patent

Tuesday, Nov 12th, 2013

The Economic Case for a Strong Patent System

Strong patent rights have played a crucial role in the U.S. since its founding. Article I, section 8, clause 8 of the Constitution gives Congress the power “[t]o promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries,” and leaders like George Washington, James Madison, and Abraham Lincoln have spoken of the importance of patent rights. Today, a strong U.S. patent system remains an essential component of American economic success.
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