Patents are Business Tools

Independent on the size of a company, a patent is a tool that should be designed to help the company maintain an advantage in its market. Patents can be offensive tools, asserted against competitors to push them from a market; defensive tools, used to show prior ownership of an invention; marketing tools, used to distinguish and promote specific products; and/or employment tools, used to measure employee growth and input.

 

A company’s decision to pursue patenting its invention should be based on the value the patent will give the company. Similar to hiring a new employee or buying a new piece of equipment, the costs of obtaining a patent should be outweighed by the benefit the patent gives to the company.