Importance of Patents for Technology Companies & Startups In Asia
Tech startups and companies that are aimed at generating high value business generally consider patents a crucial asset that can make or break the business. At present, almost all market sectors are crowded with close competitors who are indulged in close fights to capture majority of market share as their valuations are at stake.
Investments Resulting in High Valuations of Tech Startups
Due to huge influx of investor money in term of angel investment and venture capital financings, early stage technology companies and startups have been able to fill up their war chest with millions (or billions) of dollars. However, at the same time, such companies face eminent risk of losing out on patent process as they are hyper aggressive in launching the products (and improvements).
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Filing A Provisional Patent Application
As per patents laws across major jurisdictions, including US, EU and Asia Pacific, a patent application (provisional or complete / non-provisional) has to be filed before first public disclosure. Consequently, it is common strategy to begin the patent process by filing a provisional patent application first, followed by public launch of the product, and subsequently filing non-provisional (complete) patent application within 12 months of earliest priority date.
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