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Monopolies Meaning in Urdu
Monopolies
Meanings
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Monopolies Meaning In Urdu with Detail
The Statute of Monopolies was an Act of the Parliament of England notable as the first statutory expression of English patent law. Patents evolved from letters patent, issued by the monarch to grant monopolies over particular industries to skilled individuals with new techniques. Originally intended to strengthen England's economy by making it self-sufficient and promoting new industries, the system gradually became seen as a way to raise money (through charging patent-holders) without having to incur the public unpopularity of a tax. Elizabeth I particularly used the system extensively, issuing patents for common commodities such as starch and salt.