Governments grant patents to encourage
A)research and development on new products.
B)competition.
C)low prices.
D)firms to form public enterprises.

Question

Quizplus · Accepted Answer

Governments grant patents to encourage research and development on new products. Patents provide legal protection to inventors against any unauthorized use, sale or import of their invention. This protection gives inventors the exclusive right to make, use, and sell their invention for a set period, usually 20 years. This exclusivity encourages them to invest time and money in the research and development of new products, ultimately benefitting society with new and innovative products.

Governments Grant Patents to Encourage