EP #399 - Matthias Kaech & Adrian Riedo: Why IP Protection Matters to Startups
May 5, 2024
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Matthias Kaech & Adrian Riedo discuss the necessity of IP protection for startups, covering topics like trademarks, patents, and global protection. They emphasize the value of early IP planning to impress investors and safeguard innovations.
Ensure confidentiality of tech inventions to protect patents from public disclosure.
Choose appropriate IP protections (patents, trademarks, copyrights) based on company needs for solid startup foundation.
Deep dives
Importance of Integrating an IP Strategy
It is crucial for startups to prioritize and protect their intellectual property (IP) rights from the beginning. Startups need to integrate an IP strategy into their research and development as well as business strategies to avoid jeopardizing potential protections. Making conscious decisions about using patents, trademarks, designs, or copyrights is vital. Startups should analyze their products to determine which IP rights best protect their competitive advantage.
Initiating IP Protection in R&D
Taking initial steps for IP protection during the research and development phase is essential. Startups should consider trademark registration early on, which is relatively easy and straightforward. When it comes to patents, startups may face challenges in deciding whether to pursue protection due to factors like costs and perceived ease of circumvention. Consulting experts and conducting due diligence can help navigate the complexities of IP protection.
Relevance of Different IP Rights for Startups
The most relevant types of IP rights for startups depend on their products, resources, and strategies. The choice between patents, trademarks, designs, or copyrights hinges on the nature of the product and competitive advantage. For technical solutions, patents are critical, while trademarks are essential for services. Software and apps benefit from copyright and trademarks, whereas luxury products may require design rights. Analyzing products to determine the most suitable IP rights is crucial for protection.
Challenges Faced in IP Protections
When protecting IP, startups may encounter challenges such as trademark disputes and refining patent claims. Resolving trademark issues with similar company names through legal counsel is vital. Defining patent claims accurately and safeguarding innovations from public disclosure are significant challenges. To navigate these hurdles, startups should seek legal advice and ensure confidentiality to prevent infringements and maintain IP integrity.
This episode was produced in collaboration with startup days, taking place this year on May 30th 2024. Click here to purchase your ticket.
About Matthias Kaech & Adrian Riedo:
Adrian Riedo is the founder and owner of RNX, short for Riedo Networks, a provider and distributor of energy monitoring and control solutions which began back in 2005. Matthias Kaech is a Senior IP Trainer at the Institute for Intellectual Property.
Matthias and Adrian have a few IP recommendations for startup founders:
Never discuss (the intricacies of) your (tech) invention in public. Once the information is leaked, your patent may be ruined;
Look into the different types of IP protections and figure out which one is best for your company: patents for tech, trademarks for services, copyright/trademarks for software/apps, design rights for luxury products, etc..
If you want to file for a trademark, the only register you have to be in is the National Trademark Register. Any other registers that contact you are private registers, and you’re not required to be listed on them, so don’t waste your money;
Figuring out IP protection early on will give investors a positive view of your startup, partially because they know your product/service is protected, and partially because they see you took the trouble to make sure you had freedom to operate, and this shows competence;
You have to apply for IP protection in each and every country. As a resource-constrained startup, you should think about which countries are your main markets and where your main competitors operate, so that you don’t waste money.