... Read more →
It is always best to set up rigorous intellectual property (IP) practices from Day One, but more often than not it gets pushed to the side for ‘later’. If you take a step back though and put this into perspective, ask yourself one question, What is my startup’s most valuable asset? It is not the workspace or funding, but the intellectual property—the disruptive idea, brilliant invention or genius breakthrough. The IP is the heart and soul of the business. This integral piece of your startup needs to be protected by patents, copyrights and/or trademarks as well as through a few internal measures. Without a proper IP strategy, you are leaving the door open for major complications down the road.
To best protect your startup’s most precious asset, it’s critical to have all founders, employees and anyone involved in creating the idea sign over their intellectual property rights to the startup itself. The best time to do this is in the early-stages of business, but if that has already come and gone, we suggest doing it ‘now’ instead of ‘later’. Here are a few other instances where locking in a firm IP process is beneficial.
We highly suggest that you take the time early-on to consult with a licensed IP attorney to assist in the development of a strong IP strategy for your startup.