You can use it to secure the return on your investment in innovation. After all, a patent that describes your invention provides a monopoly that allows you to protect your market share in the relevant market and possibly prohibit third parties from entering that market with a similar product or solution. On the other hand, you can give a competitor a license. With a license your competitor may can use the patented invention in return for a fee. A patent can also be a means of obtaining access to inventions protected by third parties - the so-called cross licenses - so that you can improve/optimize your own product or working method using the technology of someone else. Finally, you can register a patent to confirm your image as an inventive company.