/Patents filed and clients
There are several key factors of a startup that are milestones.
Your MVP is ready
You singed your first client
You are close to revenue
As a tech company you filled a patent
Over the first two weeks of 2023 we had all these points.
Our MVP was ready last year, but the first client was hard to find.
To have two clients in two weeks and getting into revenue and have two patents filed is something that felt pretty impossible. But it happened all in two weeks whilst I was struggling with the third time infection of Pericarditis.
Choosing when to start the patent process is a critical decision for startups. Waiting too long can result in your patent rights being inadvertently forfeited, but filing too early can be a waste of precious capital that locks you into a timeline of costs that your company may not be prepared for.
We waited to file until we had clarity on the clients.
The right time to file a patent application is ultimately based on a combination of business and legal factors, which unfortunately is why there is a lot of bad information out there when it comes to patents for startups.
It ultimately costs a lot of money and resources, so is this worth it ?
It is difficult to quantify exactly how much a patent application can add to a company's valuation, as it can vary significantly depending on a number of factors. That said, many investors have indicated that, as a part of overall company valuation, they accept the valuation range for a pending patent application to be between $1.000,000 to $10,000,000 each and you should make a strong argument for this valuation - albeit very broad -
Some of the factors that can impact the value of a patent and its potential contribution to a company's valuation include:
The nature and scope of the invention: Patents that cover innovative or highly sought-after technologies or products may be more valuable than patents that cover less novel or in-demand inventions. We filled a patent based on opening credit to the thin lined credit people. And we filed patent for adding a dynamic score to a static transaction - more of that soon -
Both of the fillings include a massive market.
The market size and demand for the invention: Patents that have the potential to generate significant revenue or address a large market need may be more valuable than patents that have a smaller market or less demand.
If you want to know more about the patents, please go to https://myvioscore.com and fill in the contact form.
Currently we can serve, unsecured lending, telecom, governments and fraud preventions.
more to be added soon.
Hopefully by the end of the week I will update more on one big clients.
We are in the process of some other big news facts also.
All is not sunny thought.. We are still dealing with the aftermath of ultimately some bad decisions in the first year - and that is only my fault and my fault only - but I am confident we will get to the other side..
then we have climbed the first mountain in our journey.. it good to know that after mount Elbrus there are 6 more higher mountains to go..
Be safe all.
Ps if you in the neighbourhood of New Orleans in April. Let me know and I can maybe get you some more info of my presentation at the credit conference.
https://credit-con.com/2023-speakers/
Romano.