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> It leads to rapid innovations with no strings attached.

That depends on the industry. Certain industries require MASSIVE $$ in R&D.

They are able to recoup that cost by the temporary monopoly created by IP.

As a business owner there is no way in HELL I'm footing the research bill for a new product so so some wise guy can undercut me 3 days later.

Just because patent trolls/big pharma suck doesn't mean we should throw the baby out with the bathwater