This, in turn, will naturally provide greater leverage against the competition. Other companies will not be able to use your brilliant business idea and benefit from it. You will be legally protected: in case someone uses your product ideas without authorization, you will have the law on your side and can ask for compensation. • Security: the company will enjoy greater security against theft, for example, once the intellectual property is sorted. Additionally, proper intellectual property can protect your customers too, as they purchase from legitimate businesses that uphold their rights as consumers. It also ensures that counterfeit products do not become a headache to deal with. • Leverage on investors: Another big advantage for startups is the increased attractiveness for investors if the intellectual property rights are resolved. Investors know that it adds more value to your startup and that seeking funding is much easier once the intellectual property is sorted out. This does not necessarily mean a fully planned and organized IP system, but you should show investors that you at least understand the importance of IP and know how to implement it. Common mistakes to make