2. INTRODUCTION
IPR provide certain exclusive rights to the inventors or
creators of that property, in order to enable them to reap
commercial benefits from their creative efforts or
reputation.
Intellectual property (IP) for startups includes
using copyrights, trademarks, and patents. Safeguarding IP
is much easier in the beginning phases of your business
than after those ideas have become successful.
IP protection puts legal checks on your competition,
preventing others from infringing on and profiting from your
property.
A sound IP strategy from the beginning can also help attract
investors, suppliers, partners, and more because this form
of protection offers more security with any potential success.
3. Why Is Intellectual Property Important for
Startups?
The driving force behind a startup is a novel idea. Putting that idea into practice
successfully is what transforms small startups into multibillion-dollar corporations.
The purpose of intellectual property laws is to protect those ideas and concepts
that underpin your startup.
A major part of your competitive advantage and attractiveness to investors is how
well defined — and well protected — your IP is in your startup's portfolio.
In this way, IP is an asset to your new company, thus enhancing your commercial
value.
Part of the IP process involves searching for other companies that might already
have rights to certain inventions or trademarks.
4. Reasons to Secure IP Rights for Your Startup
Many startups simply can't afford not to secure rights in their IP.
A startup doesn't need millions of dollars and a team of attorneys to get basic IP protections.
Getting basic domestic IP protection usually involves only a few small fees and some legal
research. The benefits, by comparison, are huge:
Deterring other companies from unfairly profiting off your material
Presumption of ownership.
Protection from infringement suits.
The key ingredient to competitive advantage.
Security and investor appeal.
5. Intellectual Property Strategies For Technology
Startups
1. Keep your employment work separate from your new idea
2. Don’t let other people claim ownership of your IP or your company
3. Have contributors assign their IP to the company
4. Evaluate your core assets and decide on the type of IP protection you
need
5. Make sure you have a great name
6. Patent strategy should be cost-effective and not avoided
7. Consider a global patent strategy, including China
8. Take care in using open source software
9. Only litigate IP disputes out of principle in rare cases
10. Be careful in hiring new employees
6. Importance of IPR
Proportion of IPR active and inactive tech-startups among those that give high rating to a
particular IPR form.
Among those who consider patents to be of high importance (most important) for their
business, only 47% firms actually file for its protection, while a very large proportion (i.e.
53%) are inactive in patent filing
7. Steps to File for IP Protection
Trademark:
After you've performed a thorough trademark search, complete the trademark
application form on the USPTO's website.
The cost to file online as of January 14, 2017, is now $400.
Copyright:
Complete a copyright application with the U.S. Copyright Office.
The fees associated with copyright registration can range from $85 to $130.
8. Patent:
File online with the relevant patent application. The cost of filing for a patent can vary
widely depending on the nature of the patent and the complexity of the invention.
The most expensive part of filing for a patent is usually attorneys' fees, as you'll most likely
need a patent lawyer to help you.
Patent application fees range from $65 for individuals to more than $700 for large
businesses, depending on the type of patent application needed.
Trade secret:
What makes trade secrets valuable is their secrecy, which is why, unlike other forms of IP,
you can have legal protection for your trade secret without registration.
For the law to protect your trade secret, you must take reasonable steps to safeguard its
confidentiality.
Non-disclosure or confidentiality agreements are typically the best way to protect your
startup's trade secrets.