Patent is a set of exclusive rights granted by a government to an inventor in exchange for the public disclosure of an invention. They were made to encourage innovation, but they are now preventing innovation as money is spent more on patents instead of research and development.
In last one year, there were more than 107,792 patents issued by the U.S. Patent and Trademark Office only. To highlight some interesting facts, process and recent impacts of patents in Technology Industry our friends at BusinessInsurance.org have created the following infographic.
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