During our current fundraising round we decided it was time to develop a comprehensive IP strategy. Why? Because in our fundraising round we are disclosing information to people in the startup ecosystem…ppl that can or know people that can develop things quick. Thus, necessity has brought us to realize we need more than development speed, a talented team and traction.
The next logical question is “do it ourself” or IP attorney? What is the cost and benefit of each? We contacted our lawyers at WilmerHale to make use of our free IP session with a domain expert that is part of our engagement agreement and thus far we did not take advantage of.
Learning point 1: consult your lawyers from the get go to learn about basics and incorporate them when actionable. Be proactive and not reactive.
Today, I have a meeting with Carr & Ferrel for a free consultation session. They were referred by an interested investor.
Learning point 2: Most lawyers, give free consultation sessions in the US. Make use of that. Do your homework and use the time to ask specific question that give you valuable insights and not just “hey, whats a patent?”
I also read some interesting article and blogs on the topic. It is amazing what is out there. Some interesting articles:
Intellectual Property for Startups – from Ernst and Young (nothing ground breaking but just good old useful basics to get us thinking)
Lastly, I read through the Amazon.com kindle books available on the topic. I opted for Patent it yourself based on its positive reviews, completeness on the topic (covers everything patent related) and recentness (patent laws changes every year so date of publish is critical).
If anyone has helpful advice please share with us in the comments.