Startup and midsize pharmaceutical and medical device companies face a range of challenges that need the help of a strong legal team from hiring to conducting clinical trials to finding investors. Targeting legal counsel early in the process better positions companies to manage risk.

Development of an invention—such as a new drug, method of treatment, medical device, or medical test—immediately triggers a company’s need to start assembling a legal team of IP, corporate, and litigation counsel. The pharmaceutical and medical device industry depends heavily on intellectual property, particularly patents, to protect proprietary rights and build an exclusive area of operation. IP counsel are some of the earliest members of pharma startup legal teams, even before corporate or litigation counsel are engaged or a corporate structure and business plan are in place.

Read the article on the Bloomberg Law website here.