The concept of patents can be traced back to the 14th century but it has consistently evolved over time. The concept of patents was introduced to encourage innovators by awarding exclusive rights the actual years 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 of their invention. The rights granted to a patentee, in most countries, include, the right 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 many the right is limited to 20 ages.
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 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 rich pool of patent information and improvise on existing technology
Competitors could have to create non-infringing services processes
The business impact of patents can be used develop the competitiveness of an online business. A wholesome, systematic and customized approach towards patents is crucial to use the power of patents to positively impact your corporate.
4 fold approach for invention patent 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 the approaches for improving competitiveness of a business is getting product how to patent a product idea differentiators. Product differentiators are generated by developing products which are technologically superior, has newer/better features or addresses specific needs buyers. Sometimes, there may possibly be any changes which is designed to the product, however, companies might differentiate themselves how to patent a product idea from competition by products at reduced deals. This might be possible by making changes towards processes implemented in producing employs a powerful. Such modifications developed to the products/processes might be patent worthy. Hence, when a company feels may have made some modification that may patent worthy, it is crucial to contemplate the idea of having such improvements protected by a patent.