A patent is an effective tool to protect your rights over your invention against those who would try to replicate it. For a company patent would be a formidable tool and the business may suffer in the long run of you do not get a patent for your innovation. Given below are the reasons that you should patent your invention.
Protects trade secrets and trademarks
Many people across the world would just use your trademarks and continue to sell spurious products or indulge in nefarious activities which would damage your credibility. By trademarks you can protect your identity and make the customer aware of the frauds operating in your name. The trade secrets like the Coca-Cola recipe can be protected through patents as it has been invented by the company.
Recognition for your efforts
Patents help to assign the credit for the right person and ensure that the recognition and profits reach the real inventor. It is also a useful tool to understand whether the research you are undertaking is duplication because it is important not to waste money in inventing something what is already invented.
Patents foster research
Academic research is the bread and butter for many agencies like universities and research labs. The patents help to pay for the facilities and resources needed by the scientists to continue the research. If it was not for patents it would not have been possible of many researchers to claim the invention as their own. If you have new invention, contact the Patent attorneys.
By patenting you are locking away financial resources for your company which would ensure long term competitiveness and prosperity for the company. Patents are not a very expensive process and can be easily undertaken by any inventor.
The companies many times search the net for suitable inventions as they feel that it is riskier to innovate new things in house and many find it easier to acquire a patent and market the same. For the patent holder this is a sure way to riches and prosperity.