The concept of patents can be traced back on the 14th century but it has consistently evolved over time. The thought of patents was introduced to encourage innovators by awarding exclusive rights the particular improvements in technology made by children. In essence, a patent can be a set of exclusive rights granted through country in exchange patent your idea 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 many the right is restricted to 20 years.
The exclusive rights granted to a patentee have business impact, some that are listed below:
A patentee gets the liberty to enjoy monopoly over the patented invention for 20 years
A patentee can monetize his patent an idea patented invention by selling or licensing out his rights, in accessory for other methods for monetizing
Engineers and scientists can access a good pool of patent information and improvise on existing technology
Competitors may have to create non-infringing products and processes
The business impact of patents could be used enhance the competitiveness of a market. A wholesome, systematic and customized approach towards patents is called for to make use of the power of patents to positively impact your sector.
4 fold approach for enhancing competitiveness
Build a patent fortress
Proactively safeguard your business interests
Respect others intellectual property
Intelligent ways to product and process development
Build a patent fortress
One for this approaches for improving file a patent competitiveness of a service is by having product differentiators. Product differentiators are brought about by developing products which are technologically superior, has newer/better features or addresses specific needs buyers. Sometimes, there may possibly be any changes forced to the product, however, companies might differentiate themselves from competition offering products at reduced pricing. This might be possible by making changes to your processes employed in producing item or service. Such modifications made to the products/processes might be patent important. Hence, when a company feels they will have made some modification that might be patent worthy, it is to contemplate the regarding having such improvements protected by a patent.