Patenting your innovation can be really important if you plan on making your whole business around that product. Let’s say you come up with a product that you want to produce and sell, you start, and you see some of the competitors are copying it and making it as their own. That will hurt you a lot. We know how hard it is to move from an idea to a whole product but only that, competitors trying to copy your product will hurt your business the most.
With a simple patent, you can hold your product just for you but you can also make a license to sell to other companies and get money from them. If you plan on holding it, you are sure that nobody will produce that product and sell that product. If you already have a patent, InventHelp recommends you sell it to some company willing to buy it from you.
Keep in mind, that there are fewer companies that will approve your idea and buy it. In case they do, read the documents before you sign them because you may be left without permission to use your own idea, and you will lose more money that way.
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