Importance of intellectual property when launching a new software innovation

Well, it depends on the type of innovation and the product. For example, there is a mobile game that has a character from a new movie. For a few months, that game may be affected, but then sometimes it is expected to fade quickly. Therefore, inventions based on movement or actions of a specific nature may not be valid even if they are patentable.

For other products, the patent plays an important role. In the 1980s, SPC (Software Publishing Company) had the leading presentation software called ‘Harvard Graphics’. Harvard Graphics is very popular for conferences and presentations. Especially for people doing business, this software was the standard for lectures and conference room presentations. It costs about a hundred dollars on floppy disks. Although there were many other presentation software programs at the time, Harvard Graphics was the market leader.

After that, Microsoft developed a similar program that wasn’t as good at the time as Harvard Graphics. It is now known as powerpoint. However, Microsoft bundled its word processor and spreadsheet programs along with the point of PowerPoint. This package turned out to be a Microsoft office. And it’s the same price as a copy of Harvard Graphics. Microsoft finally killed Harvard Graphics. Not only that software but also SPC and many other companies. At that point, competing directly against Microsoft had become nearly impossible.

After that, the courts recognized software patents as permissible subject matter. By the late 1990s, software companies like Adobe, Autodesk, and Intuit were able to protect their innovations with patents and began to grow and flourish.

Software intellectual property protection has played a crucial role. It leads to the growth of competition in the field in the last two decades.

Development of innovation related to software

Start-ups or companies developing software-related innovation need to answer these questions if they want to create strong intellectual property protection:

  • Why do people buy your product or service?
  • What is it about the particular product that is driving customers to write a check?

Well, it’s not about the technology, but about a unique experience that the buyer gets when using your product.

The right way to think about getting patent protection for software

Software is something real, useful and important. Don’t just think of it as software. Well, customers are looking for more innovative things that solve their problems.

The purpose of the patent system is to promote and protect the invention. Any invention that is new, useful and non-obvious is patentable, except the secrets of nuclear weapons, the laws of nature, etc.

Startups budget for their IP portfolios

The need for intellectual property depends on the nature of the startup. Opening a pizzeria in Detroit may decide to trademark their name and leave it at that. On the other hand, a venture capital-funded tech startup needs a monopoly patent portfolio right away to protect its market from competition.

So consider them:-

  • Have a vision of where the company is going.
  • What goals would be achieved by investing in intellectual property protections?
  • When cash is tight as it is with most start-ups at the start
  • Have a roadmap to focus investment solely on IP.

conclusion

Non-strategic investment is just wasted money. The most valuable IP tool for any startup or for any company is an IP roadmap. Two of the many great benefits of being a startup are:

1. there is a total absence of historical baggage

2. The possibilities for unimaginable success are endless.

But no one will start a journey without having a clear designation or roadmap in mind. Similarly, if a company’s IP ‘strategy’ is simply to collect patents at random, then all the company will have is a box full of random patents.

If you want to build a true monopoly and want to protect the unique experience that keeps customers engaged, then it’s essential to start with an IP monopoly roadmap of where you’re going and how you’ll get there.