Top Five Legal Issues Faced by Startups and Small Businesses
In today’s competitive business world, protecting intellectual property (IP) is of utmost importance. Two crucial forms of IP protection are patents and trademarks. Patents safeguard inventions and technological advancements, while trademarks protect brands and business identities. I. Patents: Fostering Innovation and Technological Advancement — Patents serve as a vital means of protecting inventions and encouraging innovation. A patent grants exclusive rights to an inventor or assignee, preventing others from making, using, or selling the patented invention without permission. By providing a temporary monopoly, patents incentivize inventors and companies to invest in research and development, driving technological advancements across various industries. The process of obtaining a patent involves conducting a thorough patent search to ensure the invention’s novelty and non-obviousness. A detailed patent application, including descriptions, claims, and drawings, must be drafted an...