
© gurdonark
The startup community needs to get up and take notice of the Facebook vs. Yahoo patent war. There are deeper implications for Facebook than just the lawsuit. This lawsuit could play a decisive role in investor decisions before the upcoming IPO of the social networking giant.
Startup businesses have to realize the importance of intellectual property. These patents can help the company in many ways in terms of royalties or acquisitions in the future. Startup businesses have to identify the unique technologies that they possess and try to patent them. This will also protect them from litigation in the future.
Now is a good time for startup businesses to bring about a change in their strategies since the US patent system is changing and some provisions of the America Invents Act will go into effect as early as March 2013. The companies have to first ascertain their target consumer base: global or American. The US system allows the inventors to file for a patent even after one year of public disclosure so the legal technicalities can be avoided by filing for a patent before sale or public use. Startup businesses can also identify their unique technology and file provisional patents before going into a full patent. This gives some grace period to the company and also prevents someone else from patenting that technology. The fees for filing a provisional patent are around $125 and will go a long way in safeguarding the interests of the company.

