Why Startups Need Attorneys Who Specialize in Intellectual Property Protection
Launching a new business is a demanding endeavor, so it is all too common for startup owners to overlook one of the most pivotal decisions they can ever make for their business: hiring business attorneys for Intellectual Property Protection. It does not help that there many myths about the importance of intellectual property for startups.
As experts in all areas of business law, including intellectual property, Jurado & Farshchian can shed light on these misconceptions and how we can help.
Why Intellectual Property Protection Should Be a Priority
With so many other pressing needs for your new business, safeguarding your intellectual property would seem to be the furthest issue on your mind. Many business owners are under the impression that protecting intellectual property is an expensive and time consuming endeavor that they simply cannot afford to deal with in the initial stages of their business.
On the contrary, Intellectual Property Protection should be at the top of your priority list. To understand why, it is important to go over the four broad categories of intellectual property:
Patents — Protects a novel invention or a utility function of a good or service
Trademarks — Protects the brand of a company, e.g. its logo, slogan, etc.
Copyright — Grants exclusive right over a form of expression, such as visual art, music, published work, or software codes.
Trade secrets — Any process, design, commercial method, or formula that is unique to your business and key to its competitive edge and success.
While not all of the above-listed intellectual property assets may be relevant to your business, it is likely that at least one of them will apply and thus warrant protection. If you want your startup to grow and succeed as soon as possible, you need to ensure that all of its most crucial assets — intellectual or otherwise — are safeguarded from imitation or theft. Your intellectual property is the key to your startup standing out from the competition, especially in the crucial initial stages when you are first entering the market and need to build up your clientele base.
Even if you think your idea or innovation is exceptionally unique, each day that passes without legal protection increases the likelihood that a competitor will come up with a similar creation and beat you to filing for protection. This is all the more pressing given that since 2013, the U.S. Patent and Trademark Office changed its policy from “first-to-invent” to “first-to-file.” In other words, even if you provide proof that you came up with an idea first, the person who is first to file gets the protection.
Isn’t Intellectual Property Protection Too Expensive for Startups?
Perhaps the biggest reason startups are initially reluctant about protecting their intellectual property is that it is deemed too costly to afford at the early stages of their business. Jurado & Farshchian business attorneys specialize in providing cost-effective Intellectual Property Protection that meets the special demands and challenges of startups. Given what is at stake for the future of your business, it pays to work with a law firm that has helped numerous entrepreneurs protect their most cherished innovations and brand identity.