HOW TO SPEND IT — PART 14
How to Secure Patents and Trademarks for a Startup
Three Aspects: Patents, Trademarks, and Alternatives
Intellectual Property (IP) can take so many forms. When we talk about protecting it, there are two legal options: When it comes to protecting it, there are two legal options: Patents and trademarks. In addition, there are other ways to protect your intellectual property. We will discuss them later.
Companies that rely on a technical invention can gain enormous market advantages as long as it is not possible to copy their product. Therefore, an invention immediately has a measurable value, which — if possible — needs to be protected by a patent.
Brands are also often seen as very valuable. This applies to large, well-known companies and their products. Brands are an even broader concept that includes one or more trademarks, but also the overall perception of the entire company.
Build a brand! Build a brand! Build a brand!
You may have heard this call many times before. Yes, it’s true that every business should build a strong brand. It helps in many ways: sales, hiring, pricing, partnerships and much more.
The disappointing truth is that the value of a brand and trademark for a start-up in the early stages is quite low. Nevertheless, it is advisable to protect it early on. Its value will grow over time.
How to start? With preparation!
Organizing for IP Protection
When setting up a company, there are usually more things to do than there is time for. I have experienced this myself six times.
What to Protect?
Nevertheless, you should take the time to make a list of what should be protected. In doing so, you will probably find that there is more than you thought.
This is just one example of what such a list might look like: