Patents, as a bundle of exclusive rights provided to inventors and assignees, can help your business in many ways. Primarily, the patents can help protect your invention when it goes public, and can prevent your competitors from making, using, selling, offering to sell, or importing the claimed invention. This in turn helps to gain a market advantage over the competitors. Further, freedom to license your patents may help secure an additional revenue. For example, if a technology that has potential market value has been patented by you, then your competitors or those who are interested may approach you and get into a license agreement with you which will allow them to use your patented technology subject to certain conditions. A strong patent portfolio can also help you to secure cross-licensing deals with other major players in the market, to support your innovations, and thus your business. Further, in the current scenario in which Patent rights are widely used for securing financial as well as market advantages, having a strong patent portfolio can increase your company’s value, and can attract many larger companies, and can increase chances of an acquisition deal.
There are many IP firms and patent attorneys in Hyderabad, who can help you when it comes to different activities related to patent procedure such as, but not limited to patent searching, specification drafting, filing, and prosecution. So, when you are in need, whom will you approach? I would say the sole selection criteria should be quality of work. Quality patent attorneys can help you identify the best way you can put across your invention initially to the patent office (i.e. the examiner), and later to the public, such that chances of obtaining a patent grant is more, and chances of someone else finding a loop hole and violating your rights is less. So, approaching the right patent attorneys is the key to patent and business success.
Businesses at Hyderabad and other locations prefer to work with BananaIP for the following reasons: