Patents give inventors sole rights to make, use or sell inventions for 17 years to prevent copying. Copyright protects creative works of authors, composers and artists to preserve their work from being copied. Trademarks are symbols associated with companies or products like logos for brands. Monopolies are bad as they allow one business to control a market and charge high prices without competition. Property and sales taxes are major sources of revenue for local governments. Gift taxes apply to gifts over $10,000 annually.