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When an entrepreneur creates a new, highly demanded product, he/she often takes out a patent on...

When an entrepreneur creates a new, highly demanded product, he/she often takes out a patent on the product. This makes it illegal for anyone else to manufacture the exact same product for 20 years, essentially creating a monopoly for that product. Explain in detail why you think this is either fair or unfair.

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It can be mentioned that the given practice of issuing patents is actually fair and this is because of the fact that there must be some reward for the people who actually get to involve in innovation. That is the reason why they can actually get to involve in innovative activities and help the productivity grow with which the country for their grows on the whole and only through issuing patents and other ways it is possible for the organisations to get motivated and intelligent innovative activities so that the economic progress towards development side

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