No matter how good your ideas, unless your start-up protects its Intellectual Property, you may find all the work and cost of developing an innovative product fails to translate into a successful business.
Without protected Intellectual Property (IP), any idea is open for copying by those with larger resources. Large and established companies have the market power to swamp an unprotected start-up, and often the research abilities to reverse engineer any IP kept as secret “know how”. IP protection is vital to the growth of any start-up hoping to develop into a successful business.
Securing IP can be a large expenditure during early business growth; however, we understand the pressures and priorities that start-ups face and so offer transparent, fixed cost and stage payment packages for protecting your IP and the success of your business.
The Valley of Death
During the early years of a start-up the combination of: limited start-up capital; expenditure on product development, production, and marketing; and a lack of an established revenue stream; can leave a business vulnerable to collapse. The period between initial funding and profitability is commonly known as the Valley of Death.
Venturing across and surviving the Valley of Death requires careful management of expenditures and it can be easy to succumb to the temptation of leaving the consideration of IP to a later date when a business enters profitability. However this is often too late, and the lack of appropriate IP protection can result in profitability never coming.
IP Rights and their Benefits
Expenditure on IP is not just a means of keeping competition at bay. It can also be a valuable asset as IP rights can be licenced or borrowed against, and can instil confidence in investors and business partners for generating further funding. Additionally, IP rights can be sold therefore providing businesses with an exit strategy.
Where can we help?
To help you balance the financial pressures during the early stages of a start-up company and to give you financial certainty while putting in appropriate steps to secure your Intellectual Property, we offer transparent, affordable, and bespoke services to meet your financial needs. Our services include fixed cost options or variable cost options. Our payment plans include the possibility to spread out the cost over time with staged payments.
Government schemes such as Innovate UK offer funding for companies that develop new innovative technologies. An important aspect of securing such grants is an accurate appraisal of the cost for securing any IP generated from a project. Our attorneys can assist you in preparing funding applications and help you reach your milestones when funding is secured.
Our Attorneys are experienced in a wide range of technologies and also maintain a network of business advisors so as to support you and your business in reaching its potential. We welcome all enquiries.