Today, we simply cannot assume that we will be able to wait to file a patent application and everything will be all right!
It is undoubtedly true that inventors and startup businesses are required to do many different things in order to succeed. There never seems to be enough hours in the day. But as per the patent laws, it is imperative to inventors and startups that file first before you disclose anything, demonstrate your invention publicly or offer it for sale. The risk of waiting to file a patent application is simply too great and may forever foreclose the ability to obtain a patent.
Here are the reasons why it is important to file a Patent at an Early stage for Startups:
Bolster Investor support -Venture Capitalists favour big investments in start-ups which have already filed the patents. These give them the confidence that the innovation has got real value and potential.
Early filing protects the date of first to file for any start-ups. As we know, publicizing your invention at any time before filing a patent application could put your intellectual property rights in jeopardy.
Product Development boost - Getting a grant on patents gives a boost to create the product at a much-accelerated pace. Nowadays startups aim for the global market. So, how quickly you go to the market is very important. Startups need to be aggressive in their market outreach plan and this can be facilitated by protecting their patents.
Minimize competition – Getting a patent grant at an early stage helps the start-ups to stand tall among the many players. It also dithers others to do what you are doing as the sword of infringement hang if you have a granted patent.
For any of the Patent filing related queries, send me a text.