The development of new inventions is promoted by the granting of patent rights, which restrict the right of anyone but the patent holders to profit from these inventions for a specified period. Without patent rights, anyone could simply copy another' s invention; consequently, inventors would have no financial incentive for investing the time and energy required to develop new products. Thus, it is important to continue to grant patent rights, or else no one will engage in original development and consequently no new inventions will be forthcoming.
An assumption on which the argument depends is that any costs incurred by a typical inventor in applying for patent rights are insignificant in comparison to the financial benefit of holding the patent rights.