3. Manage your startup’s intellectual property (“IP”)
IP rights are the legally recognized exclusive rights to creations of the mind. Under IP law, IP owners are granted certain exclusive rights to a variety of intangible assets, such as musical, literary, and artistic works (copyrights); discoveries and inventions (patents); and words, phrases, symbols, and designs (trademarks). You also want to protect any secret information you may have which may give your company a competitive or economic advantage over others (trade secrets). One of the most important things to consider when creating a startup is the name your business.