To encourage invention and innovation,the government provides
A) patents.
B) public franchises.
C) government licenses.
D) natural monopolies.
E) easily obtained ownership barriers to entry.

Question

Quizplus · Accepted Answer

Patents provide legal protection to inventors, preventing others from copying and selling their inventions without permission. This encourages innovation by giving inventors the assurance that they will be able to profit from their ideas for a certain period of time before others can use them. This incentivizes inventors to invest time and resources into developing new and useful products, processes, and technologies.

To Encourage Invention and Innovation,the Government Provides