Technology startups depend in large part on the promise and value of their technology in order to raise funding and enter a market. However, this core strategic asset is often at significant risk in the early stages of venture development when there are limited funds and thin management resources. In this article we identify the common pitfalls in technology management among technology startups, and propose a best practices strategy for this class of intellectual property right holders. Based on a combination of interviews and surveys, we focus on a select group of startups to identify the nature of their current intellectual property rights management. Through this article we offer a possible technology management roadmap that takes technology startups from the first inception of an innovation to an execution stage of raising venture funding, and on to eventual commercialization as a successful company with a defensible position in the marketplace.