OpenStudy (anonymous):

A man named Alexander Graham Bell received a patent for his telephone invention in 1876. Today, many Americans carry a cell phone around with them. Define patent law and describe how patents encourage competition.

OpenStudy (anonymous):

Patent law is the area of law that relates to intellectual property rights. When one can't come into agreement with the patent/copyright holder then they are motivated to produce a variation or an improvement on it and get their own patent/copyright for themselves. Then the new products/materials are developed and it competes with an existing patent or copyright.