The concept of patents can be traced back towards 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 these guys. In essence, a patent can be a set of exclusive rights granted with country in exchange for a public disclosure of their invention. The rights granted to a patentee, in most countries, include, realize that clean 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 limited period of time, and in many the right is proscribed to 20 ages.
The exclusive rights granted to a patentee have business impact, market an invention idea some that are listed below:
A patentee gets the liberty to enjoy monopoly in the 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 ideas for inventions wealthy pool of patent information and improvise on existing technology
Competitors can have to create non-infringing services processes
The business impact of patents could be used develop the competitiveness of a business enterprise. A wholesome, systematic and customized approach towards patents is critical to make use of the power of patents to positively product patent impact your provider.
4 fold approach for enhancing competitiveness
Build a patent fortress
Proactively safeguard your business interests
Respect others intellectual property
Intelligent means 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 resulted by developing products that are technologically superior, has newer/better features or addresses specific needs clients. Sometimes, there may possibly be any changes intended to the product, however, companies might differentiate themselves from competition by offering products at reduced deals. This might be possible by making changes to your processes employed in producing the product. Such modifications developed to the products/processes might be patent worthy. Hence, when a company feels that they have made some modification that might be patent worthy, it is crucial to contemplate the regarding having such improvements protected by a patent.