Answer: Patent rights give the creator the monopoly right to produce new products (or use new processes) within a certain period of time.
New knowledge is a public good. First, because it is non-competitive. Once it is produced, adding a new user will not affect the use of others; second, because it has Non-exclusive, once acquired, people can use it whether they pay or not. Therefore, if the patent system is not implemented, private individuals will have no incentive to create inventions and produce new knowledge. The implementation of the patent system can prohibit others from using new knowledge during the patent period, which makes new knowledge that is non-exclusive become exclusive. From the perspective of market efficiency, its advantage is that it can protect and encourage private creation and invention and promote the production of new knowledge. Its disadvantage is that it will limit the full utilization of new knowledge resources to a certain extent. But compared with the two, profit is the most important.