Mariya Ortynska joined a panel at New York Tech Week, expanding on protecting various intellectual property objects for med tech startups as a speaker. This year, the theme was AI & Flexible Biosensors/MedTech, and Mariya explained how startups can build a strong intellectual property portfolio. She emphasizes that it is essential to think of it from the very beginning:
“Startups often think ‘patents first,’ but trademarks, copyrights, and trade secrets play a critical role in protecting as well”.
Proper registration and maintenance of the trademarks secures the brand and helps prevent costly conflicts. It is important to understand the difference between the name of the legal entity, DBA (doing business as), and the trademark, as these serve different purposes for conducting business. A trademark is a specific mark that identifies your goods or services, and it is the trademark that consumers remember and choose.
Registering the copyright protects the software code, databases, and marketing or educational content. However, it is the expression of the idea that can be copyrighted, not the idea/concept/discovery itself.
R&D, customer lists, business models, and know-how can be protected as trade secrets. Having an NDA is a great first step, but it might not be efficient enough. Trade secret protection combines different measures, including identification, contractual measures (NDA and non-disclosure clauses, NCA), labeling, educational, and cybersecurity measures. There are also certain requirements on trade secret protection, including that the company must have taken reasonable measures to keep such information secret, and the information shall not be: generally known to the public; readily ascertainable through proper means by the public.
You can also be interested: Trade Secret Protection: Strategies from an Attorney
To conclude, it is beneficial for startups to build their IP portfolio early, maintain clear and consistent documentation, and pay attention to different IP rights to cover various aspects of the business properly.
Managing Attorney Mariya Ortynska is dedicated to helping startups thrive. On the Ortynska Law website, you can book a consultation with Mariya to build a business-oriented strategy on how to protect your intellectual property portfolio.