1. According to the definition of ISO and IEC, a standard refers to a normative document designated by consensus and approved by a recognized institution, which is used together and reused in order to obtain the best order within a certain range. The above definition is abstract, and the standard is defined by certain procedures and protocols, such as what technology the product adopts and the interface between the product and the equipment.
2. The main benefit of standards is to improve the interoperability between products of various manufacturers, and the cost can be greatly reduced through large-scale application. Mobile communication is a typical example.
3. For the widely used standards, the necessary patents contained in the standards have important commercial value. On the one hand, participating enterprises can dominate the technical direction of standards and establish competitive advantages, on the other hand, they can obtain huge economic benefits through patent authorization by virtue of the network effect and technology locking effect of standards. Therefore, not only industry giants will actively participate in the formulation of standards, but many companies even those that do not sell specific products will invest in them because of their potential considerable economic benefits.
This is all the benefits of standard essential patents.