Patent protection is one of the least expensive ways for any new venture to block competitors from entering its market. A patent can provide valuable protection because its owner is entitled to exclude anybody else from making, using, offering or selling the invention. Even before a patent is granted, as long as a patent application has been filed, significant value may be obtained simply by having the ability to mark products or processes as "Patent Pending." It is certainly no secret that venture capital providers look for barriers to entry - like a patent or a patent application - before deciding whether to invest in any new venture.
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