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Re: [newtech-1] Patents on Code

From: Alyssa M.
Sent on: Tuesday, March 19, 2013 9:47 AM
Brain,

Having a patent can be attractive to investors and helps the valuation of your startup. However, not all businesses have IP that can be patented and if they do, it can still be a long and expensive process (even with provisional patents). 

If your business is based on something tangible that can be patented (and there are different types of patents so it's not a simple answer), you should definitely seek the IP protection. On the other hand, if you don't get the patent, then you focus your pitch on the things of your business that are unique, your strategy for going to market, and other aspects of your business that bring value.

In terms of the trademark, that is easy to do and something that you should pursue. The filing fees are under $400 and it will protect the name of your company. It's important to have but won't offer you the same value in your valuation or the same protection that a patent would. (word of caution: if your name is subject to very similar to another name in a similar industry so that it would cause confusion or very common, you may have a hard time getting a trademark for it).

Hope that this helps.

Alyssa

On Mon, Mar 18, 2013 at 11:55 PM, Brian Mannix <[address removed]> wrote:
Hi everyone, am a new business and we are starting to pitch for funds and everyone is asking me if we have a patent on our code and trademark on our name.  

Anyone have any advice for the patent side of things--how necessary, at what stage you need it and how much it will cost.

Thanks in advance for any help.

Sincerely,

Brian 




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