A patent provides your company with exclusive legal rights to an invention, preventing others from making, using, or selling the patented product or process without permission.
A patent provides your company with exclusive legal rights to an invention, preventing others from making, using, or selling the patented product or process without permission.
Protection from Copying : A patent gives you the exclusive right to prevent others from copying, manufacturing, selling, or importing your invention without your permission.
Market Advantage : By keeping competitors at bay, you can establish a strong market presence and capitalize on your innovation.
Predetermined Protection Period : Patents provide protection for a specified period, usually 20 years, allowing you to benefit from your invention without immediate competition.
Long-Term Planning**: This time frame enables strategic planning for production, marketing, and recouping R&D investments.
Self-Use : You can use your patented invention to produce and sell products, maintaining control over quality and market distribution.
Licensing and Selling : Alternatively, you can license your patent to others or sell it outright, generating significant revenue through royalties or a lump-sum payment.
Licensing Royalties : Licensing your patent can provide a steady stream of income as others pay to use your invention.
Business Model : Some businesses are built solely on collecting royalties from patented inventions, often combined with registered designs and trademarks for added protection and
Right to Sue : If someone infringes on your patent, you have the legal authority to sue for damages and enforce your rights.
Deterrent to Infringement : The ability to take legal action acts as a deterrent to potential infringers, protecting your market position.
Investor Confidence : Having a patent can make it easier to secure funding for your startup, as investors are assured that your idea is protected from theft.
Intellectual Property Valuation : Patents add value to your business, making it more attractive to investors and partners looking for innovative and protected technologies.
A patent is a legal document that gives you exclusive rights to your invention. It prevents others from making, using, or selling your invention without your permission.
A patent search involves checking existing patents and publications to ensure your invention is unique and hasn’t been patented before.
The patent process can take anywhere from one to three years, depending on the complexity of your invention and the workload of the patent office.
