The concept of patents can be traced back to the 14th century additionally has consistently evolved over time. This is really of patents was introduced to encourage innovators by awarding exclusive rights the actual improvements in technology made by children. In essence, a patent can be 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, ideal to exclude others from making, how to patent 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 small period of time, and in many the right has limitations to 20 months and months.
The exclusive rights granted to a patentee have business impact, some of which are listed below:
A patentee 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 addition to other ways of monetizing
Engineers and scientists can access a rich pool of patent information and improvise on existing technology
Competitors could have to create non-infringing services processes
The business impact of patents can be used to enhance the competitiveness of a business enterprise. A wholesome, systematic and customized approach towards patents is required to use the power of patents to positively impact your business.
4 fold approach for enhancing competitiveness
how to get a patent on an idea
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 the approaches for improving competitiveness of an organization is with product differentiators. Product differentiators are generated by developing products that happen to be technologically superior, has newer/better features or addresses specific needs of customers. Sometimes, there may possibly be any changes forced to the product, however, companies might differentiate themselves from competition through providing products at reduced pricing. This might be possible by making changes towards processes implemented in producing employs a powerful. Such modifications assisted to the products/processes might be patent best. Hence, when a company feels they patent idea will have made some modification that may be patent worthy, it is crucial to contemplate the involving having such improvements protected by a patent.