opportunities in new sectors, but also displaces and even destroys existing jobs. The workforce in an entrepreneurial economy must always evolve as well. Government efforts to protect jobs are often misguided, hindering growth and new job creation. Pro-growth workforce rules should instead focus on developing worker skills, allowing maximum hiring and layoff flexibility, and focus adjustment efforts on getting displaced workers into new jobs as soon as possible. Small firms employ half of all private sector employees and create 60-80 percent of net new jobs in the U.S., according to the SBA. Labor rules are one of the largest barriers to entrepreneurial ventures. The World Bank’s cross-country comparison of labor regulations shows lower job creation where workplace rules are more rigid. Labor rules must move beyond the early 20th century framework of management versus labor and encourage new firm formation as well as a dynamic, not static, worker.
The creation of new ideas being essential to a growing economy, the U.S. government has continuously reformed rights of Intellectual property (IP) to maintain the most entrepreneurial climate possible. Recognized in the Constitution itself, patents for new inventions and copyrights for new artistic creations provide an incentive for people to both create and publicize their intellectual property. However, rules, protections, and the adjudication process surrounding IP requires constant reforms to keep up with challenges of the digital revolution. Piracy has become much easier, while at the same time patent laws in the U.S. are increasingly cumbersome. In many cases, innovation is being hindered by overly broad and specious court and agency decrees. This brief is on U.S. patents; copyrights will be treated elsewhere.
The crown jewel of the U.S. university system – the finest in the world – is the research university, where knowledge creation is the ultimate goal. Recognition of the centrality of knowledge creation to economic growth makes the efficiency of university innovation a top concern to policymakers, especially since the federal government funds two-thirds of the $48 billion of R&D performed in academic institutions. In too many universities, commercialization of research discoveries is not as rapid or as successful as it could be. The solution provided by Technology Transfer Offices (TTO) has been mixed, as too many have been directed to focus on maximizing revenue through patent licensing, leading to a sub-optimal level of technology diffusion. In the face of declining funding of basic science research, venture capital migration to downstream opportunities, and heightened competition from abroad, the optimal commercialization of U.S. university innovations could not be more important.
Developing the human capital of young Americans is vital to keep America’s entrepreneurial economy growing. Our future entrepreneurs and their workers need the twenty-first century skills and knowledge to create successful ventures and to spur innovation in the economy. Yet education in the U.S. is struggling to stay competitive and fails to provide access to a quality educational experience for all students. Developing tomorrow’s talented, capable innovators is a challenge that will require major, entrepreneurially-driven improvements in education from pre-school through graduate school.
Data sharing can bring down healthcare costs, says a new Kauffman Foundation report. Read about open access to medical data.
Proposed federal budget cuts could hurt healthcare innovation in America and be bad for patients. Read more to find out why giving Medicare the power to negotiate drug prices is a bad idea.
Steve Perricone is President, CEO, and Co-founder of BioFuelBox Corporation. And he has over 20 years experience in the technology industry, with over half of those years in start-up environments. Perricone was Vice
President of Worldwide Sales for SonicWALL, which he joined when it had less than 20 employees. Perricone was instrumental in the growth of the company, and expanded it to over 450 employees worldwide. He was directly responsible for
building the worldwide channel for SonicWALL?s security products from the product line?s inception in 1998. That successful channel and sales organization contributed to near immediate company profitability and aggregate revenues of over
$200 million in the first three years. Prior to SonicWALL, Perricone was a senior executive in two other technology start-ups - Network TeleSystems (acquired by Siemens) and Structured Internetworks. He is an alumnus of California State
Gil Penchina recently agreed to become CEO of Wikia, a start-up founded by Jimmy Wales, the creator of Wikipedia. Wikia is a community site built on open-source software that allows anyone to contribute to guides on
subjects as diverse as star trek, pet diabetes and travel guides. Wikia operates under the GFDL Free content license and is positioned to become the first sustainable business built around the vision of free content. Prior to Wikia, Mr.
Penchina was an 8-year veteran of eBay. Mr. Penchina worked in Europe, directing eBay's presence in Southern Europe, and oversaw the company's expansion efforts in Eastern Europe. Previously he was responsible for launching sites in Hong
Kong and Singapore, and for the company's entry into India. Mr. Penchina also played a role in eBay's entry into South Korea and China. Mr. Penchina came to eBay in 1998, first working in business development and then running the mergers
and acquisitions department. In 2001 he was named vice president of business development where he built business and marketing relationships for eBay with a number of the top brands in the U.S.A including Microsoft, AOL, Disney and Yahoo.
Mr. Penchina began his career at General Electric in 1991, first in manufacturing and later in marketing on GE's corporate staff. He has worked as a management consultant at Bain & Co and an Internet entrepreneur, creating a content,
commerce and community vertical for business travelers. An active angel investor, he has investments or advisory roles with many internet startups including: Linkedin, Flock, Wink, Vamoose, Become, Feedster, Koders, Voicestar, Reify and
Betzip. A native of Amherst, Massachusetts, he holds a B.S. in Industrial Engineering from the University of Massachusetts and an M.B.A. from the Kellogg Graduate School of Business. Courtesy of Wikia
Job seekers need to be competent in three areas in order to compete in the global work market. These are Communication- the ability to learn and unde
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