What Patent Strategies Can Be used to Improve Competitiveness connected with Business?

May 12, 2017

The concept of patents can be traced back towards 14th century but it has consistently evolved over time. This is really of patents was introduced to encourage innovators by awarding exclusive rights the particular improvements in technology made by these guys. In essence, a patent is really a set of exclusive rights granted by a country in exchange for a public disclosure of their invention. The rights granted to a patentee, in most countries, include, the right to exclude others from making, using, selling, importing, offering for sale or distributing the patented invention how to get a patent on an idea without permission of the patentee. This set of exclusive rights is granted for modest period of time, and in many the right is limited to 20 ages.

The exclusive rights granted to a patentee have business impact, some of which are listed below:

A patentee gets the liberty to enjoy monopoly the actual years patented invention for 20 years

A patentee can monetize his patented invention by selling or licensing out his rights, in accessory for other methods for monetizing

Engineers and scientists can access a rich pool of patent information and improvise on existing technology

Competitors can have to create non-infringing services processes

The business impact of patents can be used enhance the competitiveness of a business enterprise. A wholesome, systematic and customized approach towards patents is necessary to use the power of patents to positively impact your venture.

4 fold approach for enhancing competitiveness

Build a patent fortress

Proactively safeguard your business how to pitch an invention to a company interests

Respect others intellectual property

Intelligent technique to product and process development

Build a patent fortress

One of this approaches for improving competitiveness of an agency is with product differentiators. Product differentiators are generated by developing products will be technologically superior, has newer/better features or addresses specific needs buyers. Sometimes, there might not be any changes forced to the product, however, companies might differentiate themselves from competition by offering products at reduced values. This might be possible by making changes to the processes employed in producing the product. Such modifications assisted to the products/processes might be patent desirable. Hence, when a company invention patent feels they will have made some modification that may be patent worthy, it is crucial to contemplate the regarding having such improvements protected by a patent.