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How to Avoid an Intellectual Property Disaster

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The document outlines essential strategies for avoiding intellectual property (IP) pitfalls for startups, emphasizing the importance of understanding ownership, having a clear strategy, and recognizing the value of IP. It details the types of patents available, costs associated with filing, and the significance of proactive IP management for enhancing business valuation. The author stresses that investing in an IP portfolio can lead to substantial financial benefits for startups.

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HOW TO AVOID AN INTELLECTUAL PROPERTY DISASTER IDEA TO IPO Steven Colby, JD, Ph.D. Patent Attorney – Rimon Law, PC steven.colby@rimonlaw.com © Steven Colby 2022 Feb 4, 2022
THE DARK SIDE… WHAT YOU DON’T KNOW CAN HURT
MISTAKES 1) Ownership 2) Ownership 3) Waiting 4) No Strategy 5) Understanding the Patent 1) Specification 2) Claims
OWNING YOUR IP • Ownership initially vests in the INVENTORS (USA) • Applications must be assigned to the company • Assign Clauses • Employer IP • Assignment process
OTHER PEOPLE’S IP • The start-up viewpoint • Read the literature • Keep records • Open source trap
WHEN DO I NEED TO START THINKING ABOUT IP? • Yesterday….
STRATEGY • Patent for the Marketing Person, Not the Engineer • Product Driven • Focus on Valuation • Make IP more than just a Checkbox
SEEING THE LIGHT… IP CAN MAKE YOU RICH(ER)
WHY WOULD YOU DO THIS? WHY WOULD A CASH LIMITED STARTUP PUT THOUSANDS OF DOLLARS INTO THE DEVELOPMENT OF AN IP PORTFOLIO?
WHAT CAN I GET? • Copyright • Trademark • Trade Secrets • Patents
COMMON TYPES OF PATENTS PROVISIONAL • Placeholder • Quick & Easy • Inexpensive • ONE Year NON-PROVISIONAL • Ornamental • 14 years • Moderate Cost DESIGN • Enforceable Rights • 20 years • High Cost
WILL I RULE THE WORLD WITH MY PATENTS?
WHAT DOES THIS ALL COST? 2000 18000 30000 $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 Provisional Non-Provisional filing Patent Issue Patent Costs (US) First Application Family Members
How to Avoid an Intellectual Property Disaster

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How to Avoid an Intellectual Property Disaster