Patents can add real value to an innovative venture – they not only increase both the speed and amount of VC funding but also can help stave off competition both in India and abroad.
Many successful Indian start-ups, including Flipkart and Makemytrip, have filed and obtained patents in India for their technology. This article discusses some patent dos and don’ts that an entrepreneur must keep in mind:
- File for a patent before publicly disclosing your invention
- If your employee works on an invention, make sure you have the invention assigned to your company
- File for a patent early
- Not every invention may be patentable but a patent lawyer can help you identify those inventions which qualify
- Patents give territorial rights
- Don’t use patented technology without a license
- Announce your patent rights
Authored by Aditya Gupta.