How to handle patents and intellectual property as a start-up
Jun 2, 2024
You've had a brilliant idea and you've decided to pursue the exciting adventure of entrepreneurship. You're enthusiastic, motivated, and determined to make your innovative product or concept a reality. But among the many challenges of building your business, there's one vital element that often gets overlooked: intellectual property (IP) and patents.
Most start-up founders are magicians! They create 'the next big thing' out of nothing, like pulling a rabbit out of a hat. But running a start-up requires you to switch between different roles, such as finance, marketing, sales, R&D and HR to name a few.
It’s no wonder then that IP and patents are often neglected. But the sooner you think about these things, the more they can boost the growth of your new venture and set the stage for lasting success. Here are three reasons why they matter:
1. Protecting your Creation: Securing your idea as a start-up
Suppose you've made a ground-breaking widget that's ready to shake up the market. A patent is your key to preserving this creation from competitors and imitation attempts. In simple terms, a patent gives you exclusive rights to your invention, stopping others from making, using, or selling it without your consent. It's like putting an invisible barrier around your idea, ensuring it stays uniquely yours in the huge arena of innovation.
2. Planning your route: Freedom to Operate as a start-up
Before you start your journey, it's important to expect possible hurdles. Performing a Freedom to Operate (FTO) search helps you in this process. Think of it as scanning the terrain to ensure a smooth path ahead. By verifying that your product doesn't infringe on existing IP or patents, you reduce the chance of facing legal issues and the dreaded “cease and desist” letter, protecting your start-up goals from potential delays.
We have designed a vector search solution to simplify how you search for patents. Whether you are getting a sense of the state-of-the-art before applying for your own patent or looking for potentially problematic patents to avoid, vector search makes it easy to get started. Check out our video on Vector AI patent searches below
3. Preparing Your Canvas: Due Diligence
Due diligence is part of entrepreneurship. Investors, banks, and venture capitalists (VCs) often value a start-up by its innovation potential. This is where patents stand out as signs of trustworthiness. By exploring patent landscapes and studying competitor portfolios, you show your start-up's leadership in technological advancement. It's like displaying a gallery of your accomplishments, proving that you're not just another game-player but a visionary leader ready for success.
According to the EPO-EUIPO, start-ups with patents have a better chance of getting investment, and all companies in general do better if they have a patent:
You may say "this is nice, but I have no time to read a lot of patent information". We understand that patents can be hard for startups, so we created Patently to make it easy.
Join Patently for free today to see who else is working on similar ideas, find out where you fit in the market, and take steps to secure your invention.
By Andrew Samm, Director
Most start-up founders are magicians! They create 'the next big thing' out of nothing, like pulling a rabbit out of a hat. But running a start-up requires you to switch between different roles, such as finance, marketing, sales, R&D and HR to name a few.
It’s no wonder then that IP and patents are often neglected. But the sooner you think about these things, the more they can boost the growth of your new venture and set the stage for lasting success. Here are three reasons why they matter:
1. Protecting your Creation: Securing your idea as a start-up
Suppose you've made a ground-breaking widget that's ready to shake up the market. A patent is your key to preserving this creation from competitors and imitation attempts. In simple terms, a patent gives you exclusive rights to your invention, stopping others from making, using, or selling it without your consent. It's like putting an invisible barrier around your idea, ensuring it stays uniquely yours in the huge arena of innovation.
2. Planning your route: Freedom to Operate as a start-up
Before you start your journey, it's important to expect possible hurdles. Performing a Freedom to Operate (FTO) search helps you in this process. Think of it as scanning the terrain to ensure a smooth path ahead. By verifying that your product doesn't infringe on existing IP or patents, you reduce the chance of facing legal issues and the dreaded “cease and desist” letter, protecting your start-up goals from potential delays.
We have designed a vector search solution to simplify how you search for patents. Whether you are getting a sense of the state-of-the-art before applying for your own patent or looking for potentially problematic patents to avoid, vector search makes it easy to get started. Check out our video on Vector AI patent searches below
3. Preparing Your Canvas: Due Diligence
Due diligence is part of entrepreneurship. Investors, banks, and venture capitalists (VCs) often value a start-up by its innovation potential. This is where patents stand out as signs of trustworthiness. By exploring patent landscapes and studying competitor portfolios, you show your start-up's leadership in technological advancement. It's like displaying a gallery of your accomplishments, proving that you're not just another game-player but a visionary leader ready for success.
According to the EPO-EUIPO, start-ups with patents have a better chance of getting investment, and all companies in general do better if they have a patent:
You may say "this is nice, but I have no time to read a lot of patent information". We understand that patents can be hard for startups, so we created Patently to make it easy.
Join Patently for free today to see who else is working on similar ideas, find out where you fit in the market, and take steps to secure your invention.
By Andrew Samm, Director
Most start-up founders are magicians! They create 'the next big thing' out of nothing, like pulling a rabbit out of a hat. But running a start-up requires you to switch between different roles, such as finance, marketing, sales, R&D and HR to name a few.
It’s no wonder then that IP and patents are often neglected. But the sooner you think about these things, the more they can boost the growth of your new venture and set the stage for lasting success. Here are three reasons why they matter:
1. Protecting your Creation: Securing your idea as a start-up
Suppose you've made a ground-breaking widget that's ready to shake up the market. A patent is your key to preserving this creation from competitors and imitation attempts. In simple terms, a patent gives you exclusive rights to your invention, stopping others from making, using, or selling it without your consent. It's like putting an invisible barrier around your idea, ensuring it stays uniquely yours in the huge arena of innovation.
2. Planning your route: Freedom to Operate as a start-up
Before you start your journey, it's important to expect possible hurdles. Performing a Freedom to Operate (FTO) search helps you in this process. Think of it as scanning the terrain to ensure a smooth path ahead. By verifying that your product doesn't infringe on existing IP or patents, you reduce the chance of facing legal issues and the dreaded “cease and desist” letter, protecting your start-up goals from potential delays.
We have designed a vector search solution to simplify how you search for patents. Whether you are getting a sense of the state-of-the-art before applying for your own patent or looking for potentially problematic patents to avoid, vector search makes it easy to get started. Check out our video on Vector AI patent searches below
3. Preparing Your Canvas: Due Diligence
Due diligence is part of entrepreneurship. Investors, banks, and venture capitalists (VCs) often value a start-up by its innovation potential. This is where patents stand out as signs of trustworthiness. By exploring patent landscapes and studying competitor portfolios, you show your start-up's leadership in technological advancement. It's like displaying a gallery of your accomplishments, proving that you're not just another game-player but a visionary leader ready for success.
According to the EPO-EUIPO, start-ups with patents have a better chance of getting investment, and all companies in general do better if they have a patent:
You may say "this is nice, but I have no time to read a lot of patent information". We understand that patents can be hard for startups, so we created Patently to make it easy.
Join Patently for free today to see who else is working on similar ideas, find out where you fit in the market, and take steps to secure your invention.
By Andrew Samm, Director