"Patents make our product defensible." The optimal number of times to use the P word in a presentation is one. Just once, say, "We have filed patents for what we are doing." Done. The second time you say it, venture capitalists begin to suspect that you are depending too much on patents for defensibility. The third time you say it, you are holding a sign above your head that says, "I am clueless."

Reality Check: The Irreverent Guide to Outsmarting, Outmanaging, and Outmarketing Your Competition (ed. Penguin, 2008) - ISBN: 9781440634536