How can patents help to stabilize and grow your startup?
This is a guest post from our partner KISSPatent. If your company is looking for ways to gain industry credibility and increase profits, consider how patents can make your company stable. Patents are proven to be of great benefit to small companies, large firms, and individual entrepreneurs. Patents are linked with stronger performing companies and higher levels of employee satisfaction. Both factors contribute to a more stable company. Build your growth from patented ideas.
Consider two Asian companies that are attracting investors: Xiaomi and Huawei. These two companies have seen phenomenal growth. They have also relied upon patent protection. This type of protection as a company grows and expands into international trade and development is vital. A company whose value is in intellectual property and products, resulting from innovative ideas, must be strongly defended through patents and licensing. This protection creates the prospect of stability by being able to rely upon a market that demands the products that the companies produce. A company that can predict what a consumer market will demand can create manufacturing and product plans with confidence.
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Lower investment risk with patents The U.S. Patent and Trademark Office has clearly linked intellectual property with a strong U.S. economy. It is in a company’s interest to protect their most valued property--intellectual property-- with patents and product trademarks. Inventions that are shored up with such protections will be more attractive to investors by lowering risk. If a company relies on investment dollars for research and development, it is vital to patent their innovation.
Gain credibility and appeal with patents One of the strongest qualifiers for credibility is a company that has patented technologies. By patenting its technology, a business can stand out among its competitors as being the sole producer of an in-demand product. There is “peace of mind” for investors, as well as consumers, when doing business with an institution that has invented, developed, or created something. A patent speaks of capability, ingenuity and brilliance.
By patenting, it shows that a company sees great value in their efforts. Patenting and licensing is an effective strategy companies can engage in to shape their business into a model that will attract future partners and customers. DOWNLOAD OUR FREE EBOOK: PATENTS PROTECT INGENUITY HERE
Your employees will thank you for your patents The loss of talent can create instability within a company that relies heavily upon intellectual innovation. Not only does a company have to undergo the process of recruiting new, qualified talent to replace its loss, but there is also the threat that lost talent will find employment with a competitor. Patents are crucial to increase employee satisfaction, which in turn, results in lower turnover rates. The U.S. Patent and Trademark Office research indicates that the use of patents creates greater advancement opportunities, reduces conflicts and disputes, and fosters a spirit of teamwork that results in employees who are more likely to remain long-term with a company.
A patent is also a means for an employer to recognize the intellectual contribution of individuals or project development teams. It is a way to reward the contribution of employees, encouraging more creativity and innovation. This is how inspiration is driven to discover new ways of creating products or re-inventing processes. The brightest minds are matched with the resources of a company so that their potential can come to fruition.
Patent Benefits Abound In addition to creating stability for companies, patents offer a number of other benefits: · Invention theft protection · Higher sale prices can be demanded from consumers, thus improving profit margins · Reduction of competition Patents Are Easy To Obtain An innovative company doesn’t necessarily have to hire a team of lawyers to patent their ideas and products. Through patent DIY websites, every single creative individual or business, no matter how large or small, can get a patent. Use such a platform and grow your business, protect your ideas and keep your employees thriving in a creative environment where they are rewarded for their ingenuity. CONTACT US AT KISSPATENT IF YOUR IDEA NEEDS PATENT PROTECTION!