The United Kingdom took the lead in establishing a private property rights system and established a favorable institutional environment for the arrival of the Industrial Revolution.
As a part of the property rights system, the establishment of the patent system had a direct and significant impact on the occurrence of the British Industrial Revolution. Thanks to the protection of the patent system, many wealthy people invest in various inventions and creations. The exclusivity of patent protection provides the necessary institutional guarantee for the market results of new inventions.
Note: For example, the famous "steam engine inventor" Watt was not actually the first person to build a steam engine. His achievement was to improve the steam engine through constant trial and error based on the Newcomen steam engine. Operational efficiency. However, because he obtained the patent for the steam engine, Watt received investment from some entrepreneurs, and his moderate monopoly promoted the rapid marketization of steam engine technology.