Which of the following statements regarding patents is accurate?
A) Patents always increase the costs of imitation.
B) Patents may decrease, rather than increase, the costs of imitation.
C) Patents always decrease the costs of imitation.
D) Patents have no impact on the costs of imitation.

Question

Quizplus · Accepted Answer

Patents give the exclusive right to the inventor to prevent others from making, using or selling the invention for a limited period. While it can increase the costs of imitation by restricting competitors' access to the invention, it may also decrease the costs of imitation by providing clear guidelines on how to legally imitate the invention once the patent term expires. Additionally, the innovative features present in the patented invention may become industry standards or common knowledge over time, reducing the costs of imitation.

Which of the Following Statements Regarding Patents Is Accurate