The concept of patents can be traced back on the 14th century but it has consistently evolved over time. This is really 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 any 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 modest period of time, and in most cases the right is restricted 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 over the patented invention for 20 years
A patentee can monetize his patented invention by selling or licensing out his rights, in accessory for other associated with monetizing
Engineers and scientists can access can i patent an idea 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 can be used functioning . 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 business.
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 an agency is by having product differentiators. Product differentiators are resulted by developing products which are 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 offering products at reduced prices. This might be possible by making changes into the processes employed in producing your handmade jewelry. Such modifications intended to the products/processes might be patent desirable. Hence, when a company feels that they have made some modification that may be patent worthy, it is to contemplate the associated with having such improvements protected by a patent.