5 Reasons Your StartUp Needs a Patent Now

Where’s ‘getting a patent’ on your startup’s to-do list?

If you are like most founders, that particular task might be somewhere between “shop for a company jet” and “ring the opening bell on the New York Stock Exchange”—i.e. pretty far down on the list.

But here are five solid reasons even the newest startups may want to become patent-pending sooner rather than later.

1) Having a patent will increase your chance of getting funded

Approval of a single patent application increases a startup’s probability of securing VC funding by 53%. And when you think about it, that makes perfect sense because VCs want to bet on companies with protected IP.

2) More patents = higher valuation

According to The Allen Institute for Artificial Intelligence, even filing for one or more patents can increase in funding-round valuations by 20% or more.

3) Patents can increase your sales

Startups with at least one patent show sales growth over 50% higher than startups without a patent.

4) Patents can attract employees and increase employment growth

According to the U.S. Patent and Trademark Office, a startup’s first approved patent application increases employment growth over the next five years by 36%.

5) Patents improve your odds of a successful exit

Perhaps the strongest argument for getting a patent sooner rather than later also is this: a successful patent application increases the probability of an IPO by 153% or being acquired by 84%.

So why don’t more start-up pursue patents right away? Up until a few years ago, applying for a patent was an expensive, lengthy process that involved hiring an intellectual property law firm, getting them up to speed on your technology, and then embarking on a multi-month back-and-forth dance with the U.S. Patent Office.

But now there’s an easier way. TurboPatent has developed an AI-based, machine learning PatentBrain™ which their hand-picked patent experts use to draft and file patent applications quicker and with better results. That means instead of $6-10K and several months worth of effort, TurboPatent helps start-ups become patent-pending for about $2,000 (plus patent office fees) and in about half the time (compared to a traditional law firm).

Need a Patent? TurboPatent Can Help

An Alternative to Traditional Patent Firms

TurboPatent is making it quicker and more affordable to get a patent. Let our advanced PatentBrain™ AI plus our team of experienced U.S.-based patent professionals help you with your patent backlog and any other patent needs.

Fewer Touches

Our automated patent process results in better, more efficient extraction and less back-and-forth—which greatly improves turnaround time.

Better Quality

All patent work is done entirely in the U.S. by U.S. citizens using our AI-based system. This results in extremely high-quality documents, free of 112 errors.

How do we do it? USA-Based Patent Professionals Assisted by the PatentBrain™ AI

TurboPatent’s patent professionals utilize the power of TurboPatent’s Automated Invention Protection (AIP) AI-technology to engineer high quality patent documents in substantially less time and with a significant cost savings. Our team of experts captures your inventions, converting them into high-quality, fully USPTO-ready applications, and ultimately into a granted patents.

Like an IDE for developers or CAD for engineering, the TurboPatent Automated Invention Protection (AIP) solution raises the bar for the patent industry, allowing for an extreme increase in quality while greatly reducing cost and turn-around time. The TurboPatent AIP solution leverages AI-based technologies to automate and streamline patent drafting, prosecution, and quality evaluation, enabling our experienced patent professionals to quickly, easily, and cost-effectively patent your inventions.

Questions? Ready to Get Started? We Can Help

We’re happy to answer any questions. To speak with a patent expert directly, call 206-681-9321.