It is possible for society to gain by rewarding 20-year patents to companies.

Question

Quizplus · Accepted Answer

Rewarding 20-year patents to companies allows them to have a monopoly in the market for that specific product or technology, which can incentivize them to invest in research and development and bring new innovations to the market. This can ultimately benefit society through improved products, increased competition, and job creation. However, it is important to ensure that patents are not abused and do not negatively impact access to essential goods or services.

It Is Possible for Society to Gain by Rewarding 20-Year