The Importance of Patent Analytics for Your Business Strategy
When a company or organization launches a new product, a patent is usually the first published evidence of the invention in the public domain. Patents are essential protections for any innovation-driven company that has a substantial Intellectual Property Rights (IPR) culture.
A patent protects the right of the inventor company to use their product, thereby preventing others from using the invention. Today, patents have become critical factors for businesses to get an edge over their competitors. Patent analytic tools are being used by organizations for various purposes, including development of sound business strategy.
Source: Harrity & Harrity, LLP