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Intellectual Property (IP) is the top key differentiator for startups, as identified by the Startup Genome Project. It can also be more complex than you think; IP protection includes your processes, software, names, logos, customer lists and websites, and it is imperative that business owners understand the reality and importance of protecting themselves. Why should you consider IP protection? The more successful you are, the greater the need to protect yourself. If you believe your invention is novel and will be successful, plan on being sued or infringed upon. If you are raising money, IP is one of the first things investors will want to understand. If you have raised money, you have a responsibility to protect your investors and shareholder value. You have a greater likelihood for additional investment and more exit path options if you protect your invention. Read more: “If you build it, they may steal it” – Ernst & Young Global Center for Entrepreneurship
If you build it, they may steal it
By Craig Alberino and Damion Hankejh
Intellectual Property (IP) is the top key differentiator for startups, as identified by the Startup Genome Project. It can also be more complex than you think; IP protection includes your processes, software, names, logos, customer lists and websites, and it is imperative that business owners understand the reality and importance of protecting themselves. Why should you consider IP protection? The more successful you are, the greater the need to protect yourself. If you believe your invention is novel and will be successful, plan on being sued or infringed upon. If you are raising money, IP is one of the first things investors will want to understand. If you have raised money, you have a responsibility to protect your investors and shareholder value. You have a greater likelihood for additional investment and more exit path options if you protect your invention. Protecting your invention with a patent does not have to be expensive, initially. The key is to start early. Maintain an evidence package. Keep all of your notes. Take pictures of all white boards. Keep hard copies of critical notes and pictures in a secure place. We also suggest having a digital copy for easy sharing with attorneys, backup and cataloging the vast amount of information you are likely to develop for your invention. Research existing patents in your area of invention – consider using Google Patent Search (https://www.google.com/patents/) or a similar patent search. We suggest writing a white-paper and filing a provisional patent. This can be done with or without an attorney - although we recommend using a patent attorney as soon as your budget allows. Because patents are granted to individuals, not companies, it is crucial to get IP assignments from all inventors AND get non-disclosure (confidentiality) agreements from all parties that you plan to disclose confidential information to. If you are not using an attorney, you can find IP assignment and NDA agreements at Ingk Resources (http://ingk.com/resources). Recap of next steps: Research competitive or synergistic patents Gather notes and evidence package Create whitepaper. Include key diagrams, pictures of whiteboards, etc. File provisional patent in US - http://www.uspto.gov/ File a Patent Cooperation Treaty Application which provides a unified procedure for filing with 146 participating countries- http://www.wipo.int/pct/en/treaty/about.html Engage patent attorney Helpful resources: What Start-Ups Need to Know About Protecting Intellectual Property Around the World 10 Ways to Protect Your Intellectual Property Learn more about Craig Alberino, Damion Hankejh and Ingk Labs >> About Craig Alberino, Partner For more than 20 years, Craig Alberino has helped companies implement innovative strategies that produce transformative business success. Craig founded Ingk Labs in 1996 and launched InstantService, the first carrier-class Internet telecommunications platform for live-agent customer service, which was acquired by Oracle in 2011. Craig has worked closely with angel and venture communities through his work with the New York New Media Association and its Venture Downtown and Angel Investor programs. He began his career in management consulting in the early 1990s advising Fortune 500 companies on business strategy, intellectual property, and marketing.
Contact Craig at:
Damion Hankejh has founded, invested in, and advised startup ventures for more than two decades. Under his direction, Ingk Labs developed and deployed InstantService, the first carrier-class Internet telecommunications platform for live agent customer service. Oracle acquired InstantService in a $1 billion rollup. He began his career as the only non-degreed prodigal teenager in the research and development lab at HP. He later built bleeding edge telemedicine/robotics and enterprise software startups into profitable companies acquired by industry leaders. Damion's career has been anchored by his depth of experience in intellectual property litigation.
Contact Damion at:
Ingk Labs is a New York City-based IP accelerator that acquires, invests in, builds, and deploys early stage, disruptive technologies that demonstrate high-growth potential for innovation in our target markets. We follow an intensive 90-day program model, culminating with a fully functioning portfolio venture, premised on a fundamentally different approach to IP acquisition and development to define both a product and a successful business model. The exchange of hands-on experience and know-how at Ingk Labs fast-tracks ideas into solutions that help high-growth companies approach the social Web in new, product-centric ways.
About
101 Fifth Avenue, New York, NY 10003 [ map ] Ingk Labs IP Acceleration Model Getting beyond that “Eureka!” moment takes more than mere imagination. The Ingk Labs IP acceleration model lays the foundation for taking promising IP from concept to company. Our 90-day program is designed to define both a product and a successful business model. The cycle culminates with a properly capitalized, protected portfolio venture that is ready to attract follow on funding, an acquisition partner, or operate as a standalone company. Ingk Labs startup teams rapidly refine an IP prototype and build a path to profitability based on a well defined 3-step process.
Our mission is to rescue dormant IP and transform it into properly capitalized, protected portfolio ventures within an aggressive time frame. Our view of technology is different in that we believe IP can come in non-traditional forms. Ingk Labs saves underleveraged IP from non-practicing entities or ‘patent trolls’, as well as nascent ideas from the intellectual graveyard. Underdeveloped Existing IP / code base that is not fully developed and/or effectively deployed (including distressed companies in need of resources) Intellectualized An idea yet to be fully designed or built, and thus underleveraged IP |
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By Damion Hankejh and Craig Alberino
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| The text being discussed is available at http://ingk.com |