Legal Q & A for Creative Entrepreneurs - Brittany Ratelle - Live IG replay

Hello everyone. Okay, I'm grabbing my list over here. What we have— hey, so thanks everyone watching the replay. I know it's a little awkward in the first minute or two while everyone gets notified and hops on, so thanks for your patience. I'll get going in just a few minutes, but I hope everyone had a fabulous summer. So I know that's probably a little bittersweet even to recognize that. I don't know if it feels like goodbye summer where you're at. Here where I'm at, because I'm recently relocated back to my hometown in Coeur d'Alene, Idaho, it definitely feels like fall. There is a nip in the air. It rained today. My kids put leggings and hoodies on. So that was all kind of exciting. So, and so I'll just go ahead and briefly introduce myself and then we'll jump in with the questions that I got beforehand and then I'll open it up if there's anyone else who has any other questions, you're welcome to hop on. So my name is Brittany Ratelle, and I am an attorney for creative entrepreneurs, and, um, I, uh, try to do these weekly live Q&As, um, to kind of just give an open forum for people who might be creative entrepreneurs, um, small business owners, indie entrepreneurs, however you identify yourself. You're a designer, photographer, Etsy shop owner, you have an e-commerce site, you're a coach, You're, you know, you're a hustling entrepreneur and you might have some questions about your business. And as your business grows and develops from maybe a little side hustle or a little baby business to a full-grown adult and through their adolescence— really pushing that analogy— you just might have some questions about how do I make this business legit? How do I make sure that I'm doing things the right way? How do I protect my stuff? How do I make sure I'm not taking other people's stuff? How do I grow in a way that minimizes some of the problems and growing pains that can come as a business develops? So, um, that's kind of my specialty, is that niche right there of people who are transitioning from maybe a house, um, and are wanting to do it in a smart way, um, in a way that makes sense for what their business is and their industry is. So, um, and while, uh, do I help people with nonprofits? Um, I give some guidance, like I don't set up nonprofits per se, um, and those are those are like LLCs are usually at the state level. You really probably want a local attorney to help you with that, um, to help you with like your nonprofit charter, um, at your state. Um, but in terms of do I help nonprofits with some of the other things that they have going on, you know, trademarks, copyrights, contracts, absolutely. Because in that respect, they're really like any other small business. Um, so, um, tax-wise, I, I don't advise tax-wise for nonprofits because that's a much trickier area of expertise. Um, but you want to DM me if you need some recommendations for that field. I definitely have some recommendations depending on where you are. So, um, and I have to give my little disclaimer because what kind of attorney would I be if I didn't have a little asterisk disclaimer? While I'm an attorney, um, licensed in Utah and soon to be Idaho, um, I'm not your attorney unless you want me to be, in which case book one of my free consults. Let's chat about your business, and then if you decide that you want to work with me, then we can make that happen, and then I can be your official attorney. So, and that's what that looks like. So, but today we are, I had got a couple questions beforehand, so I'm gonna jump into those and then I'm gonna open it up if there's anyone else who has any other questions about their business. So, okay, so first question I got was about someone who's starting a podcast that kind of features people who are in direct sales or working for MLMs. And the question is, should this person be concerned about guests who are gonna be on the show and talking about the relationship with their companies? Can they actually mention the name of the companies that they work for? Do they need to worry about slander or defamation or libel? This is a really smart question because it's really good to be thinking about what could happen when you have people on your show, especially in a podcast format when once it's on up there, it's kind of living forever unless you, you know, try to yank it. And obviously you try to avoid that as a podcast, as a content creator. So in my My thoughts here are that, my top level thoughts is that you're probably gonna be okay, but with the asterisk that I would advise your guests to look at whatever contract they have signed with their distributor, with whatever company they're selling for. Because there may be some clause in there that speaks to how they can use maybe the marks of the company. It might talk about their trademarks or their logo. It might talk about, you know, what the agency partner relationship is. I mean, I'm sure they're probably an independent contractor, you know, they just get their 1099 like most people do when they're in direct sales. But I would want to see and have people just say, hey, why don't you just look over your agreement and see what it says, if it mentions anything about speaking about the company, about libel, slander. Sometimes you see these in language that talks about you know, um, any actions that would bring bad will or would harm the goodwill of a company. Um, sometimes you see kind of language like that, or any confidentiality clauses. Um, my hunch is that this is not going to be an issue, but you know, I, I obviously, I have not reviewed every MLM company's