Using patent filings can help your start-up both from a business perspective, as well as strategically.
Preventing others from practicing your invention can be a key part in long-term sustainable business models. For example, providing licenses for applications and use cases of your hardware can create additional revenues for tech start-ups, on top of the selling price of the product itself. Biotech or pharma start-ups benefit from early patent filings during initial financing rounds.
Further, your software or pharma product may be licensed at higher royalties, depending on your ability to back-up your USPs by IP rights. Finally, owning your own patents can even help your freedom-to-operate: a company that has its own rights to a technology is often less susceptible to third-party claims.
Besides such business aspects, there are also the strategic aspects of patent filings. Consider: often, early-stage revenues for tech start-ups are not generated through product sales, but rather by engaging in R&D cooperation with established players, e.g., for a proof of concept. Here, it can be vital to be able to bring your own IP assets to the table, to then negotiate a joint cooperation at eye level rather than being forced into a vertical research contract.The ability of young companies to quickly set up and execute a successful IP strategy is often highly valued by investors.
At Kraus & Weisert, we understand that start-ups in all sectors of technology have their own specific IP needs. We have worked with many start-ups from the Munich tech and biotech/pharma community and can use our experience to provide holistic advice. We can help with waterproof transfer of rights into the company, set-up of an invention workflow within your company, assist as part of the due diligence process, provide tools for cost planning of IP for your business plan and, last but not least, be your competent partner in the invention, harvesting and filing process.
Our attorneys at Kraus & Weisert have inside knowledge and know how of IP related topics coming up at start-up companies. When it comes to obtaining and enforcing IP rights, our clients can rely on our expertise.
Contact our team for more information.
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