This series addresses a hypothetical, startup biotech company called BioTech that was founded by Joe Smith in Princeton, New Jersey. The previous articles discussed Joe’s early days in creating a startup, the law surrounding private placements of securities and documenting the offering. They also covered the research and development stage and basic R&D contract agreements. This article will focus on protection of intellectual property.

After Prototype Completed

Biotech has applied a portion of the $5 million raised in its private placement to the creation of a working prototype of a prosthetic limb. The technology and methods for this product are unique and valuable. Before he goes to market to sell the product, Joe must protect this intellectual property (IP) from theft and misuse. Joe needs to file a patent and look at other forms of IP protection.

Patents

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