distributor agreement that's out there, so I can't say that there wouldn't be some weird thing in there that you just want to be aware of. Um, however, um, as you're interviewing with people That all aside, as long as you're sticking to facts and people's own opinion in working for a company, and it's likely that someone probably wouldn't be speaking about working, who they are, if they didn't have a good experience, or they would only talk about their experience. So I would probably include a disclaimer at the beginning of a show if you do get into something that you think, ah, this is gonna be controversial, or this is gonna really piss a bunch of people off. If that little red flag goes up in your mind about a particular episode, or what someone's talking about, then I would give a little disclaimer in addition to the beginning of the show that said, hey, you were going to be talking to someone today, all the opinions that we express in here are their own. We're not making any official connection or statement representative of any companies that might be mentioned today. And you could just say that. So that way, even if that company, you know, Company X had a problem with it and said like, you're not supposed to say that, you know, you could couch and say, go back and say, hey, this person was just giving their own opinion, their own experience, and it'd be very difficult for them to try to bring a lawsuit because you have to show, especially against a company like that, which is a public figure, the bar for a libel suit is very high because you have to show that a person who went after a company like that, which is a forward-facing, big public company, they're obviously out in the arena, they should be able to take it. You have to prove that the person who went after them had a reckless disregard for the truth, which is really, really hard. That means, like, in lawyer terms— I know I'm getting lawyer legal nerdy on you here— it means that, like, you see the sun and you're like, "Nope, that sun is purple." It's like, well, no, obviously it's not purple. Like, it's not like some gray area. Like, you know the truth and you completely go against it. So, and that's really hard for a public company, for you to— someone to prove that, that, like, they knew that what they were saying about Company X was true, that, you know, they slaughter lambs for their special vegan leather. I'm just coming up with this analogy on the spot. You have to show that they said that on air about some company when they knew 100% that that was false. The odds are that that's not going to happen, so you're probably going to be fine. But I think those are really smart points. I will add to that that make sure as a podcast, especially if you're a podcast that relies on guests to be on your content, make sure you have a guest release. So make sure you have a little mini contract that someone signs when they agree to be on your show. It can kind of be part of your onboarding package. That's what I do on my podcast. When someone says, yeah, I'll be on your show, I send off and I say, hey, can I get your headshot, your bio, and do you mind signing this please? And I send them a link to my online form where they can just sign their name, you know, e-forms, like do not have printing and scanning people, don't do it, okay? I'll be disappointed in you if you are printing and scanning, it's 2018, okay? And you just have a person sign it back and it basically will say something to the likes of, this is my content, you're agreeing that I can use your name and likeness to promote the episode, once we record it, it's mine, I own the copyright, I can do whatever I want with it, which is what you want on a podcast, 'cause say you wanna, someone wants to sponsor you or syndicate you or you're gonna put it together in like the best of episode or whatever, you want to have the full rights to what you're recording so that you can use it whatever way you want. So yeah, so that's what for podcasts, just a little thing to keep in mind. Okay, I'm sorry, that was kind of a long explanation. But next question that someone had was they are in a business of creating different kinds of party supplies for clients, kind of quasi-custom party supplies, and their question is, should they have something that they copyright? Of the things that they're doing because, you know, it changes quite a bit. Um, and this, you know, like most things with copyright, kind of comes down to a cost-benefit analysis. So you kind of have to decide, is this thing worth, um, having the cost of a copyright? Which I will say that if you have like a bunch of things that all go together, say for a party kit, you have cupcake toppers and invitations and signage and, you know, water bottle wrappers, um, so these are all go together in a bundle for like a mermaid party, then you could, um, you could probably do all those together as a package, as a collection, and copyright it. It would be $50. So if you're LLC, it's like $35 if you're an individual. So not that bad, um, in terms of protecting your design. So now if you have tons of these, um, then maybe it's not worth it to you. But if it's something that's your, um— and the big caveat here is that to be able to be eligible for copyright protection to register with the Copyright Office, it needs to be original, um, an original work of authorship, and it has to be distinct enough. It needs to have enough of an original creative element that you can show that it's worth of copyright. So, um, for example, like hand-lettered text, as beautiful as it is, you can't copyright that because it's— at the end of the day, it's just text, it's just