There are several reasons why entrepreneurs might overlook IP when drafting their business plans:
Lack of Awareness: Many entrepreneurs are not fully aware of the significance and benefits of IP, leading to its omission. Cost Concerns: Securing and maintaining IP rights can be expensive, and startups often operate on limited budgets. Focus on Speed: In the rush to bring a product to market, entrepreneurs might prioritize speed over securing IP protections. Complexity: The process of obtaining IP can be complex and time-consuming, deterring entrepreneurs from pursuing it.