The USPTO rolled out an expansion of its IP Identifier tool and new Startup Certification Training Course last fall to help entrepreneurs learn about the patent process.
“We want to help equip all startups, small businesses, and entrepreneurs with the resources and knowledge they need to manage and protect their IP, secure the right kind of funding, and grow their businesses,” said Kathi Vidal, under secretary of Commerce for Intellectual Property and director of the USPTO. “Our IP Identifier and Startup Certification Training Course provide practical information and useful tools for their innovation journey. I encourage anyone considering starting a business or growing one to take advantage of these free resources.”
The expansion was rolled out in Intellectual Property Month in October, which recognizes the role that IP plays in inspiring innovation, driving economic growth, and addressing global challenges, the USPTO said.
In the U.S., industry and commerce that rely on IP protection accounts for $7.8 trillion in annual GDP and supports 63 million jobs, according to the USPTO.
In 2023, 5.5 million new business applications were filed, making it the strongest year of new business applications on record, according to the Small Business Administration. The USPTO said that encouraging and supporting more innovation from small and medium sized businesses has been one of its priorities.
Learning to protect IP
The USPTO said it launched the IP Identifier tool and a new Startup Certification Training Course to ensure that the millions of new business owners, and the tens of millions of existing businesses, know how to protect their IP — and the importance of doing so.
The IP Identifier tool’s latest module, Tips for managing your IP assets, provides tips on how to strategically manage and use your IP to strengthen your business in both domestic and international markets. The tool expands on the foundation built in the first two modules, which help users identify what types of IP they have and recognize the differences between patents, trademarks, copyrights, and trade secrets.
The USPTO’s new virtual Startup Certification Training Course is intended for busy startups and offers a one-stop-shop for important information and resources related to IP protection, cybersecurity, and avoiding suspicious funding. The USPTO said that in a two-hour span, participants can get the know-how they need in easily digestible chunks, and they can engage with the course in a place and time convenient for them.
Studies show that startup companies that have IP protection are more likely to successfully raise funding for new product development and expanding production than those without IP protection.
USPTO said that when used as collateral, a patent increases venture capital funding by 76% over three years. The approval of a startup’s first patent application increases its employee growth by 36% over the next five years. After five years, a new company with a patent increases its sales by a cumulative 80% more than companies without a patent.
USPTO said that small businesses with registered trademarks reap similar benefits: five years after their first trademark filing, employment is 80% higher and revenue doubles. Conversely, companies without trademarks see less than 20% employment growth and less than 40% revenue growth over the same five-year period, the agency said.
The IP Identifier tool and Startup Certification Training Course are among many free resources available on the USPTO’s Inventor and entrepreneur resources page.
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