There are many advantages to patenting your inventions.
You are granted a monopoly on your invention by the government in your
jurisdiction for a known period of time.
You can license it to others and collect
licensing fees and royalties.
You may also use it as a trading card with a
competitor, e.g., licensing your patent to a competitor, and in return,
obtaining licensing rights to a patent that is owned by the competitor. It is a
very common practice used by large companies to avoid expensive infringement
lawsuits.
You can use it in a public relations campaign to
position your company as an innovator.
However A patent is published for everybody to
see and learn how you have implemented your invention. This is the only disadvantage
that I see. Anybody can implement your invention, after its publication,
without telling you about it. Proving infringement is a very expensive and time
consuming process.
If you wish to keep your invention confidential
for ever, don’t file a patent. Treat it as a trade secret by making sure to
take adequate steps to always keep it confidential like Coca-Cola keeps it
formula secret. The Secret Of Trade Secret Success
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