The concept of patents can be traced back towards the 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 over-the-counter improvements in technology made by these businesses. In essence, a patent is really a set of exclusive rights granted with country in exchange for a public disclosure of their invention. The rights granted to a patentee, in most countries, include, the particular 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 smallish period of time, and in instances the right is proscribed to 20 ages.
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 a good pool of patent information and improvise on existing technology
Competitors can have to create non-infringing services processes
The business impact of patents could be used to enhance the competitiveness of a legitimate income opporunity. A wholesome, systematic and customized approach towards patents is called for to make use of the power of patents to positively impact your sector.
4 fold approach for 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 your approaches for improving competitiveness of a business or company is by having product differentiators. Product differentiators are resulted by developing products will be technologically superior, has
patent ideas newer/better features or addresses specific needs clients. Sometimes, there may possibly be any changes which is designed to the product, however, companies might differentiate themselves from competition by offering products at reduced deals. This might be possible by making changes towards processes implemented in producing your handmade jewelry. Such modifications assisted to the products/processes might be patent desirable. Hence, when a company feels may have made some modification that might be patent worthy, it is very to contemplate the idea of having such improvements protected by a patent.