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Q5. What role do legal professionals play in the technology sector?

IP protection. When an inventor, entrepreneur, or startup develops a novel technology, the first step in bringing it to market is legal counsel, to protect intellectual property and to explore deals that may fund its development and initial marketing. Among the issues legal counsel will advise on or oversee are:

Intellectual property protection. Entrepreneurs and companies developing technology must constantly be working to protect it. Protection includes filing for patents, trademarks, and copyrights, as well as working to avoid infringement, enforce rights, and defend against infringement should rivals claim they got the idea first.

M&As. Mergers and acquisitions are goals of most startups, a time to cash in on years of hard work, pay off now-happy investors, and set innovations permanently onto the market. Legal counsel oversees deal structuring, contracts and documentation, due diligence, regulatory compliance, and other essential legal details.

Litigation and dispute resolution. Unfortunately, the tech world is as competitive as it is innovative, and too often that winds up involving litigation. It can come from any direction, from patent trolls (companies that file patents only so they can sue future inventors) to competitors to investors. This is why tech companies hire legal professionals who are experts at IP law, infringement and pirating, contract breaches, and other relevant areas of law.

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