The concept of patents can be traced back towards 14th century and yes it even has consistently evolved over time. The theory of patents was introduced to encourage innovators by ideas for inventions awarding exclusive rights over the improvements in technology made by children. In essence, a patent is a set of exclusive rights granted through country in exchange for a public disclosure of their invention. The rights granted to a patentee, in most countries, include, realize that clean 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 modest period of time, and in many the right is proscribed to 20 years.
The exclusive rights granted to a patentee have business impact, some of which are listed below:
A patentee gets the freedom to enjoy monopoly the particular patented invention for 20 years
A patentee can monetize his how to get a patent on an idea patented invention by selling or licensing out his rights, in addition to other methods for monetizing
Engineers and scientists can access a refreshing pool of patent information and improvise on existing technology
Competitors will have to create non-infringing providers processes
The business impact of patents can be used function the competitiveness of a business. A wholesome, systematic and customized approach towards patents is called for to use 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 means to product and process development
Build a patent fortress
One of the approaches for improving competitiveness of a business is with product differentiators. Product differentiators are generated by developing products are generally technologically superior, has newer/better features or addresses specific needs of consumers. Sometimes, there might not be any changes made to the product, however, companies might differentiate themselves from competition through providing products at reduced values. This might be possible by making changes towards the processes employed in producing your handmade jewelry. Such modifications meant to the products/processes might be patent worthy. Hence, when a company patent an invention feels that they have made some modification that end up being patent worthy, it is crucial to contemplate the idea of having such improvements protected by a patent.