The Business Value of Patents

Patents are increasingly becoming a company's most valuable assets. A company's intellectual property can provide businesses with a competitive edge, technological leverage, and strategic positioning within their respective industries. A patent can safeguard a company's innovation and investment by granting exclusive rights to their novel inventions. This exclusivity empowers companies to control the use, manufacturing, and distribution of their patented technologies.

Beyond their defensive capabilities, patents can be strategic offensive tools that allow companies to realize an additional source of licensing revenue. A well-constructed patent portfolio may act as a deterrent against potential infringers but also serves as a negotiation tool during licensing agreements or cross-licensing deals. Finally, patents can serve to bolster a company's credibility and attract potential investors, partners, and customers who recognize a company's investment in innovation. 

As the article suggests, the value of a patent can depend on a number of factors which include the subject matter of the claims, the relevant industry, the scope of the claim set, and the legal strategy to enforce or monetize the rights granted by the patent.