The idea of ​​giving creators a limited exclusive right to their intellectual property began in England in 1710. The “Statute of Anne,” inspired our founding fathers and was incorporated in the United States Constitution. There are three types of intellectual property. Trademark ™, Copyright © and Patents. The latter two are more controversial because they both grant the creator exclusive rights to their invention/writing for a limited time. They were meant to benefit both society and the creator. Unlike copyright, patents further prevent another company from reverse engineering the product and selling it at a lower price. Patents are also harder to obtain; To obtain a patent it must be approved by the United States Patent and Trademark Office (USPTO). Although the fashion industry has benefited from the absence of patents; Competitors constantly steal ideas from each other and as a result the costs to consumers are lower. The existentialist US patent laws we have today are counterproductive and slow down the process of innovation in other fields. The fundamental idea of ​​patents is that it is an agreement between inventors and society. The inventor is encouraged to continue inventing for the benefit of society, and in exchange the government grants the inventor a monopoly on sales. The patents were written when the Constitution was formulated. The Founding Fathers believed they should “promote the progress of the Sciences and Useful Arts by [securing] for limited periods exclusive rights to their [invention].” (Article I of the Constitution, Section 8, Clause 8) This clause was originally intended to give the inventor a limited monopoly so that he can profit, while the company will also benefit from the disclosure of information about the invention and can build. ..... middle of paper ......article/58705>.Roth, Zachary. “The monopoly factory”. Washington Monthly vol. 37, no. 6. June 2005: 12-19. SIRS problem researcher. Network. February 24, 2014.Streitfeld, David. "Note: This title is patented." Los Angeles Times (Los Angeles, California). February 7, 2003: A1+. SIRS problem researcher. Network. February 25, 2014.Teachout, Terry. “Copyright protection that serves to destroy.” Wall Street Journal. 15 March 2013: D.6. SIRS problem researcher. Network. 21 January 2014. “When patents attack!” Hosted by Ira Glass. prod. Ben Calhoun, Jane Feltes and Sarah Koenig. Episode no. 441. This American life. Hosted by Ira Glass. NPR. WGBH, Boston, July 22, 2011. Print. Transcription.“When patents attack... Part two!” Presented by Ira Glass and Zoe Chase. prod. Alex Blumberg, Julie Snyder and Ben Calhoun. Episode no. 496. This American life. Hosted by Ira Glass. NPR. WBEZ, Boston, May 31, 2013. Print. Transcription.