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Ip Rights For Business

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Purpose of IP Rights for business
In today's competitive environment, innovation is the mainstay for every business that leads to development of intellectual property. Identifying, developing, and leveraging innovation provides competitive edge and aids in long term success of the company. Intellectual property is not limited to technology companies, but is valuable for every business which invests huge sums in research and development for creating indigenous products and services.

A company should be proactive in implementing IP solutions to identify novel innovations and increase revenues. A well-defined IP goal can result in achieving business objectives and help position the business as a leader in the marketplace. With growth in business …show more content…

Does the technology pose a threat from the competition? Is there any possibility of merger or acquisition?

Out- licensing patented technologies are a vital part of the intellectual management and to drive more revenues. Therefore, the organization should conduct patent analysis to identify the technology and exploit it further for licensing purposes. A detailed patent analysis helps to identify the organizations patenting in the field of technology, and thus identify opportunities for out-licensing the technology and potential infringement issues.

Building a strong patent portfolio An IP portfolio can act as a shield and sword. A strong IP portfolio helps in protecting company's innovations to drive long term revenues and improve market position. Safeguarding intellectual property is critical for every business and cannot be overlooked. Intellectual property helps in developing and maintaining company's long-term revenue streams and increase shareholder's value. IP also helps companies to protect technology innovations and gain competitive …show more content…

Innovations are crucial for every business success and can be patented to exclude competitors from exploiting the invention during the period. One of the many ways to protect innovation is to file a patent for the invention. A patent is the grant of right to an inventor by the PTO and include objects or processes such as technology or business processes. Generally, a patent is granted for 20 years from the date of filing the application. The right conferred by the patent is to exclude others from making, using, and selling the invention in the country where the protection is sought. Once received, a patent owner can grant license to others to sell or import the invention.

Innovations are important for the long term financial success of the business and make organization more competitive than arch rivals. Organizations need to understand the importance of building intellectual property and use it effectively to devise effective business strategies and achieve long term success in the marketplace. Building a strong portfolio help organizations to market product or services to customers and develop loyalty among

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