Patent ownership increases a startup's chances to receive venture funding by over 50 percent.1 However, determining if, when and how to patent a startups ideas can be challenging, especially for the vast majority of startups not having legal counsel. The lean nature of most startups can feel antithetical to the idea of spending thousands of dollars to protect an early-stage idea. Even so, the data speaks for itself - patent protection is a must-have for early-stage tech startups seeking venture backing. This article provides seven tips for protecting a startup's ideas without compromising a lean business model.
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