Question

A man named Alexander Graham Bell received a patent for his telephone invention in 1876. Today, many Americans carry a cell phone around with them. Define patent law and describe how patents encourage competition

Answer 1

Patent law deals with inventions and their owners. The owner of an invention can file a patent on that invention which protects the creator by ensuring that theft of their invention cannot occur. This creates the need for others to create inventions that serve the same purpose but are made differently to avoid patent infringement. Patents can also be sold to other companies/creators giving them the exclusive rights to manufacture that product.