How to start a tech startup in Singapore, according to a lawyer

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This article is part of Tech in Asia’s partnership with Asia Law Network where we publish articles written by lawyers on their advice for startup founders. For more articles in this series, go here.

For a successful startup journey, it’s crucial to get the foundation right, especially in the ideation and seed stages. If you’re starting a startup in Singapore, here are some legal considerations to make your journey an informed one.

Gestation (ideation) stage

Your idea is coming together, and you are excited about the possibilities. But turning possibilities into a real thing involves risk and requires resources. This is where startup founders must be confident in:

• Having a product that is going to excite not just their target consumers but also potential investors
• Having the “freedom to operate”
• Having the rights in the product in order to have a competitive advantage

Patent landscaping exercise

Competitor analysis, market research, consumer needs analysis, business plans, and brand strategies are important at this stage. You must carry out careful analysis and planning to make your product as “marketable” as possible.

For tech startups, work with intellectual property (IP) lawyers to undertake a patent landscaping exercise. The patent data from this exercise will provide a good understanding of the players in your space and its white spaces (i.e. places with little patent activity).

Developing technology with this in mind will help you convince potential investors of the value of the idea and the possibility of a strong exit or IPO.

Freedom to operate (FTO)

Make sure that nobody else has any rights to the product, intended design, or brand.

For tech startups, establish FTO by conducting thorough patent searches. If you can, seek the help of an IP lawyer, providing as much information as possible on the functions of the product.

Lawyers are governed by law to keep a client’s confidential information. Therefore, there is no need for a non-disclosure agreement (NDA).

Rights to acquire for a competitive advantage

Seed stage

Growth and maturity stage