REPORT for Guest Lecture on Protecting Innovation: An Introduction to Intellectual Property Rights for Startups

On 10.12.2024 Guest Lecture on "Protecting Innovation: An Introduction to Intellectual Property Rights for Startups" was organized by the Entrepreneurship Development Cell and IIC through offline mode in association with Department of Management Studies. The session was handled by Mrs.Evangelin Kiruba, Assistant Professor, Department of Management Studies, Francis Xavier Engineering College, Vannarpettai from 10:30 AM to 12:30 AM on 10.12.2024, 54 students and one faculty participated.

Innovation is the lifeblood of startups, driving unique solutions and disruptive ideas that fuel growth and competition. However, protecting these innovations is equally critical, as intellectual property (IP) represents a startup’s most valuable asset. The resource person started the session by quoting the importance of protecting the innovation for startups. She randomly picked the students and asked few questions related to patents, copyrights and trademarks which invoked discussion on the subject.

Then resource person explained Intellectual Property Rights (IPRs), which include patents, trademarks, copyrights, and trade secrets, provide legal protection to innovators, safeguarding their creations from unauthorized use and ensuring a competitive edge in the market. For startups, understanding and leveraging IPRs can prevent idea theft, attract investors, and build brand reputation. Filing for patents secures exclusive rights to novel products or processes, while trademarks protect brand identity. Similarly, copyrights guard creative works, and trade secrets secure confidential business practices. Together, these tools form a comprehensive shield around a startup’s intellectual capital, ensuring sustainability and growth.

The speaker, shared practical insights on how startups can identify, protect, and leverage their intellectual property effectively. she emphasized the importance of embedding IP strategies early in the business lifecycle to avoid common pitfalls. Through real-world examples, the speaker illustrated the role of IPRs in securing funding, building partnerships, and creating a sustainable competitive advantage. The session also highlighted various resources available to startups, including government schemes like India’s Startup India program, NEEDS, PMEGP and MUDRA. Students interacted freely with the resource person.