Top 5 reasons why a patent is important for any innovation?

Top 5 reasons why a patent is important for any innovation?

 

·         Patent gives complete right

Owning a Patent will give you the complete rights to protect it from others taking advantage of your Idea or innovation. It provides the Patent owner the right to prohibit others from using the invention which has the patent rights and also prevents our innovation from our competitors, only the respective person who owns the patent rights can decide whether the necessary person or company can use his invention.

 

·         Patent supports your business to enrich

A Patent can help your business to grow and gain more profit but it can be done only if you own a patent for the invention. When you own a patent for an invention which has high demand in the market you can make a lot of money and other person competitors can use it only with your permission. If the inventor cannot produce the resources needed for his invention then he has to buy the technology from the registered patent owner.

·         Technology Transfer

 

Technology process is a complicated process which includes several non-scientific and non-technological factors. There are so many factors for a successful technology transfer, Successful and quality research results alone cannot make the technology transfer successful, other factors like skills, awareness, and access to fear finance and IP management are also necessary for successful technology transfer.

 

·         Easy to get investors

 

Many Inventions are stopped in between due to the lack of capital or funding needed for the inventions. If you have a patent for your invention securing an investor like venture capital or angel investors will be easy. Investors will trust if they see your invention is having patent and the innovation is something new which going to create an impact.

 

·         New Market Exposure

 

A Patent may also business value to enter in to new markets using merger, joint venture and partnership. Portfolio will give additional advantage to the company which will be useful for start-ups and investors    to get in to new markets with new business partner

 

File Patent for your innovation easily (PatentFiling in India)


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