IPR should be top of mind for any venture

More companies should be attentive to the differences intellectual property rights (IPR) hold as a beneficial commercial tool used to increase the company’s value. Plougmann Vingtoft aims to help startups well on their way with the annual IP Matters donation.

Innovation is thriving in Denmark, but the competition is tough, especially when you look outside the Danish borders. However, many companies do not prioritize IP rights, but it should be considered an essential part of the business strategy.

“Many underestimate how easy it is to copy an idea if it is not protected and many see patents and trademarks as an expensive process, which can either be postponed or is entirely unnecessary. Nonetheless, the fact is that if a company does not own the rights to its ideas, it is rarely worth much,” says Finn Strøm Madsen, CEO at Plougmann Vingtoft, a consulting firm specializing in the protection and commercialization of intellectual property rights.

A commercial tool

When prioritizing IP rights, you get the possibility to use them strategically. Therefore, Plougmann Vingtoft has an in-house technology transfer office (tto), which specializes in value generation from new technologies and IPR. The tto team works with a broad variety of clients ranging from universities, private companies, and startup companies to public institutions, and investors.

“IP commercialization means turning ideas into business by transforming an idea or invention into a product or ser- vice that can be marketed or licensed. In other words, IP rights are a commercial tool that companies can use strategically

IP Matters Donation

The IP Matters donation of IP consulting worth DKK 50,000 is awarded to one or more startups every year. So far, it has been awarded seven times. All applications from Danish startups working towards one or more of the UN‘s global goals are considered. Applications can be sent all year round via (deadline 31 august): www.pv.dk/about/ip-matters to create a healthy business and ensure future competitiveness,” Finn Strøm Madsen explains.

The

IP Matters donation supports sustainable ideas

In recent years, the UN’s Sustainable Development Goals (SDGs) have formed the foundation for many new companies built on good ideas, which need protection in order to grow. That is why Plougmann Vingtoft organizes the annual donation “IP Matters” in collaboration with the investor network, Danish Business Angels (DanBAN). Every year, IP consulting worth DKK 50,000 is donated to one or more Danish startup companies that work with the UN’s SDGs.

“We cannot save the world with IP consulting. But we can make sure that the talented, Danish entrepreneurs, who are introducing sustainable solutions, get the support they need to turn their idea into a successful business. That is exactly what they will get from this donation,” Finn Strøm Madsen concludes.

Why do IP rights matter?

IPR Protect Important Details

Sometimes it makes sense to apply for IP protection even though the invention is not all new. Small innovative details make all the difference.

IPR Attract Investors

IP rights are the investor‘s assurance that there is value in the company and that it is tied to the company and not individuals.

IPR Should Be Part Of An EarlyStage Business Strategy

It may take several years before a patent is approved. Therefore, IP rights should be considered at an early stage before the company publishes its products or services.

Find a list of all the stakeholders in the ecosystem in the appendix on page 80-83