The concept of patents can be traced back to your 14th century but it has consistently evolved over time. The thought of patents was introduced to encourage innovators by awarding exclusive rights over the improvements in technology made by them. In essence, a patent is really a set of exclusive rights granted any country in exchange for a public market an invention idea disclosure of their invention. The rights granted to a patentee, in most countries, include, the right to exclude others from making, using, selling, importing, offering for sale or distributing the patented invention without permission of the patentee. This set of exclusive rights is granted for a smallish period of time, and in most cases the right is limited to 20 lots of years.

The exclusive rights granted to a patentee have business impact, some that are listed below:

A patentee gets the freedom to enjoy monopoly the actual years patented invention for 20 years

A patentee can monetize his patented invention by selling or licensing out his rights, in accessory for other methods for monetizing

Engineers and scientists can access an excellent pool of patent information and improvise on existing technology

Competitors can have to create non-infringing services processes

The business impact of patents can be used develop the competitiveness of a business enterprise. A wholesome, systematic and customized approach towards patents is called for to use the power of patents to how to submit a patent positively impact your business.

4 fold approach for enhancing competitiveness

Build a patent fortress

Proactively safeguard your business interests

Respect others market an invention idea intellectual property

Intelligent approach to product and process development

Build a patent fortress

One among the approaches for improving competitiveness of a business or company is by having product differentiators. Product differentiators are delivered by developing products will be technologically superior, has newer/better features or addresses specific needs of consumers. Sometimes, there will most likely not be any changes forced to the product, however, companies might differentiate themselves from competition by offering products at reduced pricing. This might be possible by making changes to your processes present in producing your handmade jewelry. Such modifications assisted to the products/processes might be patent important. Hence, when a company feels may have made some modification that may patent worthy, it vital to contemplate the idea of having such improvements protected by a patent.