There are two key ingredients to the success of a high-tech startup: Sufficient capital and intellectual property safeguards. But getting a patent can be expensive – easily $10,000 to $50,000 or more- making the need for capital even more important as entrepreneurs budget for other expenses too. So, unlike a large established company with its own legal staff and lots of experience maintaining an intellectual property portfolio, startups need a well thought out plan for IP legal services.
Although not as enthusiastic about taking startups as new clients, local experts say law firms in the Rochester area offer adequate IP services. Attorneys here recognize the financial limitations of new ventures and are willing to work within those limitations, often with the expectation that getting in on the ground floor can mean a lucrative business relationship down the road.