Start-up Ecosystem: Bringing Financial Synergy by Effective Intellectual Property Utilization

Abstract

In the present scenario, starting a new business can be a daunting task and not something for the faint hearted people. There are a multitude of reasons why promising start-ups don’t make it big and suffer a slow death, persistent errors are there that hamper start-ups from the capital raising process to launch, but the most common one’s may surprise you and includes improper management of intellectual property (IP) of the business. The start-ups have various plans for different parts of their optimization strategy, but they miss out on one of the most important aspects with respect to innovation that is the IP rights associated with it, which may be helpful in shaping the future and to give an edge in negotiating with other parties while raising low cost capital. In the present paper, we shall seek to appreciate the importance of recognizing the potential of IP assets, and the importance of a well-thought-out IP strategy, which can be used by the start-ups to utilize their assets at their fullest potential in order to launch a successful business. We shall look into the IP strategies from business as well as legal perspective as to ensure that the start-up is ready to take proactive measures in safeguarding its IP assets to reduce the costs of not taking appropriate action and special emphasis is laid on start-ups seeking expert guidance and anticipating their IP needs as to up their game, and have a better chance of success than the competing firms.