Navigating the world of intellectual property is challenging for seasoned entrepreneurs, and even more stressful when you are working on designing and launching your very first product. Intellectual property (IP) is often moved to the bottom of the priority list because it is full of unknowns. When is the right time to file? Do I need a design patent? Is a trademark necessary?
With the spread of technology and globalization, a solid intellectual property strategy has never been more critical. Copycat products are popping up at an alarming rate—which is bad for business and dangerous for consumers. Having a strong intellectual property strategy early-on or having the patent process started, is a great way to protect your invention, attract or solidify partnerships and secure funding.
Below are links to help you get familiar with intellectual property terminology, resources, and strategies.
Intellectual property (IP) protection is an important consideration for any startup, and possibly even more so for hardware startups. Patents are a way to not only protect an idea, but to also minimize competition and act as a defense mechanism against infringement claims from others. Here are four considerations for your startup’s intellectual property strategy.
No two products are alike; therefore, a custom-tailored strategy is necessary when it comes to navigating these two areas of product development.
On the IP side, a decision must be made about what type of patent (design patent or utility patent) makes sense for the invention and budget. On the manufacturing side, everything about the design, even the smallest details, must be accounted for when selecting materials and where to manufacture the product. Having insight and answers early-on in the startup journey helps entrepreneurs understand the full spectrum of what it takes to bring a product to market.
A provisional patent application early-on can be very beneficial for a hardware startup if your business goal is to either license your invention or proceed with a patent filing.
If you are planning to manufacture your product abroad, considering a crowdfunding campaign, wanting to speak with potential investors or find yourself constantly worrying about someone copying your invention, then meeting with a patent attorney is a great idea.
Whether you are at the helm of a startup that plans on crowdfunding a product or a SME working on a new and innovative technology, securing and protecting your intellectual property (IP) rights to that invention is key to successful commercialization.
Some people confuse patents, copyrights, and trademarks. Although there may be some similarities among these kinds of intellectual property protection, they are different and serve different purposes.
Have additional questions regarding an intellectual property strategy for your startup? We are happy to help. Send us an email at email@example.com
3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.