Invention to Commercialization of Innovation: IP as New Value Driver for Sustainable Start-Ups in India

Abstract

The business strategy is intricate. Intangible assets, such as intellectual property, make up-to 80%–90% or more of an organization's commercial assets in the modern knowledge economy. At the start-up stage, the IP might nearly reach 100%. Start-ups trying to come up with a winning plan without considering intangibles and IP often ends up producing an unfortunate approach. There are many ingredients for the successful establishment of a start-up. One important ingredient that contributes to success of start-ups is IP. Some startups claim they are too tiny, or that they don't have enough funding or other resources. Some startups think that patenting inventions is unnecessary and instead choose an open-source strategy. Some people might want to protect their invention as trade secrets. It's possible that some startups think all it takes to succeed in business is to move quickly and get there before competitors. So what exactly is IP's strategic function for start-ups? This article examines IP as a significant value generator for start-ups. All businesses irrespective of their sizes will in due course have to deal with IP issues, but start-ups and the partners they work with have special opportunities and challenges when it comes to IP management. Many start-ups sense the complexity of IP management and therefore place energy elsewhere. However, this article is an attempt to draw IP management strategy for the startups in India.