SUMMARY: PROTECTING INTELLECTUAL PROPERTY (IP) AT STARTUPS TALK SATURDAY - LOUNGE47 PERSPECTIVE SERIES When: Saturday 22nd. November 2014 – 4pm Where: Lounge47, Defence Colony, Indiranagar, Bangalore This past Saturdays presentation - “Protecting Intellectual Property at Startups” was a highly interactive one with questions from entrepreneurs leading to much learning for all. Some key takeaways from the session: 1) IP is not a “ghost” to be feared, but a “friend” to be nurtured 2) Familiarize yourself with all aspects of IP relevant to your business and your idea. Just being informed helps you manage about 70% of the risk 3) The vision of the Startup should lead to an IP strategy that allows easy answers to key questions like – Should I patent or not? Which markets should I file patents in? etc. 4) Myths around IP should be shattered (example: unclear explanations of ideas to obfuscate full disclosure can leave Startups with a lack of protection) 5) The philosophy of patent protection should be understood – Governments give inventors a monopoly for a certain period of time in return for full disclosure from the inventors so that the next inventor/entrepreneur can execute and push the envelope for the general benefit of society 6) Misuse of patents can kill a company. Founders should do an initial patent search to ensure that they are not in violation. 7) Patent services companies are highly skilled (and expensive) but Startups may want to consider hiring these services because shortcuts often lead to significant exposure 8) Startups that are bootstrapping, can consider a provisional patent filing 9) Intellectual property is not just patents - Copyrights, Trademarks and Trade Secrets offer protections that should be considered as well. Indian entrepreneurs should take IP seriously to build credible businesses. lounge47.in
Posted on: Sun, 16 Nov 2014 16:58:43 +0000
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