letters, and we can't copyright letters or basic symbols or numbers because we all need those to work in our business. They're just not of an artsy thing enough, they're not original enough to get protection. So even like really simple logos can't get copyright protection. Like you can't have like a word inside of a triangle. You're not going to be able to do that because that's just a basic. You can't say I am the only one who can use a word inside of a triangle and no one else can use that kind of a logo because it's not distinct enough. So that's with the copyright. So, but definitely if you decide not to register it, still I would still put your notice on everything. I would still put your C, circle, all rights reserved, and the name of you or your company. If you have an LLC, you put the LLC name. If not, then you put your name on there and the date it was published or released. And I would also include some sort of terms when people buy whatever package it is, what kind of a license you're granting to them, because it's likely that that's what you're doing. You're— which is, it's a non-exclusive license. They're not the only one who can buy this thing, probably. And what they can do with it. Is it supposed to be for personal use, meaning it's just for their party that they're throwing? Can they distribute it? Can they share it? Can they turn around and put it up on their Etsy shop? Is that okay with you? These are just good questions to think about, and if you don't have some sort of language that addresses it, you should. And the clearer and simpler you can make that kind of language, the better chance you have of people actually adhering to it and following it. And then if there is a problem, you can go after people if you have a problem and say, hey, this is actually outside of the terms, the licensing terms that you agreed to when you purchased a license to, to my product, that you use my digital product. So always something to think about if you have a digital product is that while digital products are easy and they're, you know, they easily go out to people— sorry, I got excited with the hair there— um, They're also easily copied, and so that's just something you have to think about is how am I going to communicate what the expectations are? How can I make that clear for the customer? And I even like, I suggest with my clients who have something that's a kind of a digital product that they have like green checks to say this is what you can do. You know, for my clients that are like in, you know, their stock photo or stock music, I have a couple clients that I've helped there. You know, we talk about you can use for, you know, an Instagram story, you can use through a YouTube video. You cannot use to play for a concert, you know, because as the only thing, this music. So we're not giving broadcast rights, you know. We, we splice it up, we make it really clear what you can and can't do with things with a green check and like a red X, okay? Make it like idiot-proof. Um, and then it's really easy if someone breaks that, if they breach that contract basically, because that's what those little licensing terms are, then you have something, you know, to go after them for and say, hey, we have a problem here. Um, so, and then you can come call, talk to me, and we'll take care of that problem. So, okay, so that's, um, kind of digital goods copyright question. Um, the last one that I had before was about tax ID. Um, and the question was, do I, um, need to get a tax ID if I have a service-based business? Um, and if, um, the, the question— and the answer is yes. This was a short answer. Yes, I look, I think LLCs are great and I almost always advise that people set up an LLC wherever they live, unless you live in California, which is a ridiculous franchise tax you have to pay of $800, $900 a year, which is just really stupid. That raises your costs. But otherwise, you set up your LLC at the state level and it protects your personal assets. So it doesn't really change your tax status. It's like a clear plexiglass cover You still, you know, get profits come in and you deduct expenses. It doesn't change your tax status per se unless you're taxing it as an S corp, which that's a separate thing, but you can do that as an LLC. You can elect to be taxed differently, and that's a good conversation for your accountant. You and your accountant go have a powwow about the S corp. But with an LLC, it means that if there's a problem, if a contract goes south and someone wants to sue you on that contract, they're only going to be able to get what's in your business assets, okay? Think of your two buckets there. You've got your personal bucket of all your personal stuff, your home, what you share with a partner or spouse, you know, your 401k, your savings, your cars, all that, all those goodies, personal bucket. You have your business bucket, and that's what's in your business checking account. That's your, you know, running, you know, capital, your printer, your, you know, photography equipment, your laser engraver, your 3D printer, whatever it is that you do, that's all in your business bucket. So someone has a problem with your business, they can only get what's in your business bucket. They're not going to be able to touch your personal bucket, okay? Your spouse will thank you, your future retiring self will thank you. So it's a great idea. If for whatever reason you choose not to take that advice and decide, I don't know, or you, you drag your feet and you don't set up your LLC, you come up with a lot of different excuses as to why you don't want to do it. At a minimum, I think that you should get your