Patenting your creation also allows you to avert others from making, using or selling your invention all through the United States without your consent. A patent is also one of the few assets that can increase in value over time. A patent also increases the worth of your business because it is measured a valuable asset by banks and potential purchaser of your business. There are many ways to financially benefit from a patent.
Your patent may be sold absolute to another for monetary remuneration. You may also license your patent to one or more parties for a percentage of the sale price. You may also be the exclusive producer of your invention. Whether you are a business or an autonomous inventor, a patent is a valuable asset and is needed to protect you from depraved individuals who could benefit from your hard work. A patent gives you the right to stop others from copying, manufacturing, selling, and importing your creation devoid of your permission. The survival of your patent may be adequate on its own to stop others from trying to exploit your innovation.
If it does not, it gives you the right to take legal action to stop them exploiting your innovation and to claim damages. A patentability search attempts to approximation the scope of patent protection the Patent Office will grant to you for your invention. The broad consideration may be patentable if the prior art does not show your invention's generic concept. On the other hand, if there are numerous prior art references comparable to your invention, then limited patent protection may be possible. The search attempts to uncover the most relevant references.