The Importance of Patents
New inventions arise all the time. It’s how our world grows and expands. Inventions are part of our lifestyle so we can do new things with new technology, products and more. Developments in business, new discoveries, and any other original ideas, products or design all should utilize the power of patents. Patents act as a right of property, protecting an inventor and stop people or businesses from making, using or selling anything that has a patent. Once a patent is issued, the inventor has exclusive protection. The power of patents should not be ignored.
It’s not uncommon for people to confuse patents with copyrights or trademarks, however there are distinct differences. Patents are focused on inventions or the creation of something new. Once a patent is issued, no one else can make, use, sell or import what’s covered by the patent. A trademark isn’t an invention, but a word, symbol, name or device. For more information on trademarks, you can see my introduction to trademarks blog.
There are three kinds of patents: utility, design and plant patents. A utility patent will protect inventions or discoveries of new processes, machines, manufacturing or improvements. On the other hand, a design patent will be granted to an inventor of a new and original design. Lastly, plant patents are granted to anyone who discovers a new plant or asexually reproduces a distinct and new type of plant.
Patents can vary from country to country. In the United States, a patent is granted by the federal government, giving the owner of the patent the right to prevent anyone from using, selling, making or importing the patented invention. This is crucial to inventors as it can help avoid lawsuits and prevent copycats.
When a patent is granted, it raises the value of the invention. A major benefit of patents would be how they establish a business or brand in the field, preventing competitors from extreme similarities. The creation property of patents allow businesses and inventors to own their ideas and inventions.
Keeping competitors at bay is a patented right. Businesses in today’s market need to utilize patents to their potential. Without a patent, anyone can make, use or sell your idea or invention. Any new invention should be patented, otherwise competitors can create identical inventions and call it their own.
Patents provide the necessary protection among today’s market for businesses to grow and expand. Patents keep the credit where credit is due.
This blog was originally published on DavidFurtado.com