A patent can greatly add to the value of both a product and the business. It frustrates competitors. It gives the patent owner a stronger position when negotiating with customers and it is within the financial reach of almost every company.
Whilst our multinational clients are patent specialists our smaller and medium sized companies grossly underuse them. This is usually due to a lack of knowledge about what patents offer and how to apply for them or because they mistakenly assume that patents are prohibitively expensive. Eureka! AgResearch has eight granted/pending patents. Our staff are inventors on another 12 owned by clients but this number should be over 50. About 80% of patentable ideas were never protected!