Intellectual property management in startups — problematic issues

Abstract

Abstract This paper describes the most important problems related to the management of intellectual property in startups. Startups have become an inseparable element of the innovative economy. Many of these companies base their development on intellectual capital and innovations. In this context, it is extremely important to legally secure the innovations and protect intellectual property. These activities can often be the decisive factor in the development of startups. This article aims to identify, analyse and evaluate the most important issues related to the management of intellectual property in startups. The first part of this paper presents the performed literature review, which mainly concerns the definition of innovation, the state of entrepreneurship in Poland, and the definition of a startup. The second part of the article deals with the main problems related to the management of intellectual property in startups. It is divided into three issues: underestimating the importance of intellectual property, the lack of intellectual property management strategies in startups and financial challenges of startups. The main results of the research indicate that many startups still have low awareness of what is intellectual property and what can be the consequence of using exclusive rights of others. The protection of intellectual property should become one of the elements of business strategies. However, startups find that the creation of the strategy and its implementation is rather expensive.