7 reasons why startups must protect IP

Startup companies face a number of different challenges on the road to becoming established businesses. Anything from financing growth to creating a brand image and company reputation can constitute a real trial for firms in their early stages and once achieved it would be devastating to have it ruined. One particular area in which new companies should really pay special attention to, but often detrimentally overlook, is intangible assets. It is vital that startups protect intellectual property (IP) and below are seven reasons why.

Why startups must protect IPR

  1. Smaller firms must trademark their brands and innovations in order to protect themselves from established companies with more resources who could easily steal intangible, and most valuable, assets.
  2. Patenting innovations means a business is the sole company entitled to make use of the patented product or service.
  3. A patented innovation grants a company exclusive usage of said innovation for 20 years.
  4. Patenting innovations increases companies' value and therefore attracts more investors as the patents can give investors access to new technology and it may also result in other related innovations arising.
  5. Possessing patented innovations, trademarked logos, and other protected assets gives startups a competitive advantage over larger companies.
  6. By protecting trademarks and innovations, companies effectively prevent competitors from taking advantage of their hard work and capital invested.
  7. Protecting a brand or logo by obtaining a registered trademark, makes it more difficult for counterfeiters to profit from a brand and its other intangible assets.

Understand brand protection and find out what IP Protection Services we can offer to startups and companies of all sizes.

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