Quote by Abraham Lincoln
Next came the Patent laws. These began in England in 1624; and, in this country, with the adoption of our constitution. Before then these?, any man might instantly use what another had invented; so that the inventor had no special advantage from his own invention. The patent system changed this; secured to the inventor, for a limited time, the exclusive use of his invention; and thereby added the fuel of interest to the fire of genius, in the discovery and production of new and useful things.
Summary
This quote highlights the significance of patent laws and their impact on innovation. It explains that before the existence of patent laws, anyone could freely use and benefit from another person's invention, offering no incentive for inventors to create new things. However, the introduction of patent laws, starting with England in 1624 and later adopted in the United States with the constitution, protected inventors by granting them exclusive rights to their inventions for a limited time. By doing so, these laws incentivized inventors by allowing them to reap the rewards of their creations, ultimately promoting further discovery and production of new and useful things.
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