The underpinning of most technology based startups is the creation of intellectual property (“IP”) in the form of patents, trademarks, and trade secrets (including proprietary designs, software, process recipes, etc.). Yet surprisingly, many technology startups manage this poorly. Management must be diligent in avoiding IP risks, which include:
* Loss of IP rights through failure to obtain proper assignments
* Loss of IP rights through failure to adopt or enforce a lab notebook policy
* Disclosing too much proprietary information in provisional patent applications
* Loss of trade secret rights and foreign patent filing rights through disclosure of the startup’s secrets without an effective non-disclosure agreement
* Breach of non-disclosure obligations through disclosure of a third party’s trade secrets to outsiders
* Misappropriation of the trade secrets of others, especially prior employers
* Infringement of patents and trademarks owned by others
* Having to change the name of the company or its products after brand equity has been built up, due to trademark infringement
To read the full, original article click on this link: Thrice Around the Block: Intellectual Property Creation and Startups
