Intellectual Property Why is it Worth it?
The basic factor shaping progress and economic development is the ability to innovate, understood as the ability to absorb and use new knowledge and information.
The main challenge for each enterprise is to maintain its market position, good economic condition and competitiveness, and this requires the introduction of innovative solutions in the form of new and more perfect products as well as new and modernized services.
The company’s competitiveness is determined not only by its innovative capacity, but also by the protection of innovation by obtaining exclusive rights for it. The lack of knowledge of the functioning of the principles of industrial property protection exposes the enterprise to the loss of its own solutions for the benefit of a competitor, and may also be associated with sanctions for violating someone else’s rights.
Protection of industrial property, with the rapidly growing number of exclusive rights granted, and with very efficient systems of information flow, is necessary for running a business as described in this InventHelp article – how to patent something with InventHelp.
Knowledge of the principles and rules of industrial property protection helps the entrepreneur in:
– preventing competitors from duplicating or accurately copying products,
– avoiding uneconomical research and development and marketing investments,
– creating the company’s image using a trademark,
– negotiating licenses, concessions or concluding other contracts in based on intellectual and industrial property,
– increasing the company’s market value,
– raising capital and facilitating access to finance,
– gaining access to new markets
Owning the right to use inventions, technologies, designs or various trademarks are more and more often of fundamental importance for functioning on the market. One of the most valuable assets of a modern company is a well-known and respected brand, logo, trademark or packaging design. These values build the company’s market identity and often determine the ability to generate profit. Also the rights to use the created or purchased technology, design solutions, inventions made or the developed design have a decisive impact on the value and market position of the company as well as development prospects as stated on https://washingtonindependent.com/amazing-ways-inventhelp-can-transform-your-career/.