Why Is This Important? With the company formed and in control of the IP, you want to formally protect it and your ability to build on it in the future. Most sophisticated investors and potential partners will want to be certain that the company has solid IP protection as a condition of investing.
|Key Actions||Things to Consider||Tool Kit|
|Get Letters of Clearance if needed||Be clear on who owns the technology and, more importantly, who doesn’t|
|Obtain additional technology licenses if needed||Does another entity require a licensing agreement for commercial use of a component of your product?
You will need expert legal advice to negotiate the best terms with large biopharmaceutical companies
A bad agreement can prevent you from getting funding
|Convert provisional patent(s) to non-provisional (utility) patents.||Multiple provisional applications can be combined into a single full application at the first provisional 1-year date|
|Conduct a brainstorming session on how to get around your patents and file provisional patents to block those workarounds||If you wanted to re-invent your product, how would you get around your patent?|