When you are the proud creator of an original concept or an idea or an invention you, of course, want to share it with the world and earn profit from it. But before even you start to earn profits out of it you must get a patent for your invention.
Why? To answer your question, we give you 5 reasons for getting a patent for your invention. We are pretty sure that after this blog your next search would be “patent almak patent nasıl alınır” or how to obtain a patent.
But before that let us take a look at the reasons why obtaining a patent is significant.
Security against theft of Intellectual property
This is definitely the most vital reason why you should be applying for a patent. When you have a new and original idea or a concept or an invention it is impossible to present it to the market without prior interaction with the investors, manufacturers and other parties.
You cannot expect to commercialize your inventions until you collaborate with these parties outside of your company. But interacting with them means you need to give full details about your invention. And you never know who can imitate your creation and introduce it to the market. Therefore, earning all the credits for it.
This is where getting a patent can save you from facing this kind of circumstance. A patent safeguards your original and new design, concept, process, idea or invention from being illegally depicted or imitated by any party.
No one can gain access to your creation without your consent and if they do you’ll be able to sue them for patent infringement cases.
Increase in Market Position
A patent portfolio is a compilation of patents that are owned by a particular entity, for instance, an individual or a corporation. These patents may be related or unrelated. The patent applications could be also enclosed within this portfolio.
Creating and developing a high-quality patent portfolio will ensure that you are constricting other companies to compete against your specified niche. This has a direct positive impact on your company’s market position.
However, an increase in market position means you will get a higher return on investment. Since the competition in the market for your company is reduced considerably.
Earn more profit out of your invention
You may or may not know this but licensing your intellectual property could be a prime source of income for you. It does not matter if your business is not enabled for manufacturing or marketing, you can rely upon other businesses for fulfilling these tasks.
Manufacturing of products and implementing marketing strategies are some of the essential processes of doing business. But let’s say you don’t have enough manpower or essential people in your hand to do all this for your business. What do you do? Well, you can get your property licensed and give these responsibilities to other businesses.
You can earn your profit without even putting effort into marketing and manufacturing. This is only possible when you have a patent for your invention.
Protect the company’s capability to do business
Well, this in simple words means that if you don’t patent your intellectual property then someone else shall definitely do it. This can result in an increase in competition in the market or even worse, you may lose all your rights to compete at all in the market.
Not getting a patent for your invention could bring you a great deal of misfortune for you. Since this will result in someone else getting benefit out of your creation since now that someone other has done a patent before you.
Additionally, all your investment would be good for nothing. The circumstance could only get worse by not getting a patent. You have to deal with costly legal battles over your own invention.
Build your image
Maintaining a top-notch patent portfolio means that you are serious regarding your invention and committed to developing. The investors and other partners who are attached to your business shall perceive a higher level of quality, expertise and innovation of your company.
This may earn you an increased amount of investment towards your business. The partners and investors related to your company shall also feel secure knowing that you have legally secured your intellectual property which ultimately protects their investment as well.
These are some of the significant reasons why you should positively get your invention patented. Now that you are ready to get patent, move over to the next step of patent almak patent nasıl alınır for completing your patent process.