We interact with patented products on a daily basis. Many times it’s the unique product functionality or services offered that we benefit from. Patents enable inventors to protect their technology and process innovations. Patents are the lifeblood of most technology-driven companies, enabling them to establish a competitive advantage and drive business growth.
In many industries patents have been used as weapons to battle for market supremacy. This has occurred most notably in the high technology, medical devices, chemicals, and pharmaceutical industries.
This module is part of the intellectual property primer series. The goal of this series is for you to distinguish each type of intellectual property and its benefits, identify methods of securing protection, and recognize the risks related to mishandling intellectual property.
After completing this module, learners will be able to:
- Describe a patent.
- Explain the importance of obtaining a patent.
- Discuss who can apply for patents, when they are enforced, and where they apply.
- Describe the factors for patentability and methods for evaluating the patentability of an idea.
- Recognize the different types of patents and recall examples of items that are patentable.