Patents
A) remove legal barriers to entry.
B) are prohibited in Australia.
C) create economies of scale.
D) decrease the incentive to innovate.
E) are a legal barrier to entry.

Question

Quizplus · Accepted Answer

Patents provide exclusive rights to the inventor or assignee, which creates a legal barrier to entry for others who may want to produce or sell a similar product or use a similar process. This can decrease competition and make it more difficult for new entrants to enter the market.