Start-ups and SMEs are one of the core building blocks of high-tech clusters, such as the Silicon Valley. Technology-intensive SMEs are powerhouses of innovation and essential drivers of economic development in all modern economies.
These start-ups and SMEs design, develop and commercialize disruptive high-risk technologies with high-payoff potential. On their pathway to the market, they need to incorporate upfront an intellectual property (IP) strategy into their business plans.
These days, the market capitalization of a high-tech start-up or SME is based on its IP portfolio, which is often mostly composed of patents.