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

The concept of patents can be traced back to your 14th century and it has consistently evolved over time. This is really of patents was introduced to encourage innovators by awarding exclusive rights over the improvements in technology made by children. In essence, a patent is really a set of exclusive rights granted through country in exchange for a public disclosure of their invention. The rights granted invention idea 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 limited period of time, and in instances the right is fixed to 20 growth cycles.

The exclusive rights granted to a patentee have business impact, some that are listed below:

A patentee gets the liberty 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 will have to create non-infringing services processes

The business impact of patents can be used to enhance the competitiveness of a business. A wholesome, systematic and customized approach towards patents is necessary to use the power of patents to positively impact your venture.

4 fold approach for enhancing competitiveness

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 for this approaches for improving competitiveness of an organization is getting product differentiators. Product differentiators are brought about by developing products are generally technologically superior, has newer/better features or addresses specific needs of customers. Sometimes, there perhaps may not be any changes which is designed to the product, however, companies might differentiate themselves from competition patent ideas by offering products at reduced values. This might be possible by making changes towards the processes implemented in producing your handmade jewelry. Such modifications developed to the products/processes might be patent worthy. Hence, when a company feels the player have made some modification how to file a patent that may patent worthy, it is important to contemplate the involving having such improvements protected by a patent.