Why Patent Protection is Necessary for Your Startup



Multiple studies have shown a direct correlation between a startup’s patenting strategy and the probability of its success in fundraising or commercial growth. That’s why safeguarding intellectual property for your startup in the form of patents, trademarks, or copyrights is the need of the hour. Also, the impact is stronger when you protect your innovation in the initial phase of your business than after the ideas have become successful.

Let’s look at 12 ways how having a sound IP strategy from the beginning can help your startup:

1.      Prevent copycats

Most startups face stiff competition from companies of all sizes where everyone wants to gain a competitive edge with less resources and time. As a startup, you are completely dependent on your inventions, so you must protect them from potential infringements such as imitations by competitors. Patent protection puts a legal check on your competition and prevents others from misusing your property.

2.      Openly discuss your product

If you have a patent, you can market your idea or product openly to prospective investors or customers without any sleepless nights over the risk of your product or technology specifications being misused. In most cases trying to keep the idea/product too vague and away from its core USP can turn off the other party. Furthermore, many companies are apprehensive about signing a NDA before the first couple of discussions. With a patent, you can overcome these situations with ease.

3.      An anchor for your invention

Owning patentable inventions give startups more leverage when attracting investors and/or customers. Bigger companies are more likely to acquire or license a technology from a startup which possesses well-protected IPRs (patents). Research says that 80% of startups that entered partnership agreements and received venture capital investments already owned patents.

        Learn more: The benefits of patents for your startup.

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