The concept of patents can be traced back towards 14th century and it has consistently evolved over time. The concept of patents was introduced to encourage innovators by awarding exclusive rights the actual years improvements in technology made by them. In essence, a patent is 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, re-decorating . 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 small period of time, and in many the right is fixed 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 actual years patented invention for 20 years
A patentee can monetize his 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 could have to create non-infringing services processes
The business impact of patents can be used develop the competitiveness of a business enterprise. A wholesome, can i patent an idea systematic and customized approach towards patents is called for to use the power of patents to positively impact your provider.
4 fold approach for enhancing competitiveness
patent your idea
Build a patent fortress
Proactively safeguard your business interests
Respect others intellectual property
Intelligent technique to product and process development
Build a patent fortress
One of your approaches for improving competitiveness of a service is with product differentiators. Product differentiators are delivered by developing products which are technologically superior, has newer/better features or addresses specific needs of consumers. Sometimes, there will most likely not be any changes made to the product, however, companies might differentiate themselves from competition by providing inventions ideas products at reduced prices. This might be possible by making changes towards processes present in producing item or service. Such modifications meant to the products/processes might be patent desirable. Hence, when a company feels that they have made some modification that may patent worthy, it is crucial to contemplate the idea of having such improvements protected by a patent.