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equitiasu

What Patent Strategies Can Use to Improve Competitiveness within the Business?

The concept of patents can be traced back towards 14th century plus it doesn't has consistently evolved over time. The thought of patents was introduced to encourage innovators by awarding exclusive rights the market an invention idea particular improvements in technology made by these guys. In essence, a patent is a set of exclusive rights granted by a country in exchange for a public disclosure patent ideas 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 fixed period of time, and in many 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 over-the-counter 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 may have to create non-infringing providers 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 required to use the power of patents to positively impact your corporate.

4 fold approach for enhancing competitiveness

Build a patent fortress

Proactively safeguard how to get a patent for an idea your business interests

Respect others intellectual property

Intelligent technique to product and process development

Build a patent fortress

One of this approaches for improving competitiveness of a business or company is with product differentiators. Product differentiators are delivered by developing products that happen to be technologically superior, has newer/better features or addresses specific needs buyers. Sometimes, there might not be any changes intended to the product, however, companies might differentiate themselves from competition through providing products at reduced values. This might be possible by making changes towards the processes present in producing item or service. Such modifications made to the products/processes might be patent deserving. Hence, when a company feels these people have made some modification that may patent worthy, it is very to contemplate the involving having such improvements protected by a patent.

Don't be the product, buy the product!

Schweinderl