Benefits of Patent Protection
Some of the benefits of patent protection include: Learn more here.
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 Orange County. Learn more about Working As a Patent Attorney.
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.
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.
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