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A patent is essentially a trade of a monopoly on an invention for a limited time (about 20 years) to an inventor in exchange for a full and complete disclosure of how to make and practice the invention. Without a patent system and adequate enforcement mechanisms, an inventor could invest the time, money, and effort to create an invention only to have that invention reproduced by a competitor who has not invested the resources, thereby potentially putting the original inventor in a less competitive position in the marketplace. Patents are intended to protect that investment of resources to innovate, by rewarding inventors.

Without a patent system, inventors may be inclined to keep details of inventions secret, which hinders the progress of science and the useful arts.

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Viva Bashirian

Lvl 10
2y ago

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