Protecting IP assets key to success of startups

By Ritika Agarwal, LexOrbis
1
1974

Recent efforts by the government, investors and innovators have helped facilitate the growth of budding businesses in India. While the initial plans for any business involve indispensable demands and priorities, protection of intellectual property (IP) is often overlooked, mostly due to the costs involved. However, IP may prove to be a crucial asset for a startup on its road to success.

intellectual property protection
Ritika Agarwal
Associate
LexOrbis

A preliminary search for IP assets such as patents, trademarks, copyrights and designs can give entrepreneurs an idea about the chance of success for their startup and its underlying business model. For example, if a similar patent, trademark, or design, which forms the key basis of the business model already exists, the entrepreneur is in a better position to evaluate the business model and ascertain whether a modification is required to avoid future conflicts. They can then decide on the amount of investment to be made, or whether to go ahead with it at all.

The protection of IP assets may also save a startup from future conflicts and litigation, creating legal security for its business and allowing it to channel its resources towards business development. Entrepreneurs often ask IP attorneys about protecting their “business ideas”, which is not possible. However, a well-planned IP protection strategy may be one way to successfully protect their business models from being copied.

You must be a subscribersubscribersubscribersubscriber to read this content, please subscribesubscribesubscribesubscribe today.

你需要登录去解锁本文内容。欢迎注册账号。如果想阅读月刊所有文章,欢迎成为我们的订阅会员成为我们的订阅会员

Ritika Agarwal is an associate with LexOrbis.

intellectual property protection

LexOrbis
709/710 Tolstoy House15-17 Tolstoy Marg
New Delhi – 110 001India
Mumbai | Bengaluru
Contact details
Tel: +91 11 2371 6565
Fax: +91 11 2371 6556
Email: mail@lexorbis.com
Website: www.lexorbis.com