Importance of Patent for Startups

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Importance of patent for startups

• -Inolyst

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Contents

• Why patents for Startups?
• Startup patent strategy
• Protect your invention
• Financial support

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Why Patents for Startups?

• Startups have come to be known for their creative
  vibrancy and their relentless pursuit towards
  something new and different.
• When you are starting a technology company, there
  are so many aspects of business that you have to
  look into, that often the attribute of
  intellectual property is overlooked as a future
  criteria. It is very essential for an early stage
  startup to identify key issues and milestones
  hidden in the IPR of your product. This will help
  you as a founder to plan a cost effective
  strategy around it.
• Therefore founders today understand the
  importance of patent, which is an asset creation
  for the business as a whole.

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startup patent strategy

• A startup patent strategy revolves on certain
  criterias like
• Prevent the competitors in the market from
  copying the invention.
• Enhancement of the company reputation amongst the
  customers or creation of brand value
• Improve company valuation while raising venture
  capital
• Increases chances of strategic MA or licensing
  with partners

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Protect your invention

• When the protectable piece has been identified
  and a decision to go for patent has been made, it
  is often best to file a provisional patent
  application. In case a startup runs on a tight
  budget, this becomes the most cost-effective tool
  for securing the earliest priority right to the
  invention, which becomes important for long term
  gains.

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financial support

• The importance of filing patent has also been
  observed by developing countries like India. Only
  last year the government introduced financial aid
  to technology based startups that were willing to
  file international patents. The scheme gives up
  to half the expenses for filing patents. The plan
  also talks about re-funds on the legal expenses
  borne by the company or individual during filing.
  The ability to identify and protect your IPR
  directly reflects on investor confidence,
  resulting access to capital available to
  technology startups.

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• So, if you have a query and feelings lost, about
  getting started with filing patent, get in touch
  with Inolyst and we will help you build an
  effective patent portfolio.