What Patent Strategies Can Be taken to Improve Competitiveness within the Business?

Apr 28, 2017  
The concept of patents can be traced back on the 14th century but it has consistently evolved over time. The theory of patents was introduced to encourage innovators by awarding exclusive rights the particular improvements in technology made by them. In essence, a patent can be a set of exclusive rights new invention idea granted through country in exchange for a public disclosure of their invention. The rights granted to a patentee, in most countries, include, ideal 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 how to obtain a patent of time, and in many the right is restricted to 20 months and months.

The exclusive rights granted to a patentee have business impact, some that 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 ways of monetizing

Engineers and scientists can access a good pool of patent information and improvise on existing technology

Competitors can have to create non-infringing services processes

The business impact of patents can be used function the competitiveness of a business enterprise. A wholesome, systematic and customized approach towards patents is critical 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 patenting an idea others intellectual property

Intelligent procedure product and process development

Build a patent fortress

One among the approaches for improving competitiveness of an organization is getting product differentiators. Product differentiators are brought about by developing products that happen to be 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 offering products at reduced pricing. This might be possible by making changes to your processes used in producing employs a powerful. Such modifications assisted to the products/processes might be patent worthy. Hence, when a company feels these people have made some modification that end up being patent worthy, it is important to contemplate the idea of having such improvements protected by a patent.