Not many consultants or coaches I know tend to think about patenting anything within their business, but it could serve to offer, not only protection for a particular aspect of your business, but also an opportunity for an additional revenue stream.
One doesn’t always think of patents when it comes to service business, but service businesses can patent unique processes they use within their business, and if you’ve developed a unique and successful method for your type of business or industry, it could be patentable.
The reason this could be an opportunity is because with a patent on your specific, successful service business process you can potentially license that process to other larger entities that may have a need for your process. This could allow you to earn royalties or up-front fees -- an additional source of income.
While there is financial reward to be had by patenting your unique business process it also offers protection for your process. This is similar to owning a copyright on a novel your wrote. The copyright protects you against others publishing your work without your permission.
However, to gain such protection your process and application for your patent have to adhere to specific criteria to receive the patent and its protection.
If you’re thinking about patenting a process, or even a product or invention idea, you may want to check out this site: http://2innovative.net/. This organization can help you navigate the world of patents and even help you promote your idea and patent for the benefit of your business.
Posted by: Nick Venturella
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