The Value of Patents in Your Marketing Strategy
Your patent is your property, an important asset to your company. Paraphrasing the USPTO’s definition, a patent is an intellectual property right granted by the federal government to an inventor to prohibit others from making or selling their invention for a limited time, in exchange for public disclosure of the invention. That being said, a patent offers your company much more than legal protection; it can also play an integral part in your marketing strategy.
While a patent does give you the ability to pursue legal action against copycats, it also helps ensure that you’ll likely never have to. The mere potential for a lawsuit is enough to deter many companies from attempting to reproduce your work. No one wants to be involved in a lengthy, expensive legal battle, especially when it seems clear that they’d be on the losing side of it.
Source: Launch Team Inc.