Question
As a startup operating on seed-level funds we are often surprised by VCs who ask us about our IP protection. We are developing a technology that would be deployed internationally, so of course investors ask us how well we can protect it on a global level. But, if a patent in US+Canada alone already costs thousands of dollars to obtain, how can we manage international protection without going through a big funding round first? Seems like a chicken-and-egg sort of problem. I guess this is hardly a new problem so I would really appreciate your input and experience on what would be the best strategy for this! Thanks, Laura.
Answers: 4 public & 1 private
I concur with Steven but the bottom line is that seeking international patent protection will require careful planning with a patent attorney and will require a decent amount of money just like many other aspects of a startup. However, the costs of securing patent rights are small relative to other aspects of starting/growing a business, and these are often essential costs. Most companies in the tech space have little to no value without strong IP protection. Meet with a patent attorney ASAP because it is very easy to lose all foreign patent rights by doing things in the US that bar a patent application abroad.
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