Why are Patents Important? Protecting Your Intellectual Property

Many people ask, “Are patents worth getting and what substantial benefits do they offer?”  The answer is unequivocally, yes.  The advantages of obtaining a patent almost always outweigh the potential complications that may arise if one is not secured. Especially if you plan to manufacture and sell your product on your own, a patent helps to secure the investment in the design, marketing, and production.  It can also help to position you for investors or to take your company to the next level.  

A crucial benefit in obtaining a patent is that it provides a layer of protection and exclusive rights to the inventor to sell, use, make, distribute, import, or export the product as covered by the patent. This allows the patent holder to be the only one who may profit from the invention. Another financial benefit of owning a patent is that the patent becomes an asset of the company that you exclusively possess. This asset can make you money by simply selling or licensing the use of the patent to somebody else.  If you are an inventor who has invested countless hours, tireless energy, and significant money in creating your invention, then protect yourself with a patent so you can monetize it and guard it from being taken from you by competitors.