Inventors have to make substantial investments to bring their novel ideas to fruition. In order to recover the cost of this investment, inventors need to have freedom to the fix any price for the invented product. If others were allowed to make the same product, they could easily undercut this price, thereby discouraging invention or encouraging the inventor to keep his knowledge a secret. More importantly, the public would lose the benefit of this knowledge.
The patent system prevents this by rewarding the disclosure of knowledge with a patent—a temporary monopoly granted by law to an inventor. The ultimate purpose of the patent system is to benefit the public through the advancement of science.





