Why Do We Need A Patent System? Or Do We?

Simply put, a patent is an “exclusive right granted for an invention” to the patent holder, usually the inventor. If an invention is patented, it cannot be “made, used, distributed, imported or sold” without the patent holder’s permission. There are theories that explain why a patent system is needed. Amongst them are the following: According to the reward theory, the inventor has a natural right … Continue reading Why Do We Need A Patent System? Or Do We?