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Every entrepreneur should look into what intellectual property rights can do for them. And the experts at the Danish Patent and Trademark Office are ready to help.

This article is published in collaboration with the Danish Patent and Trademark Office

As a new entrepreneur, there are 1,000 things to consider, and intellectual property rights (IP) such as patents, trademarks and designs are rarely at the top of the list. But maybe they should be.
Companies with at least one patent, registered design or trademark generate on average 20% more revenue per employee compared to companies that do not own IP rights.

“The most important thing is for entrepreneurs to realize that IP rights exist and can affect their business. You can use them to protect an idea from competitors or to attract investors. But it’s also about being careful not to infringe the rights of others,” says Rune Bjørn Lorentzen, Head of Unit for National Policy at the Danish Patent and Trademark Office.

Rune Bjørn Lorentzen Head of Unit for National Policy at the Danish Patent and Trademark Office
Rune Bjørn Lorentzen, Head of Unit for National Policy at the Danish Patent and Trademark Office.

Everyone should consider

It can be difficult to know which rights are relevant. That is why the Danish Patent and Trademark Office is organizing a series of webinars for entrepreneurs to give a basic introduction to the different types of rights. The Patent and Trademark Office also has customer service consultants who provide free and non-binding guidance.

“There may be obstacles in the process. Both financially, but also in terms of how to access knowledge in an easy way when you need it. We help to reduce these barriers,” says Rune Bjørn Lorentzen.

“Don’t wait for others to protect your idea before you. Have a structured approach to IP rights and show that you are serious about your business,” – Stine Mølgaard Sørensen, co-founder of Radiobotics and investor

If you find out that you can use IP rights, it requires subsequent strategic work to make them value-creating. For example, you should consider whether they should be used to find partners, in communication with customers or towards investors.

“It’s a journey. You have to start by finding out that IP exists. Once you know that, you have to find out what it means for the company. Only then, you can start using the rights to create value,” says Rune Lorentzen and adds:

“IP rights are not relevant for everyone, but you should consider the possibility of protection. The website of the Danish Patent and Trademark Office is a good place to start. Here you can, for example, take a rights test, get general information on price and process, and be inspired by others who have used rights in their business.”

Find help getting started with IP rights: www.dkpto.dk

The article is part of the magazine “The Guide – A comprehensive overview of the Danish startup ecosystem”, published by Heyfunding and TechSavvy.media.

Read the full magazine here: