Innovative Dallas IP Attorney Reveals 5-Step Guide to Help Entrepreneurs Protect Their Big Ideas
As corporate America continues to downsize, small businesses and start-ups have picked up the slack. Today, small businesses employ nearly half of the U.S. workforce, and popular T.V. shows such as “Shark Tank” and “The Profit” fuel the fires of aspiring entrepreneurs who hope to make it big. “Unfortunately, many entrepreneurs don’t take the steps necessary to successfully protect their big ideas,” Klemchuk says. In his new article, 5 Vital Steps Entrepreneurs Must Take to Protect Their Big Ideas, Klemchuk, founder of Dallas intellectual property law firm Klemchuk LLP, offers helpful insight on topics including patents, copyrights, trademark protection and overall business strategy.
Regarding patents, Klemchuk says, “I get it, you have a great idea, but cash is tight right now. However, are you willing to forgo getting a patent and risk someone with plenty of cash taking your idea and fast tracking it to market? Failing to get a patent isn’t something money will fix later.”
Entrepreneurs should also focus on executing their business strategies with precision from day one. According to Klemchuk, “One of the biggest reasons new businesses fail is when entrepreneurs fail to execute or manage a company well. Many of the people who get shot down on “Shark Tank” don’t get a deal for that very reason.”
Klemchuk also encourages entrepreneurs to assemble a solid team and not stretch themselves to thin. “Hire the best you can afford when you secure financing, so you have time to focus on the areas of the business where you excel the most,” he says.
About the Firm:
Klemchuk LLP is a litigation, intellectual property, transactional, and international business law firm dedicated to protecting innovation. The firm provides tailored legal solutions to industries including software, technology, retail, real estate, consumer goods, ecommerce, telecommunications, restaurant, energy, media, and professional services. The firm focuses on serving mid-market companies seeking long-term, value-added relationships with a law firm. Learn more about experiencing law practiced differentlyand our local counselpractice.
The firm publishes Intellectual Property Trends (latest developments in IP law), Conversations with Innovators (interviews with thought leaders), Leaders in Law (insights from law leaders), Culture Counts (thoughts on law firm culture and business), and Legal Insights (in-depth analysis of IP, litigation, transactional, and international law).