Patent as a new competitive tool in company's overall business strategies

Abstract

In today's fast growing global marketplace, patent protection becomes an important part of a company's overall business strategies. Under the WTOrrRIPs Agreement, the patent system has spread increasingly worldwide. In today's technology industries, competitors are likely to use patents both offensively and defensively, and there is a need to anticipate their strategies and take effective action. Why? The right patents provide barriers against competition, enhancing profit margins, market share, and name recognititon. Thus, patent is a useful strategic business tool.