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Patents are granted to inventors of a product or process for a certain number of years. The reason for this is to encourage innovation in
Patents are granted to inventors of a product or process for a certain number of years. The reason for this is to encourage innovation in the economy. Without the existence of patents, it is argued, research and development for improved computer technology is unlikely to take place, since theres nothing preventing another firm from stealing the idea, copying the product, and producing it without incurring the development costs.
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