A patent is a title that recognizes the exclusive right to the inventor of an innovative product to use, exploit and sell his invention, and above all, to prevent third parties from using it, manufacturing and placing it on the market without their consent. This property title has advantages for your innovative project, so we will explain in detail below why a patent is a business tool.
Increase the value of your innovative idea
The right of exclusivity over an innovative idea is not automatically earned only by being the first to have an innovative idea, but as an inventor you must request your recognition by applying for a patent.
Having a patent or utility model of your invention increases the value that investors can see in your person as an inventor and in your project since its title provides the security of protection against potential competencies. Investors and companies that know your invention will be more attracted to investing in your project since having a valid patent represent exclusive economic benefits.
Simply put, patenting your invention substantially increases the potential of your business, since you own an exclusive and competitive product within the market. To get help in this entire process, you can reach out to InventHelp, they help innovators to bring unique inventions and patent them in time.
The patent protects your invention from possible copies and plagiarism
Registering and protecting your invention properly is a fundamental step before you start looking for partners or allies and disseminate information about your idea, as this avoids running the risk of someone else knowing your invention and patenting it before you.
It is important to know that the protection of your invention starts with the delivery of the application documentation trademark office. That is, to make the patent application of your invention automatically ensures the protection of your idea, even before receiving the concession title, so that no other person or company can appropriate your idea or exploit your invention without your consent. That’s where you can reach InventHelp to patent your idea/invention as early as possible.
During the 10 years of validity of the utility model and the 20 years of the patent (as long as you keep your rights in force), no person or company can profit economically from your invention without your consent.
Surely your product is so innovative and useful for a society that it will have a wide market. So do not hesitate to take the necessary steps to protect your invention and find the business that your innovative idea deserves. Take advantage of the years of exclusivity granted by the patent of your invention and work on its exploitation, do not wait for someone else to do it for you!
The exclusivity of the exploitation rights of your invention
Since your invention has a patent you have the right to exclusivity about your invention, so you can decide who can manufacture or market your innovative product. That is to say, that any person or company interested in your invention and that sees in your product a great business opportunity, will have to request your consent for its commercialization by means of the purchase or license of the patent.
The exclusive rights granted by the patent of your invention allow you to market your product with total security. Whether you want to start your own business, manufacture and launch your product to the market, as if you decide to sell or license the patent, you know that your invention and your rights are protected. Having a patent allows you to promote and communicate your innovative project with complete confidence, ensuring that you can reach as many people as possible interested in your invention without worrying that someone appropriates your idea and does business without your consent.
For example, one of the alternatives to launch your invention to the market and start an entrepreneurial business, pre-selling units of the product is through a crowdfunding or collective financing campaign. The invention will reach anywhere in the world, hence it is so important to have a valid patent for your invention ensuring that you own your idea.
Economic benefits: Sell or license your patent
Having the adequate protection of your idea ensures you to be the beneficiary of the businesses that arise from the start-up of the business model and the commercialization of the product. From the moment you submit your patent application, you can start looking for opportunities to exploit your invention, since you will have a file number that will identify your patent and your name as the owner of it.
As soon as your patent is granted, you will obtain the title that accredits your rights to the invention, which will be of great help to convince investors that the idea deserves their support. Therefore, you should think about the patent of your invention not only as of the effective way to protect your idea but also as an essential business tool.
The rights granted by the patent allow you to present your invention to companies, take your prototypes to business meetings, or present your invention at innovation fairs with the security and peace of mind that no one will appropriate your invention.
Of course, it is important to keep in mind that selling or licensing your patent requires extensive communication effort. It is essential that your innovative project has an attractive image, that the explanation of your invention is clear and that your invention demonstrates its high business possibilities.co