Patents are barriers to entry created by
A) contractual agreement.
B) consumer associations.
C) industry associations.
D) governments.

Question

Quizplus · Accepted Answer

Patents are granted by governments as a legal protection for an invention or innovation, giving the inventor exclusive rights to make, use, and sell the invention for a specific period of time. This creates a barrier to entry for potential competitors, as they are not legally allowed to produce or sell the patented product without permission from the patent holder.

Patents Are Barriers to Entry Created by