Benefits of Patent Protection

You will find so many benefits about patent protection if you are an invention of ideas. You can get information about some advantages you will get for your intellectual property or patents when you consult professionals at The Buche Law Firm, PC, Austin. They will give you all the necessary information you need.

Market Share Expansion

When you have a patent, you can license it to others in a different market or geographical market. You can license patent rights to another business with a market presence in a different state or country as a patent owner transacting business solely in Austin Texas.

Encourage Settlement

As the owner of a patent, you can assert various claims against another party, including patent infringement during litigation. In some situations, there can be an agreement between two patent owners to cross-license the respective patented technologies instead of litigating the issues.

Reduces Competition

Your patent will be a barrier to entry for competitors who are contemplating entering the market for the patented service or widget. There may also be a consideration of the competitors’ patent infringement risks than the reward of potential profits. Also, patentees can enjoin competitors from offering a competitive product by asserting their patents against them.