What Patent Strategies Can Be used to Improve Competitiveness of a Business?

The concept of patents can be traced back towards the 14th century plus it doesn't has consistently evolved over time. The concept of patents was introduced to encourage innovators by awarding exclusive rights over the improvements in technology made by them. In essence, a patent is often a set of exclusive rights granted with a country in exchange for how do i patent an idea 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 fixed period of time, and in most cases the right has limitations to 20 years.

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 addition to other associated with monetizing

Engineers and scientists can access an excellent pool of patent information and improvise on existing technology

Competitors may have to create non-infringing products and processes

The business impact of patents can be used develop the competitiveness of a legitimate income opporunity. A wholesome, systematic and customized approach towards patents is necessary to use the power of patents to positively impact your corporate.

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 of this approaches for improving competitiveness of a service is with product differentiators. Product differentiators are resulted by developing products that happen to be technologically superior, has newer/better features or addresses specific needs of customers. Sometimes, there usually will not be any changes designed the product, however, companies might differentiate themselves from competition by products at reduced value. This might be possible by making changes to your processes present in producing item or service. Such modifications intended to the products/processes might be patent best. Hence, when a company feels that they have made some modification that may be patent worthy, it vital to contemplate the idea of having such improvements protected by a patent.
2017-04-04 / Posted in