Is a Patent of a benefit to business?

A patent is right or protection granted to an inventor by a country, allowing the inventor to exclude others from making, using or selling his or her invention in that country during the life of the patent, “Joe Hadzima, senior lecturer MIT School of management”.

What is business?

It’s all about getting things you want to do, your passionate beliefs in life, the goals and objectives you desire to achieve in future. Business makes things get done and it’s an effect to every part of societies and communities. So all what you need to do, the better understanding of what business is can help you to attain all your endeavors in life.

It is a tricky idea to keep aside of business news and you don’t be aware of the common contested patent litigations nowadays. So for example if you have a patent on a jug to hold milk, and I have a patent on a handle for a jug, probably I can prevent you from putting a handle on a milk cup and you can prevent me from attaching a cup on a handle and Currently Samsung and Apple have been fighting over whether Samsung infringed a patent protecting the popular iPhone design.

Innovation and time difference of patents

The great gain of a patent and protection of patent right is enriched in the constitution, that grants inventor the exclusive rights to his or her discoveries in order to promote the progress of business and the aim was that we should all benefit from the discoveries of other peoples’ innovations. To promote your business investments, you as an inventor of a new business idea must ensure that you have been granted the exclusive rights to manufacture, use, and sell or import those products for a specified period of time.

There is need to be aware of  obtaining a written “non encroachment” opinion from an independent lawyer before introducing a product will help to overcome a unruly contravention claim. Many companies have seen a patent portfolio as an imperative issue to business even if they have not strategically planned the program of enforcement litigations and believe that having a patent portfolio allows them to settle claims against them by cross licensing. 

 

Patents in business are vital in letting one to allow someone else to manufacture his or her invention on agreed terms or take legal action against people who may be using your invention without seeking you permission as we put in mind that business is an undertaking of your beliefs, protecting it more essential and if dealing with business partners, they should first seek permission before producing the related products. Especially if you are dealing with innovations that solve a long a bigger problem, they should be given a greater financial reward by way of longer patent terms than those that solve smaller less worrying problems.

For example the inventor of the cure of diabetes may receive a patent lasting 15 years, as the one who develops software applications saving people from computer mouse clicking as much as many times when buying diabetes drugs online may receive a patent lasting 8 years. We have to recognize that the patents granted to us for our business progresses are vital and valuable, and people are enormously rewarded for their new inventions and innovations in business.

For you want to protect the way your business idea works then patenting is the best solution and the appropriate option to be taken.