tax ID number, which is what this thing is called. It's called a tax ID. It's also called an EIN, an electronic identification number. It's all the same thing. And you get it through the IRS, and it's basically you fill out a couple questions and you ask the IRS to give you a new number that identifies your business. And what you do is you use this new number as kind of the Social Security number for your business. So instead of putting your personal social whenever you might need to, like to open a bank account, for example, you don't do that. You put it in the name of the business. The business is opening a bank account, not you. You know, the business is paying for your hosting software, not you. Okay? Keep it clean, keep it separate, set up your business bank account, and you do that by getting an EIN. So, and I think everyone should get an EIN. As soon as you are planning on starting a business, as soon as you start making any money or you're planning on making money, I mean, as soon as you want to start deducting business expenses, you know, set up some clean accounting, separate it, put things in your, your, in your different ledgers. And it's really easy to do that if you have a business bank account and you have a business credit card that you put all your expenses on. Then it's really easy to go through and say, yep, those are all my business things, those are all my personal things. Whether you're doing your bookkeeping or you're having someone else, you're partnering with it and you're your tax, you're counting your tax, it makes it a lot clearer. So, moral of the story, you should definitely set up your tax ID. It doesn't matter whether you're a product-based or a service-based business, it's just a good idea. So, the only weird thing I will say about setting up your tax ID is I would say go do it right now, but here's, I mean, you're not even gonna believe this. This website to get it has hours. It has hours. A website. I know, our government, honestly. So you have to do it. I think they close at like 10 Eastern or something, so they're already closed for the night. So you do have to do it, um, during the daytime. So, which I've forgotten a couple times when I've been working nighttime hours because I'm a naptime attorney, um, and I'm trying to get people's EIN so I can move them along and get their LLC set up. And I'll be like, oh, freaking crap. And they'll be like, website closed. Like, seriously, a website closes? Yeah, it's just insane. Just chalk that up to one of those government things I don't understand. So make sure to remember to do it during the day. Okay, those are all the questions I had before, so I will open up the floor if there's anyone who wants to jump on and put a question in the comments. I'll take it from my Facebookers, I'll take it from my Instagrammers. I'm sorry that like I'm not— I'm like picking my peep like Moana, but I somehow we lost our cool tripod in our move. Well, I think my kids destroyed it first and lost it. And I got some other little like octopus looking thing at Walmart today, but it wasn't tall enough and it was not working. So yeah, this is not doing it. So we have to, we have to go on Amazon and get the real deal. So, but yeah, if you guys have any questions that you want me to answer, just go ahead and put them in the comment box and I'm happy to take a shot at them with something that might be happening for your business. So I will— my plan is to have this be the time that we keep it at. So, and I'm gonna apologize if you're an East Coaster, because I know it's super late for you, but it's really hard for me to jump on in evenings until my kids are in bed, and this is when my kids are in bed. So that's just the way the cookie crumbles in terms of this. I will let you know if you guys have any other questions. Questions or you're looking for more resources to learn more about kind of the creative, you know, business admin side of having a creative business, um, I have a podcast that comes out, um, every week more or less, um, called Lawn Whip Creative Council for Entrepreneurs. Um, so you can listen to that on the go, makes it pretty easy. Um, and then I also have a newsletter that you can sign up for, brittanyratelle.com/newsletter. Um, and I don't even send that out every week because all the things. Because I normally get behind actually doing work for clients. Um, but I, I try to put in good information in there and recap, um, some of these so that you have the link for it, um, and kind of put what we talked about. So if you're trying to remember, oh, Brittany answered that question, and you're trying to remember what, you can look at those emails and kind of get a recap. Um, and then I also kind of hash out and summarize some of the content that I share on Instagram because I know that with the algorithm, you may or may not have seen the tips that I thought were so useful to you in Graham did not agree. Okay, are LLCs transferable through states? No, um, they are not because they are set up at the state level through your Secretary of State for your state. So like the Utah Secretary of State manages Utah LLCs, the Idaho one does it for Idaho. So, um, the question is, well, if I move, do I have to set up one in a new state? If you're planning on being in that new state like forever, like if that's kind of like your long term and you're planning on setting up connections with that new state, like say you're moving to Nevada and like you're gonna open up a physical shop there or manufacturing, or you want to be, you know, connected to local Chamber of Commerce, or, you know, you're trying to get plugged into that community, I would