<Tr> <Td> <Ul> <Li> </Li> <Li> </Li> <Li> </Li> </Ul> </Td> </Tr> <Ul> <Li> </Li> <Li> </Li> <Li> </Li> </Ul> <P> Patents are legal instruments intended to encourage innovation by providing a limited monopoly to the inventor (or their assignee) in return for the disclosure of the invention . The underlying assumption is that innovation is encouraged because an inventor can secure exclusive rights, and therefore a higher probability of financial rewards in the market place . The publication of the invention is mandatory to get a patent . Keeping the same invention as a trade secret, rather than disclose by publication, could prove valuable well beyond the time of any limited patent term, but at the risk of congenial invention through third party . </P> <P> The patent system is designed to encourage innovation . This is because patents, by conferring rights on the owner to exclude competitors from the market, presumably offer the incentive for people to study new technology . </P>

Patents which confer market power are intended to