The first written argument in England for a patent was provided by Jacobus Acountius, a citizen of Trent, in 1559 in a petition to Queen Elizabeth: Jacobus Acountius to the Queen. Nothing is more honest than that those who, by searching, have found out things useful to the public should have some fruits of their rights and labors as meanwhile they abandon all other modes of gain, are at much expense in experiments and often sustain much loss as has happened to me. I have discovered most useful things, new kinds of wheel machines, and of furnaces for dyers and brewers when known will be used without my consent except there be a penalty and I poor with expenses and labor, shall have no returns. Therefore, I beg a prohibition against using any wheel machines, either for grinding or bruising, or any furnaces like mine without my consent. This argument, although 445 years old, still provides insight into why we have patents. Examine the argument carefully. What Jacobus Acountius says is that he has invested time, money, and creativity into devising something new. He also implies that his machines are novel because he had to discover them, not obvious because he had to search, and useful. Is it not right, he states that I should be given protection for my work, because of my investigation? The answer, still found in our patent system, is yes - if you agree to teach others what you have learned. This unique arrangement of exchanging a temporary monopoly on the use of an invention for revealing the concept has stood the test of time and is a valuable ingredient to our economic system.