America is the world’s innovation engine. The modern world as we know it exists thanks to American innovation. From 100-plus year old inventions such as the airplane, to the internet delivering this article to the newest computer/tablet/smartphone you are reading it on, America’s contribution to global innovation tops the rest of the world put together.
A major part of America’s innovation infrastructure is its powerful patent system, which makes it possible for inventors to profit from their ideas for a fixed period of time before others can freely use the technology. According to a government study, industries that rely heavily on patents contribute $770 billion/year to the American economy and create over 7 million jobs.
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