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A patent is a "property right for an invention granted by a government to the inventor. A United States patent gives inventors the right "to exclude others from making, using, offering for sale, or selling their invention throughout the United States or importing their invention into the United States" for a limited time. In exchange for public disclosure of the invention when the patent is granted and for fees paid to the United States."

From: http://inventors.about.com/od/inventing101patents/f/What_patent.htm

This is important because it ensures that nobody else "steals" your invention and claims it as their own and sell it for money. It helps protect the inventor by ensuring that his idea remains his.

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15y ago
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13y ago

Patents, like copyright, are important in order to protect the rights of inventors/creators.

Without those protections there would be less incentive to create new processes and original works.

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12y ago

Giving inventors the exclusive right to license and sell their inventions gives them a chance at recouping the time and money they invested in creating it. In the case of pharmaceuticals, hundreds of millions of dollars may have gone into research; being the exclusive source to sell the drug for a limited time may make enough money to allow them to research a new drug.

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13y ago

Because developing an idea into a useful, sellable product can cost money, sometimes really large amounts of money.

If there wasn't patents, then anyone could buy one of your first units and simply start copying it for sale themselves.

And since they hadn't have to pay for the development, they can sell it for less, and the original inventor might not be able to get enough back to cover his cost of development.

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13y ago

Your patent is a legal document giving you the monopoly on your product.

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13y ago

To protect the product, manufacturing method or idea from being copied and used without rewarding the person or entity that made the invention.

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Q: Why Does A Patent Exist?
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A "pending patent" does not exist. A patent application which is pending at the patent office is typically referred to as "patent pending", but has not yet matured into an enforceable right. A patent application can, in theory, be pending indefinitely as long as you are willing to pay to keep it alive (via Requests for Continued Examination or via continuation applications, and so forth).


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