4 ms·
The purpose of patent is to encourage innovation. If companies/individuals didn't have protection for their invention, why would they invest into R&D if their c
by CraftThatBlock 6y ago
The purpose of patent is to encourage innovation. If companies/individuals didn't have protection for their invention, why would they invest into R&D if their competitors could steal their idea/process?
It provides a middle-ground - the inventor has exclusive rights to the invention for a portion of time (20 years), where they can reap the benefits of the patent. Once it expires, anyone can use it.
- bitxbit 6y agoI don’t think patents encourage innovation at all in today’s world (and for that matter it’s questionable if they ever did). The main driver behind innovation is rarely monetary.