Why to patent your business idea - PowerPoint PPT Presentation

Title: Why to patent your business idea


1
Why to patent your business idea?
When you are an entrepreneur you realize the need
to patent your business or new product idea, so
that your intellectual property is properly
protected and no one else can capitalize on it.
At the same time, you would also need to see if
your idea is marketable, worth being patented or
when to patent it etc.
For this purpose, you will see how market
research services and patent research
services can be helpful. Lets consider the facts
mentioned below
2
Market research can help In order to understand
if a product is marketable or can be capitalized
on, you would need to consider the industry
trends, the target market, purchase preferences
for customers, marketing strategies and analysis
reports on competition etc. This is where market
research services can be helpful delivering
reports such as Market entry reports, Market
size and segmentation reports, Market feasibility
and trends, Market research surveys, Customer
analysis/ consumer behaviour, Risk analysis,
Industry reports and overview, Competitor/
opportunity analysis and overview, Brand
research, Analysis of the Data and surveys,
Information and overview of key player in the
industry, Product research inclusive of SKUs,
Pricing, Technical Specifications, Design and so
on. After you come to identify the marketability
of your product, you will have to see if your
idea is patentable or if it is even worth
patenting it. So, lets see how patent research
service can help
How can patent research help? Begin by
understanding what patent and its different types
of patent such as design patent, utility patent
or plant patent is. Find out which best suits
your business requirements and see how it can be
beneficial for your business idea. At the same
time, consider doing a thorough patent research
to see that your idea has not been patented
before by anybody, and thus go on to protect your
intellectual property. Under patent research,
the services include Right to use/ Freedom to
operate an idea or product, Patentability
search, State of the Art / Novelty search,
Invalidity / Infringement, Licensee
identification, Validity of the patent,
Determining the owner of the patent, New
patenting opportunities and so on. From here, you
can infer that a complete analysis on the basis
of the market research and patent research
reports will help to confirm that your idea is
worth being marketed and will bring profit, thus
emphasizing on the need to patent it.
More clarifications send mail inquiry to
sales_at_outsourcedataworks.com