Patents are usually the best way to protect an invention. Investors will have more confidence in your company if your IP is protected by a patent. Patent rights are inherently valuable, and obtaining a patent establishes that your IP has been vetted by the patent office.
A patent is an exclusive right granted by the government in exchange for public disclosure of an invention. The claims of a patent provide a legal definition of what the patent owner can prevent others from making, using or selling. Patents have a 20-year term starting on the filing date. This term can be extended if there are excessive delays by the patent office in examining the patent or delays by the FDA in approving a drug claimed by the patent.
