<P> Patents are legal instruments intended to encourage innovation by providing a limited monopoly to the inventor ( or their assignee ) in return for the disclosure of the invention . The underlying assumption is that innovation is encouraged because an inventor can secure exclusive rights , and therefore a higher probability of financial rewards in the market place . The publication of the invention is mandatory to get a patent . Keeping the same invention as a trade secret , rather than disclose by publication , could prove valuable well beyond the time of any limited patent term , but at the risk of congenial invention through third party . </P>
<P> Patents are legal instruments intended to encourage innovation by providing a limited monopoly to the inventor ( or their assignee ) in return for the disclosure of the invention . The underlying assumption is that innovation is encouraged because an inventor can secure exclusive rights , and therefore a higher probability of financial rewards in the market place . The publication of the invention is mandatory to get a patent . Keeping the same invention as a trade secret , rather than disclose by publication , could prove valuable well beyond the time of any limited patent term , but at the risk of congenial invention through third party . </P>
patents which confer market power are intended to
patents which confer market power are intended to
secure exclusive rights
secure exclusive rights