Part 2: c. Attorneys, Accountants, & Other Professionals
Find a good lawyer, accountant, and other expert consultants you may need. Look for professionals with experience in the specific field where you need expertise, ones you trust and work with well. For example, consult an accountant with experience working with small businesses, and experience with SBIR funding if you are applying for or have an SBIR.
Example of professional assistance: Hiring an attorney regarding intellectual property
What are the advantages of establishing your intellectual property legally?
- It is attractive to investors and customers
- It deters infringement lawsuits from others claiming some or all of your product is their idea.
- It may deter others from working on something similar.
- It adds value to your company’s assets and can increase your leveraging power.
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Intellectual Property Challenge
- For professional and consulting services, take advantage of state and local resources that are available to small businesses, often free of charge. The Small Business Administration website has a searchable database of local resources.
- Part of the expenses for professionals you need to hire can be charged to the indirect cost of federal awards.