Patents provide monopoly protection to safeguard technological innovation which are often the product of significant investment in research & development. The scope of patentable subject matter is vast, ranging from devices, products and processes, through to formulations and compositions, information and communication technology, pharmaceuticals and biotechnology, to business methods.
Patents give enterprise a sustainable competitive advantage not solely because Patents play a pivotal role in securing future returns on investment but also because the strategic use of patents can generate new revenue streams and attract investment capital.
But the world of Patents is changing. It’s all different. What you’re allowed to patent, where and what has been patented before. Patents used to be all about the technology, correctly describing the invention. They still are but patents are harder to get and to defend. So they’re also about which part of the invention to patent.