Why Do Startups Need A Patent? Understanding Patent Protection For Innovators

Introduction

Most founders think about patents only after a competitor launches something that looks suspiciously familiar. By then, the opportunity to establish an early priority date may have narrowed, and the leverage that a well-drafted patent application or granted patent can provide in a funding, licensing or commercial negotiation may be reduced.

This startup patent guide is intended for the earlier, more useful stage: before the product is launched, when a founder is still deciding whether an invention is worth protecting. Understanding why patent your invention matters, and how to do so under the Patents Act, 1970, is an important legal and commercial decision for a young company. A patent can help protect a startup’s core technology, support licensing and commercialisation, and form part of the intellectual property portfolio considered by investors and acquirers.