As an engineer and someone who has filed several patents, I like the idea of incentivizing creativity with a temporary monopoly on your own work, and then opening it up to the commons with full documentation. In practice, I think the system is abused and does more harm than good in this day and age. Patents are now mostly used as defense in high cost, high stakes lawfare.

The patent system needs major reform and the USPTO needs much better help vetting submissions. The duration is too long on fast developing fields and claims are being accepted that should never be patentable in the first place. There's a whole cottage industry of patent trolls who have never created anything of their own, but can theorize someone else might try to make a product that does X and they file an overly broad patent for it. If these sort of abuses can't be corrected, I think we'd be better off without IP rights entirely.