Five Steps to Secure Your Startup’s Intellectual Property

Getting a startup off the ground is often a collaborative enterprise, and requires a close working relationship with a number of professionals and advisors. It’s not uncommon for some of these collaborators - particularly those who were part of the endeavor’s early days - to claim ownership rights in the company. Avoid the costly expense of future litigation over ownership rights by creating documents that clearly establish ownership rights in the company and its intellectual property, and be sure all third parties sign.

There are quite a few intricacies related to patent protection. For example, you cannot secure valid patent protection if you publicly disclose an idea before you’ve filed a patent application. If you decide to hold an investor call and make that call open and available to the public, or go to the press before your patent is registered, you will likely forfeit your right to the patent. Be sure you’re familiar with all patent requirements before making any major moves.

A patent is not as easy to secure as a copyright. In order to obtain a patent, your idea or solution must be truly new and innovative. It must also fall specifically under patent eligible subject matter, which varies by country and state. For example, you may be hard-pressed to obtain a patent if your idea is far too abstract or relates too closely to phenomena that occur in science or nature.

Bear in mind that earlier patent applications often gain priority over applications that are filed late in the game. However, first to file often means you’re charting new territory, and getting a proof of concept is harder to do. Working with an IP attorney who can help you develop a clear strategy is a good approach to ensure you both obtain and secure your patent from future litigation.

Before you take steps to operate your startup or file your patent, do some research to ensure that a similar patent or idea doesn’t already exist. Intellectual property litigation can be costly and time consuming, and significantly impacts your chances of being a successful startup venture. While it’s impossible to fully eliminate risk, you can mediate your risk by working with an attorney experienced in patent searches, and work collaboratively to identify strategies to work around existing protections.

Whether you’re just getting started or are well on your way to founding a new company and wish to secure your firm’s intellectual property, you’ll want to be sure you consider whether a patent is appropriate for your endeavor.