It emphasises that a robust IP portfolio, encompassing patents, trademarks, and trade secrets, acts as a competitive advantage, or "moat". The text explains how to showcase market exclusivity, brand loyalty, and innovation leadership through IP protection. Using Stripe as a case study, the author illustrates how a combination of different IP types contributes to a defensible market position and secures investment. Ultimately, the piece advises startups to strategically leverage and clearly communicate the value of their IP to potential funders.