Do I really need a Patent?

Patenting is a strategy and works well, depending on where you want to go with your idea. Some inventors and companies choose to make and sell the product as quickly as possible, make their profits and expect that competition will enter the market sooner or later. All without Patent Protection.

Alternatively, Patenting allows the inventor the option to license or sell the idea to a bigger company for royalties or an out-right sale. Of course, Patent Protection helps the inventor or company maintain a monopoly in the market place. Some business people realize that by Patenting the door is left open to create ‘Strategic Alliances’ with other companies (perhaps in other territories) down the road.