Patent Protection Benefits to the Inventor
The first of three patent protection benefits is an exclusionary right. A patent erects a barrier to enter so that others cannot compete against the inventor. They would not be able to introduce their version of the patented product into the marketplace. If competitors do enter the market, the inventor could sue competitors and make them “disgorge” (i.e., give back) profits and enjoin them from engaging in (i.e., stop further) sales and marketing efforts.
Although the inventor cannot sue the competitor immediately after filing the patent application, this is not a good reason to forgo patenting the invention. Filing a patent may be an important part of a successful long-term business plan, despite the time for your patent application to mature. For example, competitors who market the invention before the United States Patent and Trademark Office (USPTO) has granted the patent may later become licensees that must pay royalties on the issued patent. Competitors who market the invention before the patent issues also help create a demand for the patented invention.
Source: OC Patent Lawyer