Despite the fact that plenty of entrepreneurs think protection of intellectual property isn’t that important, the IP is still an essential question for every tech startup company. These days startup trends are revolutionizing intellectual property. As per their particular branch in the industry, each startup eventually needs to face aspects related to patent registration at a point in their development.
Did you know that over 68 percent of patent court cases come from non-practicing business entities? This is why you should further consider the costs associated with not having any type of IP protection. What’s more, over 67 percent of the companies report that their IP protection is of significant importance for funding sources. That is why numerous startup trends have started springing up.
Overall, the risks associated with lawsuits are a strong reason alone for each company to start protecting its patents. This is one more reason as to why you should consider protecting your IP. This article will discuss startup trends and what can be protected and how.
Startup trends Methods of Registration
Prior to taking any type of acquisition of resources, branding, etc, into consideration, you shouldn’t spare any expense on getting legal advice. Patent attorneys are capable of leading the whole process of registration on the company’s behalf. The following list will discuss the range of legal actions that the attorneys can execute, as per the type of the patent.
This is a legal right which protects the creative type of work and any category of official content of the company. This ensures the use and distribution on behalf of the patent holding firm and offers exclusive rights, generally for a limited time period.
This is in regards to recognizable design, typically a sign, logo, or any other form of visual design. This solely serves for connecting any particular product to its source. It also ensures that no one else can still the design.
These are definitely the most complex aspect of IP protection, and as per their structure, this is how the law can protect them. It is highly essential for startups to understand every variation of the types of patents.
These are reserved for machines, processes, useful inventions, and manufactured goods. Overall, utility patents need to provide some form of identifiable benefit and are capable of use.
These are somewhat similar to utility patents. They are applicable for non-functional, new designs embodied in any article of manufacture. As they don’t need maintenance fees, they are a renowned choice.
You can patent business methods as well. Any specific business model can be protected and registered legally for insurance which means other firms cannot copy the model and resultantly establish themselves as a competitor in the market.
Many of the companies consider assigning their IP to the firm, because of possible issues with liability. On the contrary, one can opt for implementing some methods that can help them protect their patent without any official protection and registration of patents. This is exactly how intellectual property is being revolutionized by startups.
Non traditional methods have always been popular for patent protection. Well designed contracts are a common weapon of contemporary startups to keep company secrets. One more thing that one should learn as an entrepreneur is getting everything filed and signed. This includes partners, employees, and investors as well.
Non-Disclosure Agreement (NDA)
This is also known as a Confidentiality Agreement (CA) and has other vibrations of a legal contract as well. It is basically an agreement between two or more parties about any type of confidential material.
Non-Compete Agreement (NCA)
This is also called a Non-Compete Clause (NCC). It is simply a type of contract between an employer and consultants, advisors, designers, and employees.
With these strategies, companies can secure their trade from possible contravention and violation. Every aspect from simple brainstorming processes and details about any product or service can be given protection through such agreements.
Each of us strives to provide something new to the market. This is why innovation is the main force behind contemporary startups trends. However, once that unique proposal for sale is found and you are able to create an idea that can rebuild your company and your brand, you definitely need to make sure it is protected.