Earlier quoted context omitted.
They exist to encourage sharing of information in the context of a private marketplace. Most useful technology is created by state-funded research over decades. The private sector just monopolizes the results. If anything, competition would be better if there were no patents. If employers could simply poach key employees by offering good salaries, they would get that information quite easily.
> Most useful technology is created by state-funded research over decades. The private sector just monopolizes the results. This is another gross oversimplification at best, and I have yet to hear anyone who has spent significant amounts of time in either public or private sector R&D make such a claim. Real life, and product development in particular, is not so easily reduced to catchy political slogans.
You can make some arguments about things like iPhones but that device depended on a huge state funded or regulated infrastructure to be useful (e.g. cell towers, internet), and it was essentially a very polished cobbling together of different components (microchips, batteries) that were developed from many decades of state supported / regulated monopoly research.
Business is very good at taking something off the shelf and making money with it. It's very bad at sustained investment that might not be profitable more than a few years away.