Question
When presenting to Angels and VCs, how should we include IP protection into the "use of funds". Patents and Trademarks can be pretty costly, I guess. How can we come up with some outlook or good-enough predictions on this? If we need lawyers for this, is there a way to keep the costs low before funding?
Answers: 1 public & 0 private
As an inventor, you are allowed to self-file a patent application. File a PROVISIONAL application yourself. It will be valid for 365 days. Google around a bit or read a short book on self filing, then describe your invention as precise and accurate as you can. Don't try to make it sound like legalese.
File your provisionals. Now you have "patents pending".
Get your funding.
As soon as you have your funding, get a patent agent who is an expert in your field and who likes what you do, and get him / her to make a proper write-up of your applications, then refile the provisionals. At this time, you are starting to pay seriously. A patent agent is often less costly than a lawyer, and may have more domain knowledge. A patent lawyer is better if you expect a lot of legal fights. In practice, if you hire a patent lawyer, chances are the work is still done by a patent agent.
Then, at day 364, file non-provisional applications.
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