Ms. Wenger applies twenty years of diverse technical experience to product commercialization. She has management and technical experience in system design, analysis and modeling, software development, and the integration of software and hardware in numerous technical application areas for both research and commercial efforts. I ntellectual property is defined as ideas that lead to the development of products. These ideas can be patented to protect the future capabilities of a company. This patentability also benefits the customers who invest in the company because patents provide companies the incentive to conduct research in order to obtain future profits.
Innovation is the basis for new products and services.
Between 1997 and 1998, the number of patents issued by the Patent and Trademark Office increased by 33 percent. The Patent and Trademark Office issued 151,024 patents in 1998. If none of these companies have a patent, none are guaranteed to recover the costs associated with research. Patents provide companies with more funding, which leads to more research, and to an increase in developed products that benefit customers. A patent is a government document granting the exclusive right to make, sell, or use an innovation defined by the claims of the patent.