In order for a startup to succeed in its business, it is imperative that it understands and protects its intellectual property rights.
To protect itself from unwarranted litigation or legal action, any startup needs to confirm that it is not violating the intellectual property rights of others while embarking on any venture.
In addition, startups should be proactive in pursuing and protecting their intellectual property for a variety of reasons, including improving the valuation of the company, generating better goodwill, protecting its competitive advantage, using intellectual property as a marketing edge, and utilizing IP Rights as a revenue stream through licensing.
During the early stages of a startup venture, it is important to focus on the following areas of intellectual property rights, which are of paramount importance:
The plaintiff, in this case, is Toyota Jidosha Kabushiki Kaisha and they seek to prevent the defendant, a spare parts supplier by the name M/S Prius Auto Industries Limited, from the usage of the trademarks- “Toyota”, “Innova”, and “Prius”. According to the finding of the court, two of the three trademarks mentioned, namely Toyota and […]
Intellectual property rights create a situation in which the inventor or the creator enjoys full ownership and rights to commercial exploitation of his creation while everyone else is excluded. The justification is that such a creation, if it has material value, must benefit the creator while preventing others who would otherwise commercially exploit the concept […]
WIPO defines copyright as the right of creators to ownership of their creations and to make use for commercial or other purposes. Copyright today covers literary creations, printed material, computer programs, data, audiovisual media, dance, paintings and drawings, photographs, sculpture, architecture, ad material, technical drawings and others that are the outcome of intellectual effort. From […]