The concept of patents can be traced back towards 14th century and yes it even has consistently evolved over time. This is really 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 InventHelp 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 InventHelp permission of the patentee. This set of exclusive rights is granted for a small period of time, and in many the right is fixed to 20 growth cycles.
The exclusive rights granted to a patentee have business impact, some of which 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 methods for monetizing
Engineers and scientists can access an excellent pool of patent information and improvise on existing technology
Competitors will 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 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 procedure product and process development
Build a patent fortress
One among the approaches for improving competitiveness of a business is by having product differentiators. Product differentiators are caused by developing products that happen to be technologically superior, has newer/better features or addresses specific needs buyers. Sometimes, there might not be any changes which is designed to the product, however, companies might differentiate themselves from competition by offering products at reduced value. This might be possible by making changes to the processes used in producing employs a powerful. Such modifications developed to the products/processes might be patent important. Hence, when a company feels these InventHelp people have made some modification that might be patent worthy, it is to contemplate the idea of having such improvements protected by a patent.