By obtaining patent protection you will be able to prevent others from patenting the same invention and also reduce the chances of infringing the rights of others when commercializing your products. While a patent by itself does not provide the “freedom to use” the inventor’s concept, it does prevent others from patenting the same or similar inventions and provides a reasonable indication that the invention that you have patented is new and non-obvious over the “prior art.”
The patent owner has the exclusive right to exclude others from making or using the patented invention, thereby reducing uncertainty, risk and competition from free riders and imitators. If your company can exploit a valuable patented invention it may be able to create a market entry barrier for competitors in respect of that invention. This will help it to become a pre-eminent player in the relevant market(s). Owning a patent also considerably improves the owner’s ability to take appropriate legal action against copiers and imitators of the protected invention.