Benefits of Patenting

We all know that patenting nowadays isn’t easy. In many times due to the paperwork complexity, legal skills required, we choose to hire attorney or law firms. Also, finances and time are to be considered when filing a patent application. But have we ever given a good thought on its benefits? Here you have the main ones that will surely make you want to protect your ideas with a patent:
➡️ Exclusive rights – By obtaining a patent you simultaneously are provided with an exclusive right to prevent or stop others from commercially exploiting your invention.
➡️ Return on investments – Many innovations require a considerable amount of money and time so only through exclusive patent rights, you may be able to get a high return on investments.
➡️ Opportunity to license or sell the invention – You might not exploit the patent yourself but still, you may sell it or license the commercialization of the patented invention to another enterprise and get profit.
➡️ Increase in negotiating power –You will prove to be of considerable interest to the enterprise with which you are negotiating because of your higher reputation due to patents.
➡️ Positive image for your enterprise – Patent portfolios serve as a demonstration of the high level of expertise, specialization, and technological capacity within and outside your company. This may prove useful for raising funds, finding business partners and raising your company’s market value.