Brand Story
20 Jan 2021, 09:46 GMT+10
When young companies decide to hire patent counsel, there can be a bewildering number of choices. The level of experience that company principals bring to the table bears heavily on the decision of which counsel to choose, as it should. And success with a particular attorney in the past leads to a tendency to choose that attorney or firm in the future.
First-time innovators are faced with important decisions in choosing a patent attorney, but have less experience with which to inform these choices than would a seasoned C-suite starting an nth venture. However, many of the decision criteria are the same for a company with relatively little experience in developing and managing an intellectual property portfolio and an experienced team that has already lived at least one start-up-to-exit life.
Cost is always a priority, but especially for new companies that are still self-funding and seeking funding. However, it should never be the first criterion. Potential clients should think about:
Outside counsel patent attorneys have a unique dual role in working with young companies. That role can be both challenging and very rewarding. The sense of accomplishment when the company takes off and long-term collaborations result in success is really special.
As a recent and very exciting example, Martensen IP client Nuvia, Inc. has been acquired by Qualcomm in a $1.4B deal. Partner Barbara Courtney, who resides in Silicon Valley, has had long relationships with Nuvia technical folks going back to their respective previous companies, which led to our engagement with Nuvia. Our mission was to understand the company's valuable patentable innovations and turn them into intellectual property assets in a short period, while at the same time understanding budget constraints and the company posture in the marketplace. We're pleased to have achieved that objective and offer our sincere congratulations to Nuvia!
About Martensen IPAt the intersection of business, law and technology, Martensen understands the tools of IP. Martensen knows the business of IP. We understand the tech market, especially when the government is a customer, and we know how to plan, assess, and adjust. Patents, trademarks, copyrights, trade secrets, licenses are our tools.
Martensen IP Media ContactMike Martensen | Founder(719) 358-2254
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