GoToMeeting speaks with patent agent Gustavo Marin about why even small startups should make patents a priority. | Try GoToMeeting for free:
For cash-strapped startups, patents may seem like a luxury that only established Silicon Valley companies can afford, but they’re an expense that even small companies shouldn’t skimp on, explains United States patent agent Gustavo Marin.
“The biggest myth about patents is people say if you don’t have the financial wherewithal or legal means to defend your patent, then you shouldn’t get a patent,” says Marin. But in reality, he explains, patents can help protect your intellectual property even if you don’t have a world-class legal team backing them up.
“There are really three main reasons to get a patent,” he says. “The first is freedom to operate. That means you have a patent and other people who have patents in the same area can’t stop you from doing your business. The second is corporate value. Investors want companies with patents because that is a tangible asset that can be sold or licensed, and the third is to exclude others.”
Startups may try to cut costs by preparing their patents themselves, but that too could prove costly in the long run.
“There are a lot of Supreme Court cases, a lot of legal items that need to be considered, so when a startup decides to patent something they really need to do it right,” Marin says. “They need to hire a professional that understands the nuances of getting patents, particularly when it comes to technology patents.”
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