United States Patent is basically a "grant of rights" for a limited time period. In layman's terms, it is a contract in which the United States government expressly permits an person or firm to monopolize a certain notion for a limited time.

Typically, our government frowns upon any sort of monopolization in commerce, due to the belief that monopolization hinders free trade and competition, degrading our economic system. A great example is the forced break-up of Bell Telephone some many years in the past into the several regional telephone companies. The government, in specific the Justice... […]