While patents offer significant advantages, they also come with risks and challenges:
1. Cost and Time: The process of obtaining a patent can be expensive and time-consuming, which may be a barrier for some entrepreneurs. 2. Enforcement: Holding a patent is one thing, but enforcing it is another. Entrepreneurs must be prepared to defend their patents against infringement, which can involve costly legal battles. 3. Technological Obsolescence: In fast-paced industries, the technology or product covered by a patent may become obsolete before the patent expires, potentially reducing its value.