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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