Patents: how and why to get them
As someone who has multiple startups.<p>Here are the main benefits of patents:<p>1. Helps in IPR negotiations. When multiple startups are competing in same space and poaching same employees, highly likely your tech will end up being similar to your competitor. Maybe some of the processes are exact copies. Then if you&#x27;ve no patents and you get sued, good luck defending yourself.<p>We solve it by creating landmines of patents around our actual application. So, that if we end up infringing someone else&#x27;s patent, we&#x27;ll be able to find some of their infringement then negotiate the settlement.<p>If you&#x27;ve nothing, you can&#x27;t defend and your settlement will not be something in your favor.<p><i>Conversation with competitor</i>: Mate! you violated my patent X and I violated your patent Y, we&#x27;ll get nothing out of the legal battle, the damage is of the same amount. Why not stay quiet and keep the lights on? Who doesn&#x27;t love peace?<p>2. Patents in employee&#x27;s name often boost their confidence (if not their wealth). So, you get some productivity boost from their motivation.
Sometimes, it&#x27;s like keeping a score for them and we payout enough to host a memorable dinner with their family.<p><i>Conversation with Self</i>: You know like I&#x27;ve 15 patents under my belt already and 5 more pending. I am an expert already I think. Everyone will be proud of me.<p>3. Keeping new entrants out.<p><i>Conversation with Self</i>:  Oh, it will be expensive to navigate this patent landmine, so let&#x27;s choose some other niche&#x2F;industry for my new startup idea.