Patent strategies for biotech startup companies

The present article focuses on the basics of intellectual property protection strategies that biotech startups should adopt for the purpose of competing in the global marketplace. The initial step in the decision-making process for a new invention is determining whether to patent it or maintain its secrecy. This decision is followed by the determination of the optimal timing and location for filing a new patent application. The formulation of claims in an application constitutes a strategic element that must be given due consideration to avert the phenomenon of "design-around" by competitors. For biotech startups, the possession of at least one patent in the portfolio is a crucial asset. This can enhance the valuation of the company and serve as a leverage strategy, facilitating financial investment. The PCT procedure is regarded as the optimal choice for biotech startups, as it allows for the deferral of the costly national phases of approximately 30/31 months following the priority filing. Furthermore, a PCT confers a provisional protection with a broad scope of geographic protection.