Patents

 


Patent is when someone who invents something takes out the license, thereby restricting other people from using that invention so that they can form businesses, make a product and have full ownership.

Sometimes, the person who patents the product isn’t the inventor. But he was able to get a hold of the product and patent before anybody else did. Some say patents are good because they inspire inventors to activity; like research so that they can profit from inventions that they make. This is good for society as a whole.

The early American fathers spoke of patents and saw its dangers in the sense that if patents restricted competitions in the market place indefinitely, then those who own the patents, could earn super profits. Also, if they had continued ownership of that patent so that there will be no competition in a long time, then the producers will emerge huge profits, thereby end up becoming monopolist.

We need to be free from this. We need proper law to be put in place.

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