Patents level the playing field between startups and incumbents
Investors are likely to invest in a startup that has patents in its name
Unless a startup trademarks its logo, it may discover unscrupulous companies copying its logo
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.The technology at the crux of a startups model, unless patented, can result in its failure.If a startup has a unique unpatented invention, larger rivals can easily copy, manufacture, and market it, effectively negating the startup’s effort in creating its invention. Hence patents also protect smaller startups against larger rivals that have far greater resources.Leveraging intellectual property by Startup is not only a recommendation but is mandatory for its success and growth in the marketplace.
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.