Advantages of Obtaining a Patent

Electronic circuit

A granted patent can help you to prevent others from using your invention. If you are exploiting the invention yourself, the patent can give you a monopoly in the market.

A granted patent is a valuable asset in licensing your invention for others to use. A third party is likely to be more interested in paying you for the right to use your invention if it is protected by a patent.

Even if your patent is not granted, the publication of the application will prevent others from obtaining a patent for the same invention, which might otherwise curtail your exploitation of the invention.

A granted patent is often viewed as an officially sanctioned badge of quality or merit for the invention. Although this is not the intention of the patent system, many see this as a valuable asset.