Startup Engagement and Intellectual Property Training
The Center for Law and Innovation team hosted a two-day parallel Intellectual Property Event for lawyers and startups on 17th-18th June. It featured two concurrent tracks:
1. Startup Engagement from Ideation to Investment: tailored for founders and entrepreneurs, this track focused on business ideation, market strategies, and securing investments.
2. Future Frontiers for IP: Capacity Building: Designed for legal professionals, this track explored advanced IP topics like patent strategies and the role of IP in strategic partnerships.
This dual-track format facilitated valuable insights and collaboration between legal experts and startups, enriching both sectors' understanding of IP and business innovation.
Day 1 Highlights:
Andreas Spiess led the first session entitled “Intellectual Property - Legal Frameworks, Core Concepts, and Global Perspectives.” He discussed IP fundamentals, including immaterial and intellectual rights, and examples like copyrights and personality rights. He emphasized the importance of companies' possession of personality rights and explored various IP types, including patents, trademarks, copyrights, and trade secrets. A key takeaway was that some rights, like copyrights, are protected without registration, while for trademarks, a descriptive name is preferable.
Simultaneously, a separate breakout session took place led by Isaac Newton Acquah. Drawing from his extensive background, Acquah shared key insights with a group of early-stage startups curious about growing their businesses, identifying market opportunities, and gathering investment. He emphasized the significance of social media as a means of driving customer engagement and relationship building. He also stressed the importance of collaboration and the necessity of viewing a startup as a product to sell rather than a personal project.
The day concluded with a panel discussion on "Unlocking Intellectual Property and Its Role in Strategic Partnerships," featuring Andreas Spiess and Evita Grant, and moderated by Renita Gatesi. The discussion focused on navigating risks and protecting IP rights in strategic partnerships. Speakers recommended that lawyers thoroughly understand their clients' businesses and conduct research for effective advice, while startups were encouraged to heed their lawyers' guidance.
Day 2 Highlights:
Evita Grant conducted the first session entitled “Intellectual Property - Insights from Pharmaceuticals, Creative, and Tech Sectors.” She focused on building an IP practice and discussed various IP rights and services lawyers can offer, such as patent registration, NDAs, commercial transactions, and client confidentiality. Emphasis was placed on understanding clients and building strong relationships.
Simultaneously, in a breakout pitching session for startup business owners, various entrepreneurs showcased their innovative ideas and received valuable feedback from officials in the investment sector. Andreas Spiess delivered the opening remarks, emphasizing the importance of being able to pitch one's startup at any moment. He highlighted that investors prioritize impactful ideas and collaboration over competition.
Startups presented their unique solutions, ranging from meal prep platforms and e-waste conversion to sustainable wood alternatives and fashion initiatives for refugees. Each presentation received constructive criticism, with a focus on improving clarity, emphasizing impact, and understanding the investor perspective. The session reinforced the necessity of a strong, clear pitch and the value of networking and mentorship in the entrepreneurial journey.
This was followed by a panel discussion on "Startup Stories: Ideate, Invent, and Implement" featuring Norbert Haguma, Evita Grant, and James Badour, moderated by Isaac Newton Acquah. The discussion highlighted the interdependence between businesses and lawyers, offering advice on attracting investors, honesty, articulation, and incorporating technology. The event concluded with a master class on product development and go-to-market strategies by James Badour.
Throughout the training, participants gained valuable knowledge about the IP ecosystem, the importance of protecting intellectual assets, and the crucial role lawyers play in supporting startups. The event provided a platform for lawyers and startup founders to connect, learn, and collaborate, fostering a better understanding of the legal and business aspects of IP in the startup world.