Now you have got the patent for your invention, your business will now grow and your monetary benefits will rise. But the question arises, is getting patent for your invention enough for the business to grow? The answer is no, because daily thousands of new discoveries are made, and if you will not change with the demand in market, your business will start declining. This is where, the patent watch service providers come for your help.
To know more about it, you need to keep reading this article, it will clear all the doubts you had in your mind to take effective actions on your patent portfolio.
Also read: Patent Watch: An overview
The real meaning of “Patent Watch”
It keeps a watch on all the patent processes going around you. It involves keeping check on patent application filings, gives you information on published and un-published patents, it also tells existence of any non-patented literature that concerns your invention.
By now you must have understood that the term, patent watch is self-explanatory as it helps you constantly monitor new discoveries and prior patents. Thus using this information you can modify your existing patent, by investing wisely in the R&D. This in return will make your business flourish more and you will be able to make justice to it.
Also read: Importance of patent watch
Scope of using patent watching services
Going with this watch service, you can monitor the new patents acquired by your competitors and hence by analyzing the competition you are going to face, required R&D can be done to minimize the competition.
You will also get to know the expired patents of your competitors using this service. Hence, you can easily capitalize on expired patents and bring the required changes in it before your competitor does something about it.
Also read: A Vigilant Eye on Patents
Patent Watch – Avoids danger of infringement
As stated earlier, using patent watch service gives the information of all the existing and coming patents in the market. Thus, if you have a patent that infringes the patent rights of owner owing it prior to you, then you may be sued by the patent owner.
Hence, using this service, you can avoid developing such patents that already exist. Further if you already have an infringing patent, you can modify it after getting all the details of existing patent. You can also interact with the patent owner and acquire the license of his patent. It prevents you from legal actions from patent owner.
Or if you feel that, you are the legible owner of the patent then you can invalidate the patent of your competitors by sharing the evidences at patent office and sue him for infringing your patent rights.
Also read: Different techniques used in patent watch
Who provides best patent watch services?
To protect your business and remain competitive in market, you need patent watch services. Hence, the professional you would be choosing must provide you with accurate reports else your time and money are both going in waste. Thus, the best choice for is “The Patent Watch Company”.
We offer you the timely and most accurate reports generated by our professionals who have experience of 10+ years. Thus we give you a clear idea of patents that can hamper your business. You can hire us for the duration you want as per your need. Our services are available in 100+ countries, and we provide wide and most flexible coverage to you.