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 personal or company to monopolize a specific notion for a restricted time.

Typically, our government frowns on any kind of monopolization in commerce, due to the belief that monopolization hinders free trade and competition, degrading our economy. A excellent example is the forced break-up of Bell Telephone some years in the past into the numerous regional telephone firms. The government, in distinct the Justice Division... […]