The Importance of a Patent Strategy for Business of all Sizes

Patents play an important role in establishing and solidifying a competitive market position for many businesses. Patent strategies can vary by industry and will depend on the size and stage of a business. However, having a robust patent strategy can help businesses of all sizes secure their market position and avoid potentially damaging setbacks.

Resource scarcity is an issue we encounter frequently, particularly with small businesses and start-ups. Whether due to limited time or limited funds, patenting can at times seem like an unaffordable luxury for a start-up or small business. However, patents can contribute directly to growth and development of a company even at the early stages. Taking time to think about the role patents can play and establishing a patent strategy from the very outset can provide immediate, and long-lasting, dividends to the success of the business.

Source: Mondaq® Ltd

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