By: Dinesh Jotwani
Nearly 90% of startups fail within their first five years. With the odds stacked against them, they need nearly everything to fall into place to succeed including Intellectual Property Rights.
A startup is essentially a disrupter. It disrupts an existing market by providing more convenient service, a service at a lower cost, or both. Every startup that enters a market believes it has a unique strategy. At the heart of every startup’s strategy is usually a technology and a clever name or attractive logo.
Intellectual Property Is Crucial For Startups
The surest way a startup can succeed against larger rivals is by patenting its innovations and inventions. Patents level the playing field between startups and incumbents by ensuring those who innovate are adequately rewarded.
When a startup patents its ideas its valuation increases and it is likely to attract investors. This is because investors are more likely to acquire a startup whose patents, designs, and trademarks are protected.
When a startup patents its ideas, it is the only entity that can take advantage of creating products or services using its patents. This allows it to create unique products and services that have a good chance of success, thereby increasing profits.
Read more >> https://inc42.com/resources/intellectual-property-protection-crucial-startups/
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