... a patent is a commercial protective right for technical inventions given by sovereign power ...
The patent owner has the right to prevent imitation and use of his protected invention for a certain period of time (10-20 years). This allows the owner to enforce a monopoly price and obtain not only compensation for his efforts in research and development of the invention, but also a disproportionate profit.
Patents are divided into classes (classification) that contain up to 340,000 partitions. On the Internet, anyone can access more than 100 million patents and publications, international search agencies have a database of more than 500 million entries, and approximately 150 of 190 countries are affiliated with WIPO (World Intellectual Property Organization).
The sheer volume of patents may seem daunting, but the 340,000 technical classes clearly show that there are infinite variations of technical solutions that can be protected.
The low filing costs of a patent and good protection from the filing date mean that even individuals can market important innovations.
Especially smaller companies should also use patents to effectively protect themselves internationally against imitation and price dumping and create very good conditions for stable prices, licensing income and market and innovation leadership.
It can therefore be recommended to every company to focus on patent applications of its innovations, as a more effective and valuable protection is hardly imaginable.
There is a wealth of patent and technical options to protect any innovation in a way that meets the needs of the business - this requires experienced practitioners in both disciplines.
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