Intellectual property (IP) is crucial for the growth and innovation of technology companies, serving to protect the core ideas behind commercial inventions and products. Securing IP ensures that these valuable assets remain with the company, making it an important factor for investors and partners assessing a company’s value. This chapter discusses the four main forms of IP—copyrights, trademarks, patents, and trade secrets—each providing unique protections. The focus then narrows to patents, which are essential for safeguarding the fundamental ideas of a business. Patents incentivize innovation by granting exclusive rights for 20 years. This exclusivity allows companies to recover their investments and drive the discovery of new treatments and therapies. Additionally, patents promote collaboration by requiring inventors to disclose their inventions to the US Patent and Trademark Office (USPTO), fostering a knowledge-sharing ecosystem that benefits the public. The chapter will also examine strategies for building strong patent portfolios that protect a product’s market position, maximize patent longevity, and withstand post-grant challenges. Effective patent strategies balance broad and narrow claims to protect products while safeguarding against invalidation. Such strategies enhance IP protection, ensuring sustained innovation and competitive advantage in the market.