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What Patent Strategies Can Be used to Improve Competitiveness of a Business?

The concept of patents can be traced back to the 14th century and it has consistently evolved over time. The theory of patents was introduced to encourage innovators by awarding exclusive rights over the improvements in technology made by children. In essence, a patent is really a set of exclusive rights granted how to patent an idea any country in exchange for a public disclosure of their invention. The rights granted to a patentee, in most countries, include, re-decorating . how to patent 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 instances the right is proscribed to 20 years.

The exclusive rights granted to a patentee have business impact, ideas for inventions some that are listed below:

A patentee gets the liberty 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 associated with monetizing

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

Competitors will have to create non-infringing services processes

The business impact of patents could be used enhance the competitiveness of a business. A wholesome, systematic and customized approach towards patents is necessary to make use of 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 others intellectual property

Intelligent approach to product and process development

Build a patent fortress

One among the approaches for improving competitiveness of an organization is by having product differentiators. Product differentiators are delivered by developing products are generally technologically superior, has newer/better features or addresses specific needs of customers. Sometimes, there usually will not be any changes forced to the product, however, companies might differentiate themselves from competition by products at reduced values. This might be possible by making changes to your processes use within producing employs a powerful. Such modifications meant to the products/processes might be patent best. Hence, when a company feels they will have made some modification that may be patent worthy, it is important to contemplate the idea of having such improvements protected by a patent.

Don't be the product, buy the product!

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