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Why is IP important for starting companies?

The answer is simple: a good start is half the battle. First of all it allows you to protect what is yours. It prevents others from copying your products. A protected product also provides you with extra leverage during your search for partners or investors.

It is also very important not to infringe the rights of others. Therefore, check carefully whether the name or the product you are working on is not already protected in some way. After all, it would be a waste of time and money to develop a product that somebody else has already come up with.