There are several reasons for applying for a patent.

A patent gives you exclusive rights to your invention, preventing others from simply using, selling or manufacturing your innovation without your permission. This allows you to recoup all the time, effort and investment you have put into developing the product. At first, patents often seem expensive, but if you compare the cost with the total cost often involved in developing a new product, it is often only a very small part of it.

Patents can also be an important part of a company's value. Having a strong patent portfolio can make your company more attractive to investors and potential partners. It shows that your company has valuable intellectual property rights, which can highlight its growth potential and stability. Also, the patent portfolio contributes to the company's image.

A patent can also generate income directly. By issuing a licence, you can grant another person permission to make or sell the patented product, on payment of licence fees. This can be very lucrative if the patented is widely applicable in different sectors. Selling a patent is also an option. This can be a source of income or used strategically to enter into collaborations.

Having a patent can make it easier to obtain funding for research and development, as it can be interesting for investors and grant makers to invest in intellectual property eligible for patent protection.

Finally, when large taxpayers want to use the innovation box, a patent can act as a second ticket. More information on this can be found here.

You read it, plenty of reasons to apply for a patent. If you have an invention, or want intellectual property advice, contact us. A simple e-mail to info@custos-ipc.nl suffice. Should you prefer telephone contact, please check our contact page.