IP (Intellectual Property) strategy protects your competitive advantage. Four types of IP protection: (1) Patents — protect inventions (20 years), (2) Trademarks — protect brand names/logos (renewable indefinitely), (3) Trade Secrets — protect confidential business information, (4) Copyright — protects creative works including software code (automatic).
For medtech startups, patents on the device/algorithm + trade secrets on training data + trademark on brand = comprehensive IP protection.
Key Takeaways
- Patents protect inventions for 20 years.
- Trade secrets protect confidential info indefinitely.
- Provisional patents buy 12 months at low cost.
- IP strategy should combine multiple protection types.
Frequently Asked Questions
Which IP protection is most important for an AI-powered medical device?▼
Answer: Patent on the algorithm + trade secret on training data
Patent the novel algorithmic approach. Keep training data as a trade secret (it can't be patented but is extremely valuable). Together they create a strong moat.
How long does a patent last?▼
Answer: 20 years from filing
Patents last 20 years from the filing date, after which the invention enters the public domain.
What's the main advantage of trade secrets over patents?▼
Answer: Trade secrets never expire and don't require public disclosure
Patents require public disclosure and expire after 20 years. Trade secrets (like Coca-Cola's formula) last indefinitely — as long as you maintain secrecy.
A provisional patent application:▼
Answer: Establishes a priority date for 12 months at low cost
A provisional patent is a placeholder that establishes your filing date (priority date) for 12 months, giving you time to develop the invention and file the full patent.