5 Advantages of Getting a Patent for Your Startup
A patent is a legal authorization given by the government to protect your work from being used or sold by others. Taking a patent for your invention is the right thing to do because it protects your ideas and yourself. There are people out there that don’t want to acquire a patent since they believe it’s hectic and time-consuming. The other reason why we still have unprotected inventions is that they don’t understand why they should bother themselves getting a patent. Here are some of the reasons that we believe will convince you to go for it. You can also check this useful tool for more info about getting a patent.
You the right to prevent other people from entering the market. When you have a patent for your inventions you have the rights to sue anybody who gets into the market with your invention. This means you will be able to reap from your ideas without the worries of people copying your ideas to compete with you. A design patent will keep you covered for 15 years and a utility patent will cover you for 20 years.
In case you want to enjoy higher prices and profits then you should have a patent. In case you are in a market with stiff competition high prices will make the customers shift to your competitors. But now that you can eliminate competition then you can be able to raise the prices as you want so long as clients can afford and this will mean more profit.
Leveling the playing field is the other advantage that you can get when you have a patent. Big companies make big budgets for their marketing but believe me with your innovations patent you will be on the same ground with them.
Being able to transfer, sell or license your patent is the other good thing about it. Patent transfer, licensing or selling are the options that you have in case you don’t need to keep watch over of your ideas. Whichever the way you choose you can be sure to get good money from your patent.
The last benefit to discuss here getting a patent is that there are no more secrets. The public will know about your innovation the moment you get a patent for it. Browse for tips om how to get a patent here.