SMEs And Start-ups: Why File A Patent?

A granted patent offers a strong monopoly right which allows an applicant to prevent other businesses from implementing their patented idea. This helps a business create a competitive advantage by securing their place in the market, in addition to regaining the costs associated with developing and commercialising their inventions.

Although this protection is often reason enough for filing a patent application, there are other advantages associated with filing, which may be particularly relevant to start-ups and smaller businesses. In this article we explore some strategic benefits to filing a patent application which go beyond the monopoly protection afforded by a granted patent.