This document discusses the importance of protecting intellectual property for entrepreneurs and startups. It notes that IP theft costs US companies $250 billion annually and that while 100% of companies have IP, only 20% of startups protect their IP after the first year. The document encourages entrepreneurs to identify and protect their intellectual property through trademarks, patents, copyrights, and trade secrets in order to exclude competition, attract investment, and avoid IP loss or infringement that could lead to business failure. It provides examples of different types of IP and strategies for protecting IP, such as hiring professionals or using free online resources from the USPTO and Copyright office.