Many entrepreneurs (sometimes with their investor’s approval) skip getting patents. Many say that they do not have the $2M of dry powder to enforce their patents, so they just do not play the game.
Patent enforcement insurance is ridiculously affordable, especially for startup companies.
Enforcement insurance means that you have pre-paid legal fees at your disposal any time an infringer pops up.
Besides actually enforcing your patents, having an IP portfolio puts you in a position to negotiate with competitors. We look at a couple examples of how small companies have used their patents to negotiate – without having to go to court.