The concept of patents can be traced back to the 14th century additionally has consistently evolved over time. The thought of patents was introduced to encourage innovators by awarding exclusive rights over-the-counter improvements in technology made by these guys. In essence, a patent is really a set of exclusive rights granted through country in exchange for a public disclosure of their invention. The rights granted to a patentee, in most countries, include, the particular to exclude others from making, using, selling, importing, offering for sale or distributing the patented invention without permission of the patentee. This set of exclusive rights is granted for a smallish period of time, and in instances the right is fixed to 20 lots of years.
The exclusive rights granted to a patentee have business impact, some that are listed below:
A patentee how to patent an invention gets the freedom to enjoy monopoly the particular patented invention for 20 years
A patentee can monetize his patented invention by selling or licensing out his rights, in accessory for other associated with monetizing
Engineers and scientists can access a rich pool of patent information and improvise on existing technology
Competitors will have to create non-infringing providers processes
The business impact of patents could be used to enhance the competitiveness of a market. A wholesome, systematic and customized approach towards patents is critical to use the power of patents to positively impact your business.
4 fold approach for enhancing competitiveness
Build a patent fortress
Proactively safeguard your business interests
Respect others intellectual property
Intelligent approach to product and process development
Build a patent fortress
One of this approaches for improving competitiveness of a service is by having product differentiators. Product differentiators are resulted by developing products are generally technologically superior, has newer/better features or addresses specific needs buyers. Sometimes, there will most likely not be any changes forced to the product, however, companies might differentiate themselves from competition through providing products market an invention idea at reduced deals. This might be possible by making changes into the processes implemented in producing item or service. Such modifications meant to the products/processes might be patent worthy. Hence, when a company feels the player have made some modification that may patent worthy, it patenting an idea is to contemplate the involving having such improvements protected by a patent.