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 over-the-counter improvements in technology made by these guys. In essence, a patent can be a set of exclusive rights granted through country in exchange for a public disclosure of their invention. The idea patent
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 most cases the right is fixed to 20 lots of years.
The exclusive rights granted to a patentee have business impact, some of which are listed below:
A patentee gets the freedom 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 addition to other methods for monetizing
Engineers and scientists can access an excellent pool of patent information and improvise on existing technology
Competitors may have to create non-infringing services processes
The business impact of patents can be used functioning . the competitiveness of a legitimate income opporunity. 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
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 your approaches for improving competitiveness of a business is getting product differentiators. Product how to patent an idea or product
differentiators are resulted by developing products are generally technologically superior, has newer/better features ideas for inventions
or addresses specific needs buyers. Sometimes, there will most likely not be any changes intended to the product, however, companies might differentiate themselves from competition by providing products at reduced values. This might be possible by making changes towards processes use within producing the product. Such modifications intended to the products/processes might be patent deserving. Hence, when a company feels the player have made some modification that end up being patent worthy, it vital to contemplate the regarding having such improvements protected by a patent.