Why patent your invention?

For many companies patenting is not the first thing on their minds. It does not come cheap and yields few results in the short run. Especially at the beginning of the procedure patenting costs may appear prohibitive, but companies would not invest in it if it did not produce any results. A patent generates income in due course because you are the only one who may exploit your invention and thus you can increase your market share, negotiate a higher asking price, expand your market, grant a licence under your patent and thus allow your licence to generate income. In addition to financial advantages patent protection provides many other benefits. A patented product is more attractive for investors and buyers. A patent also represents value on your balance sheet, deters competitors and creates a professional and innovative impression on the market. Moreover, if you are attacked by another party, patent protection increases your bargaining power.