Britannica AI Icon

Statute of Monopolies

England [1623]

Quick Summary

The Statute of Monopolies was enacted in England in 1623. This law confirmed that monopolies were generally against common law. However, it created an exception for patentable inventions, allowing for the granting of exclusive rights for new manufactures for up to 14 years. This statute aimed to curb the abuse of royal monopolies while still encouraging innovation by protecting inventors' rights.12

Summary created from Britannica articles using AI. AI can make mistakes, so verify using Britannica articles.

Ask Britannica AI about this topic

Britannica doesn't have a full article on this topic, so we've curated a list of our relevant coverage.