PROBLEMS
-patents are only valid for the country in which they have been registered
-The patent process can be very expensive if you need to apply for a global patent
-there is no enforcing agency for patents
BENEFITS
-patents encourages businesses to invest money into research and development
-a patent holder can licence its idea to others for the generation of a fee
-sucessful patents can protect you against rival businesses copying your ideas and allow you to generate higher levels of products
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