The concept of patents can be traced back on the 14th century additionally has consistently evolved over time. The concept of patents was introduced to how to patent ideas encourage innovators by awarding exclusive rights over the improvements in technology made by them. In essence, a patent is a set of exclusive rights granted with a country in exchange for a public disclosure file a patent of their invention. The 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 limited period of time, and in most cases the right is restricted to 20 years.
The exclusive rights granted to a patentee have business impact, some that are listed below:
A patentee gets the freedom to enjoy monopoly the particular 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 could have to create non-infringing providers processes
The business impact of patents can be used develop the competitiveness of a business enterprise. A wholesome, systematic and customized approach new ideas for inventions towards patents is critical to make use of 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 procedure product and process development
Build a patent fortress
One of your approaches for improving competitiveness of an organization is by having 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 offering products at reduced values. This might be possible by making changes towards processes employed in producing employs a powerful. Such modifications made to the products/processes might be patent important. Hence, when a company feels they will have made some modification that may be patent worthy, it is to contemplate the regarding having such improvements protected by a patent.