Peter and his team educated us on definitions, processes and costs on the issue of trademarks and patents for technology businesses.
The main learning points for entrepreneurs who are developing new technologies or ideas were:
- IP can have different forms: patents, know-hows, trademarks and copyrights
- IP give you the right to exclude others of using your intellectual property. You can use it to keep your competitive advantage, as defensive strategy and as source of money (e.g. licensing)
- Registering a patent could be a lengthy and complicated process (GJE documents below can give you a better idea)
- Explicitly identify in your business plan the aspects of your business that might require IP and addressing the risks and required budget. A careful analysis of the IP issues is highly valued by investors so they can take better decisions on investment and calculate exit strategies
GJE kindly made available to the Tech Club documents to better clarify the Patents and Trademark issue. The list of documents includes the timelines for processing a patent, a guide of costs and a summary of the services offered by them.
You can find the documents here: GJE DOCUMENTS
Their website is www.gje.co.uk