The concept of patents can be traced how to patent ideas back towards 14th century and yes it even has consistently evolved over time. Carrying out of patents was introduced to encourage innovators by awarding exclusive rights over-the-counter improvements in technology made by them. In essence, a patent can be a set of exclusive rights granted with 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 fixed period of time, and in instances the right is limited to 20 years.
The exclusive rights granted to a patentee have business impact, some that are listed below:
A patentee gets the liberty 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 accessory for other methods for monetizing
Engineers and scientists can access a good pool of patent information and improvise on existing technology
Competitors can have to create non-infringing products and processes
The business impact of patents could be used develop the competitiveness of an online business. A wholesome, systematic and customized approach towards patents is critical to make ideas for inventions 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 technique to product and process development
Build a patent fortress
One for this approaches for improving competitiveness of a business or company is with product differentiators. Product differentiators are generated by developing products that happen to be technologically superior, has newer/better features or addresses specific needs buyers. Sometimes, there usually will not be any changes forced to the product, however, companies might differentiate themselves from competition by offering products at reduced value. This might be possible by making changes towards the processes used in producing pill. Such modifications intended to the how to patent a product products/processes might be patent important. Hence, when a company feels the player have made some modification that may be patent worthy, it is to contemplate the regarding having such improvements protected by a patent.