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What Patent Strategies Can Supply to Improve Competitiveness of a Business?

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The concept of patents can be traced back on the 14th century and yes it even has consistently evolved over time. Carrying out of patents was how to patent an idea or product introduced to encourage innovators by awarding exclusive rights over the improvements in technology made by them. In essence, a patent is 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 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 smallish period of time, and in many 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 over the patented invention for 20 years

A patentee can monetize his patented invention by selling or licensing out his rights, in product idea accessory for 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 products and processes

The business impact of patents can be used function the competitiveness of an online business. A wholesome, systematic and customized approach towards patents is critical to use 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 procedure product and process development

Build a patent fortress

One for this approaches for improving competitiveness of an organization is by having product differentiators. Product differentiators are generated by developing products are generally technologically superior, has how to patent a product newer/better features or addresses specific needs of consumers. Sometimes, there might not be any changes which is designed to the product, however, companies might differentiate themselves from competition through providing products at reduced pricing. This might be possible by making changes towards processes used in producing your handmade jewelry. Such modifications made to the products/processes might be patent best. Hence, when a company feels that they have made some modification that may patent worthy, it is very to contemplate the idea of having such improvements protected by a patent.
 

Posted May 12, 2017 at 2:38pm

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