7 ways acquiring a patent can drive value to your business, and how to get started with patents.
As brand builders, there are many decisions we face regarding our intellectual property and how to protect our proprietary information. Trademark protection is the most commonly considered way to protect a company’s brand. Copyright protection can provide limited protection for written works, certain media, and software. Then there are ideas and technologies that can really benefit from patent protection. The question is, which idea should you file a patent for, and more importantly, what value will a patent bring to your organization?
Our partners over at The IP Link guide businesses through the patent filing process – from developing a patent strategy to working through the due diligence and technical writing required to successfully file for a patent.
They posted this article: Should you be considering patents? What value could they bring?
The article highlights 7 key value drivers that applying for a patent can bring to your business. We have provided the shortlist of benefits below:
1. Reduced need for confidentiality.
2. Improved credibility.
3. Investor confidence.
4. Additional revenue, potentially in the short term.
5. Increased net worth.
6. Competitive differentiation.
7. Better negotiating position.
Read the article in-depth to learn more about each of these value drivers or talk with The IP Link about starting your patent exploration process.