A patent is a form of intellectual property that gives its owner the legal right to exclude others from making, using, or selling an invention for a limited period of years in exchange for publishing an enabling public disclosure of the invention.
1. Patents provide incentives for economically efficient research & development.
2. Patents are invented to facilitate and encourage and disclosure of innovations into the public domain for the common good.
3. Once an invention exists, the cost of commercialization is far more than the initial conception cost.