What are the most significant advantages of a patent?

In general, a patent can convey significant monetary benefits to its owners. It protects the owner’s market share from competitors and bar them from duplicating the invention. Essentially, the owner has a legal monopoly over the invention, can set prices and restrict how and where the invention is sold. Furthermore, a strong patent portfolio and well-drafted patents can attract investors. Patents have potential value in three ways: Offensive, defensive and valuation.

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