What are the benefits of a Patent

A robust and comprehensive patent informs the world you are the legal owner of the disclosed material e.g. product, invention, specification and grants you the exclusive right to freely pursue it (without competition) within a specific territory.

 

Whilst the existence of a patent may be enough on its own to stop others from trying to exploit your invention, a patent provides the mandate to take a legal action under civil law against another should they decide to exploit your invention without your permission.

 

A patent allows you to :

 

• Sell the technology you have created to another for a one off fee.

• License the technology you have created to another (retaining all the IP rights) for a royalty payment.

• Discuss your invention / technology with others in order commercialise / monetise its potential e.g. set up a business based around the invention.

 

Importantly...

 

A patent is an intangible asset that provides potential licensees, manufacturers, investors with the confidence to invest in or collaborate with the you, knowing any investment they make will be underpinned by a legal right.

​

A patent provides a time-limited monopoly, allowing the holder to control who can use, sell, or license the technology. This exclusive control creates a powerful incentive for others to invest or partner, as it limits competition in that particular space for a defined period.

 

Without legal protection, it's difficult to secure investment or partnerships because theres nothing to prevent others from replicating the idea or product. Anyone could enter the market. This not only dilutes the value of the original idea or product, it goes against what licensees and investors typically look for -

a legally protected competitive advantage.

 

Without a fortress of barriers that creates a competitive edge and prevents others from reaching a particular market, very few if any, licensees and investors will engage and collaborate.