The Startup Patent Dilemma

“I need a patent to get investment, but I need investment to get a patent!”

This is something I hear quite frequently when I meet people involved with very early stage technology businesses, or those with aspirations to start a business. 

My first response is usually to commend them on the fact that they are considering an intellectual property (IP) strategy at this point. As many readers will know, patents are time-sensitive. Most jurisdictions, and all the popular ones, now grant patents on a “first-to-file” basis, rather than “first-to-invent”. This means the first one to file a patent application to an invention is the one able to get full patent protection. Therefore, early consideration of patentable IP can be decisive.