What rights are granted to the patentee when a patent is issued?
Once a patent is granted, the patentee has the right to prevent others from using their patented technology for manufacturing, selling, and importing patented products. However, the patentee does not have an absolute right to use their own patented technology. If someone else improves the patented technology and files a patent for their improvement, it could lead to a conflict of rights between the two parties. In such cases, licensing agreements between the parties can help resolve the dilemma. Companies often maintain a patent reserve to strengthen their bargaining position and protect their business interests. Patents are like the railing of a bridge, whose importance may be overlooked until it is removed. Having a strong patent reserve can provide a safeguard for a company's business operations. In many industries, a few powerful patents can provide a stronghold for companies, but overlapping patents among multiple players in a field can complicate matters. Adequate patent reserves can provide a safety net for businesses in such situations.