Start protecting your intellectual property and forming a strong corporate foundation early in the development process.
The National Venture Capital Association (NVCA) reported recently that Charlottesville, VA is the fastest growing region for venture capital (VC) funding in the United States. Specifically, between 2010 and 2015, VC funding in the region increased from a mere $250,000 to almost $28 million, mostly to burgeoning tech companies. The surge in VC funding effectively means investment firms are willing to bet on companies in Virginia cities—like Charlottesville—for investments in startup companies they believe will be worth the risk. This national attention offers Virginia a significant advantage over other states and territories for launching, growing, and attracting businesses.
The influx of sophisticated investors and early- to mid-stage startup companies, especially technology-based startups, consequently raises the need for experienced legal counsel. As a full-service law firm, Woods Rogers PLC assists clients in protecting and enforcing their intellectual property rights, including negotiating licenses with university tech transfer offices, drafting and prosecuting patent applications, writing freedom-to-operate and patentability opinions, and resolving legal disputes through litigation if necessary. Our corporate attorneys offer counsel to businesses on starting a company, raising capital, and addressing labor & employment needs, as well as formulating an exit strategy. Woods Rogers considers it a responsibility and privilege to grow along with Virginia’s companies and, based on our more than 100 years of experience serving businesses and individuals in Virginia and beyond, Woods Rogers will be here for the long-haul.
Importantly, Charlottesville is not alone. The spotlight cast by the NVCA can translate into more money for other similarly situated cities in Virginia. As reported by the NVCA, a driving force behind the investments was the sophistication of the University of Virginia; in fact, six of the nine companies receiving a large share of VC funding commercialized university technology. The university also provides startup funding, mentorship programs, and a readymade local workforce positioned to turn intellectual property into profits. In addition to the university resources, local organizations like the Charlottesville Business Innovation Counsel—which brings tech entrepreneurs together for networking, educating, and brainstorming—and angel funding groups such as CavAngels and the Charlottesville Angel Network, keep the ecosystem vibrant and fertile for expansion.
Accordingly, other Virginia locales near major universities—such as Roanoke (Virginia Tech), Harrisonburg (James Madison University), Richmond (Virginia Commonwealth University and University of Richmond), Williamsburg (William & Mary), and Northern Virginia (George Mason)—are poised to attract investment opportunities for reasons similar to Charlottesville.
Woods Rogers PLC is uniquely positioned to help companies navigate the expanding and changing startup landscape in Virginia. For more information about how we can help you protect your ideas, and provide legal guidance in support of your company’s growth strategy, please contact:
Article brought to you by:
Nathan A. Evans
Of Counsel and Registered Patent Attorney / P. (434) 220-6829
Intellectual Property Practice Group; Litigation Practice Group