General

Public defenders

Problem: Small businesses cannot defend themselves from trademark threats.

 

Solution: Public defenders for small companies that are attacked by big business.

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5 votes
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Net worth cap

Problem: The net growth cap for minority businesses is constraining.

 

Solution: Remove the net worth cap ($1.2 million) for minority owned businesses.

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1 vote
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Caps for Angels

Problem: The economic situation for angel investors is getting worse.

 

Solution: Simple changes in the tax code can help. Treat common stock differently than preferred stock. Look at different caps and provide better incentives for angel investing.

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4 votes
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Use it or lose it

Problem: A lot of intellectual property (IP) is being wasted due to "squatting".

 

Solution: Use or license IP within a few years so it can be commercialized -- "use it or lose it."

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5 votes
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Business Incubators

Problem: Entrepreneurship is a local issue. Entrepreneurial culture needs to be instilled at the local level in order to increase awareness of entrepreneurial skills and building the next generation of entrepreneurs.

 

Solution: Put business incubators in historically depressed areas that do not have access to information.

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7 votes
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401k Exception

Problem: There is a penalty for taking out money from your 401k to invest in your own venture.

 

Solution: 401ks have exceptions for certain situations (e.g. medical). Include an exception to the 401k penalty for withdrawal to invest in one's own venture.

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3 votes
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Exemptions to help with access to capital

Problem: We defer / allow forbearance for college loans and guarantee home loans but there is no similar avenue for someone to invest in their own small business.

 

Solution: Allow deferrals or tax exemptions to help with access to our own capital.

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4 votes
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Require a fee for filing a "Paragraph 4" challenge

Problem: In the world of pharmaceutical patents, it costs the patent originator money for R&D and patent application. After a patent is awarded, a generic manufacturer may challenge the patent using a "Paragraph 4" challenge, and doesn't have to pay any fee at all. There is, therefore, no cost for a generic manufacturer to challenge a legitimately awarded patent, and a big hidden cost to the originator (who has to plan ...more »

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0 votes
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Defer taxes on stock-in-lieu-of salary transactions

Problem: Early-stage startups lack cash to compensate advisors or employees. These startups frequently compensate with stock in-lieu of salary. As a C Corporation, it is difficult to avoid triggering a taxable event when compensating with stock. This is particularly problematic when the stock is an illiquid asset. Solution: Defer taxes on all stock-in-lieu-of salary transactions (whether gift or granting of options) ...more »

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11 votes
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Guidance on Contract Employee Regulations

Problem: When using a contract employee, a company never knows whether the IRS will later investigate and determine that the "contract employee" is actually a full-time employee, subjecting the company to significant tax penalties. Solution: Provide clear guidance, from the IRS, as to what is permissible under contract employee regulations. Make this guidance carry the weight of precedent, in any investigative action. ...more »

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1 vote
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Entrepreneurial Deferment Loan Program

Problem: Student loan payments prevent many would-be entrepreneurs from being able to afford the attempt to be an entrepreneur. Solution: Provide an "entrepreneurial deferment" loan program. In a deferment program, allow a recent graduate to make interest-only payments or defer all payments for some period of time, should they elect to pursue entrepreneurship. In order to continue the benefit beyond two years, the ...more »

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18 votes
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Student loan forgiveness for working in an LMI or HUBZone

Problem: It is difficult for small businesses in LMI (Low and Moderate Income) and HubZone areas to hire recent college graduates. It is difficult for the recent graduates to afford to work for these businesses, particularly given high student loan payments. Solution: Provide loan forgiveness for recent graduates who go to work for a small business in an LMI or HubZone area. Benefit: Reduces loan burden for recent ...more »

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12 votes
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