Inventions & patents deliver sustainable moats that are much easier to enforce than trade secrets. In addition, they protect your unique value proposition and can be monetized in different ways beyond your product or service offerings. Also worthy of note, is the value patents deliver in the context of M&A or liquidity transactions. They are fundamental to a companies ability to claim strategic value that can dramatically increase business valuation that goes beyond mere measures of revenue or discounted cash flows.
Photon Push-Pull Radiation Detector For Use in Chromatically Selective Cat Flap Control And 1000 Megaton Earth-Orbital Peace-Keeping Bomb
This is one of my favorite funny patents of all time. The inventor discloses a solution for detecting the color of a cat and then dealing firmly with intruders. The cat next door kept trying to steal his own cat's food but thanks to Pedrick's new cat flap design, an intruder would be taken by rocket into outer space.