Advantages of Patenting an Invention The granting of a patent to said invention grants the owner the exclusive right of manufacture, use and commercialization according to the claims indicated in the application. But what are the benefits of patenting an invention? Market positioning: the exclusive exploitation rights granted by the State allow the owner to obtain a competitive advantage for a period of 20 years from the filing date of the patent application. In this way, the owner has the power and the right to prevent third parties from commercially using their patented invention, allowing the owner to acquire a prestigious position in the market. It is an intangible asset for the company: As the owner of a patent, being it a quantifiable asset, a company is empowered to commercially exploit it, sell it or grant a user license, which will be a source of income for the owner and higher return on investments. Increased bargaining power : having one or more Prototype Development patents of invention grants prestige to the owner company and increases its value, which translates into a better position for negotiating with other companies, and may even enter into mutual license granting agreements. Deterrent of infringement of rights: through patent registration, an effective legal tool is obtained against third parties, especially against competitors and similar technologies. Positive image of the company and its inventor:having Patenting Innovation in Oil and Gas demonstrates a high level of technical knowledge, specialization and technological capacity of the company. In addition, in the particular case of the inventor, it gives a special value in terms of academic recognition. All these benefits provided by a patent for Oil & Gas Product Design become incentives for innovation and healthy commercial competition from the point of view of companies. Furthermore, it is important to highlight that patent law plays an important role in terms of knowledge generation, technology transfer and the promotion of economic development policies. Why to registering a patent The use of the information contained in patent documents of Unconventional Oil AndGasis an effective instrument for planning any technological development process, since from these documents the novelty of an invention and its possible patentability can be determined and, at the same time, identify free-use technology. Probably the sources of technological information that you usually use are your direct contacts with other scientists, engineers, businessmen, specialized literature or your visits to exhibitions, but ... do you consult patent documents? Avoid unnecessarily embarking on inventions that are already known or made in other parts of the world, and use patent databases to assess the possibility of technology transfer for your current or future venture. These documents are the most recently published technological means of dissemination.So if you are going to setup a new design then it is must to have patent of that product, so that no one else can stole your design. Patent help to keep your design safe and no one claim it own once you get patent of the product.