probably renew it and I would probably change it to the new state. Um, if it's more of a temporary thing, or especially for— I have clients that live overseas like all the time, and they're like, well, do I change? Then probably no, it doesn't really matter what state. So pick a state that you have some sort of connections to, um, and that has a cheap cost of doing an LLC, and then I would just keep it parked there. So, um, and you know, for people, sometimes I get a question of like, well, I've heard that like Delaware is preferable, or like in Nevada you don't have to pay, you know, state income tax, and they wonder if they can kind of game the system and register in a different state that they don't have any connect connection to. And the reason why that strategy doesn't really pan out is that wherever you live, you're going to have to register usually as a foreign corporation, and they're going to get their bite of your taxes anyway. So in terms of like a tax avoidance strategy, it usually doesn't actually work. So, but again, I'm not an accountant, so, you know, always check with your CPA, but that's generally what I've seen in terms of people trying to finagle and set up differently. It really matters, like if you are planning on issuing stock and like want to be a publicly traded company someday, then you probably want to incorporate in Delaware because most people who are, you know, looking to invest and, you know, capital investors who put seed money in, they want the preferential treatment that Delaware stockholders get. So, but if you're not, if that's not your game, if you're, you know, have a different vision, then it really doesn't matter where you register. So, okay. Um, okay, someone asked, I'm possibly going to be partnering. What are the things I need to be aware of and make sure I have legally to do in the right way? They want an S corp, but I was wanting to stay as an LLC. Thoughts? Um, what's great is you can stay as an LLC, but you can get taxed as an S corp. So I think that's a great hybrid because, um, normally if you start making around $50,000 or $60,000 in terms of that's what you are taking out of the business, that's kind of like your salary for the year. Then usually it starts being a better deal for you tax-wise and avoiding paying more on self-employment tax than you want to, to be taxed as an S-Corp, but you can stay as an LLC. The issue and why you want to kind of stay as an LLC as long as you can, and for some people they stay like that forever, is corporations, both the C-Corp and the S-Corp, have a lot more onerous administrative stuff you have to do. You have to file minutes, you have to do annual meetings, and it usually just ends up being more legal fees and more like accounting fees that you have to do, because you have to do all that stuff and you have to file reports about that with your state Secretary of State, you know, who's over all the business entities. So I'm not saying that like they're awful, you should avoid it like the plague, but just know that there are admin costs that come with it. So not a huge deal. I will say when you start getting into those partnerships discussion, the most important thing is that you have just a really good operating agreement and that you understand what the operating agreement says and your partners do and that you guys have all had those discussions about what business entrance and exit looks like into the new entity that you're partnering with. Because what happens is that it's kind of, I mean, not to belabor the business divorce analogy, but it's a lot like it. Like at the beginning, everyone's really in love, everything's like hot and exciting, exciting and no one could ever imagine like things going wrong and the business breaking up and having a nasty divorce. However, the reality is that divorces happen in personal life just like they do in businesses and if they go bad, they can go really, really bad. And while it's uncomfortable to have those discussions of like, hey, so what if one of us dies? How are we going to handle that? Or what if one of us gets a divorce and the equity in our company is now at risk of being split split by like someone else's ex-spouse who wants to get bought out, you know. It's really good to have those conversations in terms of what if we want to add someone to the group, what is that going to look like? What if we have someone in the group who's not pulling their weight? A resource that I would suggest looking into is called A Slice of Pie, and it is a— it's a model and it comes with software that comes with it. It's like a book and then, you know, a software that plugs into your computer desktop-based software that is for variable equity, which basically keeps track of the contributions that people are making to a multi-member group, and it changes. So, you know, if you are the graphic designer for the entity and that's how you're putting in your sweat equity, it kind of keeps track of your hours or your contributions. If you are the developer, it keeps track of that, and you guys decide together how is that going to be rated. Are those going to be equal, those contributions? Distributions hour for hour. If there's someone who's putting in capital, then that gets a piece. Um, but I think it's a really cool way of keeping people honest, um, because what happens at the beginning of a company is there's lots of excitement, like, you know, you're in the honeymoon phase. And then sometimes we have very different opinions and expectations in terms of who's going to be doing work. Um, and usually bad business divorces and breakups happen because of that, because people have not