Depending on Pending as a reason for getting funded

If someone was to put together the "Founder’s Manual" for pitching a VC, the section on barriers to entry would say something like: "When asked about your barrier to entry, tell the VC that you have several patents pending for proprietary technology." Heck, I’m sure I used the same line when I was raising money for Half.com — after all, we filed for our first patent in October 1999.

Well, I’m excited to announce that the original Half.com patent (#7,373,317) was finally approved by the USPTO last week – eight and a half years after we filed it (and seven years after eBay acquired Half.com).

I believe there is little-to-no value in depending on pending patents for a "barrier" to entry.

Full Story: http://alwayson.goingon.com/permalink/post/27280