State of Innovation

Patents and Innovation Economics

Reasons for Obtaining a Patent

Note that this post is based on free audio CD, titled How to Make Your Patents a WMD- Weapon of Market Domination.  If you want a free copy of the audio CD click here

Now that you have an idea of what rights a patent (see Rights Obtained with a Patent) will provide you, I will discuss the major economic reason for obtaining a patent.  You should not be interested in non-economic awards, ego-boosters or that-a-boy reasons for obtaining a patent.  But if you are, you might as well quit listening this program now.  The single most important reason for obtaining a patent is to obtain a market advantage that generates dollars.  The fact that a patent provides you a property interest in an area of technology should give you some marketing advantage.  For instance, the patent might prevent your competitors from offering a certain feature and this feature means you sell more of your products or services or a patent might lower your manufacturing costs or raise your competitors and now your margin is higher or you sell more products because you can sell for less. Read more »

June 3, 2009 Posted by dbhalling | Uncategorized | | No Comments Yet