Patents grant
A)permanent monopoly status to creators of scientific inventions
B)permanent monopoly status to creators of any intellectual property
C)temporary monopoly status to creators of scientific inventions
D)temporary monopoly status to creators of any intellectual property
E)permanent monopoly status to natural monopolies

Question

Quizplus · Accepted Answer

Patents grant temporary monopoly status to creators of scientific inventions, usually for a period of 20 years from the date of filing the patent application. This means that during that time, no one else can manufacture, use, or sell the invention without permission from the patent holder. This is intended to give inventors a financial incentive to research and develop new ideas, as they can control the use of their inventions for a limited time and potentially profit from them. Once the patent expires, the invention enters the public domain and can be used freely by anyone.

Patents Grant