Patents provide the right to stop others from copying, manufacturing, selling, or importing an invention without permission. Filing a patent early establishes a date, facilitates discussion without risk, deters competitors, and helps with funding and adding value to a company. However, patents are not always necessary - some successful companies like Dyson, aircraft seating designers, cosmetic companies, and drink makers did well without patents. Developing a flexible strategy with a patent attorney from the beginning can help determine the best intellectual property approach for a given situation and lead to success.