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From earlier analyses we know that economic profits arise because firms are able to sell at prices that exeed the total cost of production. And this is possible only if somehow competition can be fended off. A patent on the product or on some process for producing it is useful. Secret processes or recipes also help. Firms often develop relationships with retailers or suppliers that rivals or potential rivals cannot duplicate. Such relationships reduce costs to permit the charging of higher prices.
Innovation is a common route to a partial monopoly. Even where it is impossible to patent or conceal a new product, being first (and thus the only source while others are catching up) confers profits. This is obviously not entirely bad. Profits are probably the incentive to research and development of better or cheaper goods.

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