Pros and cons of a patent application
The advantages of filing a patent application vary.
It is not absolutely essential that you want to take action against third parties who infringe your patent law.
Strategic considerations can also play a role.
Acquisition of an exclusive right
By filing a patent application for your invention and then granting it, you have the exclusive right to prevent third parties from using your invention.
Advantages in the search for investors and cooperation partners
Especially for potential investors, patent protection can be an essential criterion. Patent protection shows the investor that the invention has already been examined by the patent office & for its patentability and that you have a monopoly on the invention in question, so that initially the distribution of the product by competitors is to be expected or competitors can be forced to stop infringing actions by court if necessary. Patent protection can also be helpful in negotiations with potential cooperation partners. If patent protection is not yet available, the potential partner often tries to obtain a signed confidentiality agreement before starting negotiations. Often the confidentiality agreement is not signed for various reasons. In contrast, a patent already granted demonstrates that you have an exclusive right to the invention.
Commercialization of the invention through licensing
You do not have to maintain your own production. You can also exploit your invention in such a way that you grant licenses to third parties for your patent. There are different licensing models.
Third parties can no longer apply for a patent for the invention
By filing a patent application you can avoid that third parties, e.g. potential business partners with whom you have conducted negotiations, apply for the patent and then stand in the way of your later commercialisation of the invention.
The disadvantages of filing a patent application can vary.
By disclosing the patent you reveal essential information
If no further know-how is required to reproduce the invention in question, there is a risk that the invention can easily be reproduced by third parties. In this case, however, the patent offers you a right of prohibition.
The invention is easy to circumvent
As far as your invention can be circumvented by similar procedures that cannot be protected, the intended patent protection must be reconsidered.