The concept of patents can be traced back to the 14th century but it has consistently evolved over time. The thought of patents was introduced to encourage innovators by awarding exclusive rights over the improvements in technology made by them. In essence, a patent is often a set of exclusive rights granted any 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 fixed period of time, and in most cases the right is restricted to 20 ages.
The exclusive rights granted to a patentee have business impact, some that are listed below:
A patentee gets the freedom to enjoy monopoly the actual years patented invention for 20 years
A patentee can monetize his patented invention by selling or licensing out his rights, in accessory for other associated with monetizing
Engineers and scientists can access a rich pool of patent information and improvise on existing technology
Competitors can have to create non-infringing providers processes
The business impact of patents can be used function the competitiveness of an how to submit a patent href='http://www.onecountry.com/need-invention-ideas-for-kids-the-ultimate-stem-guide-2336829976.html'>invention ideas online business. A wholesome, systematic and customized approach towards patents is critical to make use of the power of patents to positively impact your provider.
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 of this approaches for improving competitiveness of a business or company is by having product differentiators. Product differentiators are brought about by developing products that are technologically superior, has newer/better features or addresses specific needs of customers. Sometimes, invention ideas there might not be any changes which is designed to the product, however, companies might differentiate themselves from competition through providing products at reduced value. This might be possible by making changes towards processes present in producing employs a powerful. Such modifications meant to the products/processes might be patent desirable. Hence, when a company feels they will have made some modification that may be patent worthy, it vital to contemplate the associated with having such improvements protected by a patent.