Do you have an invention, process, or design that sets your startup apart from other businesses?
Are you wondering whether it’s worth the time and money to protect it from misuse?
In this article, we’ll dive into why patents are important for startups and a startup patent attorney’s role in securing your intellectual property.
Schedule your free consultation with a startup patent attorney today.
Why are patents valuable for startups?
Patents are a form of intellectual property protection that gives the patent holder exclusive rights to their invention.
You can protect the following types of items or processes with a patent:
- Inventions: Machines, devices, appliances, or other manufacturable items
- Processes: Chemical, technological, or industrial processes or methods
- Designs: Design of functional items, such as phones, chairs, etc.
- Chemical compositions: New compounds, mixtures, or alloys
- Improvements: Enhancements to existing inventions
- Software: Including unique methods or algorithms implemented by the software
- Biotechnical inventions: Medical or diagnostic methods, new plant varieties, etc.
- Business methods: Methods of e-commerce, banking processes, etc.
A startup’s innovations need protection to safeguard their growth, sustainability, and competitive edge.
Securing your intellectual property prevents competitors from copying, using, or selling your ideas without permission.
These protected innovations are your golden geese, helping you to attract investors and generate revenue through licensing agreements.
Are patents worth it for startups?
Only you can determine whether a patent is worth it for your startup based on the nature of your business, industry, and competitors.
However, here are some considerations to help you decide if pursuing a patent is a smart move:
- Gives you a competitive advantage
- Creates opportunities with investors and licensing agreements
- Increases the valuation of your startup
- Paves the way for international growth
- Protection generally lasts about 20 years
- Patent holders are responsible for enforcement
In certain industries, patents are crucial to your success.
If you’re trying to decide whether your startup needs patents, a startup patent attorney can provide the resources, guidance, and support you need.
How a startup patent attorney can help
Intellectual property is a complex world.
A startup patent attorney is specifically trained to help you navigate the ins and outs of this new world.
Strategic consulting
Do you even need a patent? If so, which of your innovations should be patented?
And how would these patents fit into the larger picture of your business?
A startup patent attorney can help you answer all these questions and advise which intellectual property protection strategies will give you the greatest competitive edge.
Patent searches and evaluations
Patent attorneys will perform extensive searches to ensure similar inventions do not exist—and that you’re not wasting your time or money.
Drafting and filing patent applications
Patent applications require specific technical and legal expertise.
Patent attorneys are trained to draft and file applications that increase your likelihood of the patent being granted.
Managing patent portfolios
As your startup and patents grow, your patent attorney will help you manage your portfolio to ensure all patents are filed on time and adequately protect you—now and in the future.
Enforcing the patent
Patent attorneys can negotiate settlements or pursue litigation if your patents face infringement.
Work with Stanzione & Associates, PLLC
Stanzione & Associates, PLLC, has over 30 years of experience protecting the intellectual property of corporate entities, small businesses, startups, and individual inventors.
Schedule your free consultation to discover how our patent attorneys can help you.