talked about, or someone's not pulling their weight, or it's perceived like they're not pulling the weight, or there's creative differences or whatever, and now someone wants out and you have to buy them out of the company. And maybe you have the cash to do that, or maybe you're just valued really high as a company, but you actually don't have the money in the bank. So now you have to take on a loan to buy someone out, which is not fun. So anyway, it's probably more than you want to hear, but those are just kind of big top-level thoughts of things to think about. As you're putting together a partnership. Which is why I highly suggest that for a multi-member group, an LLC, and a corporation, you need to work with an attorney to get that agreement written up. Okay? Please don't just get something off the internet or something that someone brings and sign it without making sure that you understand what you're signing and everyone else in the group and that you guys have talked about all those things that I just mentioned. Okay? So go online, work through through a questionnaire, a little partnership group, and have those awkward conversations. And they are going to be awkward, but guess what? They're so much better when either the business is going really well and there's lots of money, or the business is really not doing well and now we have lots of debt, and now we got to talk about how are we going to split up the debt. Okay, so, okay, um, so yeah, that's that question. Okay, um, we're almost getting half an hour, so if there's anyone else who has a quick question they want to jump on for. Um, doo doo doo. I'm not going to sing the Jeopardy music for you, but I'm willing to give a couple more minutes before we jump off. So, um, yeah, and I'll just mention resources again. My podcast, check it out, Law and Wit Creative Council for Entrepreneurs. Um, also mention, if you have not entered my trademark giveaway, please do that. I am giving away, um, it's a free giveaway for a trademark, okay? And trademarks are a really cool way to protect the brand of your business. You can protect your name of your business, a logo, a slogan. I am giving away, you know, your trademark in one class of goods or services, and I will take care of everything. It'll be completely free, including— so I will pay the government fees to do that, including I'll do the free lawyering attached to getting— doing the search and getting the application pushed through. So, but that giveaway closes on Friday. So if you haven't entered into that, go on the post, it's a hot pink post on my feed, and enter in, and you can tag friends for extra entries and that. So, but yeah, but that's an exciting gift. You know, that's worth, that's $1,000. That's my basic trademark patches is what they start at, just because trademarks take a lot of time and effort, and you wanna make sure they're done right and with the proper search or otherwise they're not worth it. Very much. So, okay, one last question. Um, can I copyright a digital template, for example, a website template? Um, yes, um, you can, as long as it's gonna be— um, again, it kind of goes back to, is it a unique work of authorship? So, um, if it's simply, you know, a layout in terms of, oh, we do a hero picture here, and then, you know, here's 3 bullets— I mean, you know what I'm saying? Like, if it's a if it's a straightforward enough layout that it doesn't look like it's original, then the office is probably going to reject it. And you have to be a little careful with graphic design stuff like that. Typically, if you just throw it in and say anything about graphic design or layout or a template, they, they reject it because they think like, oh, that's not unique enough. So there's a little bit of nuance that comes to that to try to get it protected. I have I have known people who have been able to get theirs successfully registered, but it's not exactly a black and white issue, so I'll have to say that it depends on that one. But definitely put copyright notices on, and like I talked about in the beginning, make sure that you have whoever you're doing business with, if they're buying and purchasing a template, make sure you have some terms in there, some licensing terms that address what someone can do with that template in terms of is it just for their personal website to use? Um, can they share this template? Can they make it available to the public? Can they use it commercially? Um, you want to address all those issues. So yeah, how about if it's a WordPress theme? So, um, that— I don't know if that makes— will make a difference per se if it's a WordPress theme. So if you can copyright it, I guess. Yeah, it'd be hard. I kind of would have just have to see it in terms of is it original enough in the way that the colors, it looks together, um, that you could have copyright protection for us. So, um, yeah, that one, yeah, that's something, it depends, and I'd have to see it kind of, um, in person before my eyes. So, um, so maybe yes, maybe no. Okay guys, um, it's time, so I'm gonna hop off. But thank you so much for joining me, and appreciate you being here, and I'll be here next Tuesday, same time, same place. Feel free to share with a friend or let a friend know about it, an entrepreneur friend who could find it useful. Thanks so much for the hearts. I love the hearts. Those are so cute. It's good to be back. I had a fun summer playing with my kids and I hope you guys did too. It's time to get back working on our businesses and I can feel it, feel it in the air. You're welcome. You're welcome for hosting the Q&A. Have a good night, everyone, and we'll see you next week. Okay, bye.