Which of the following is a benefit of using patents in organizations?

Question

Quizplus · Accepted Answer

Patents can be used by organizations to prevent competitors from entering certain market segments by providing exclusive rights to produce or sell a particular product or process for a period of time. This can give the organization a competitive advantage and potentially increase profits. Option A is incorrect as an upgraded version of a pre-existing patented process would require a separate patent. Option B is incorrect as using contents derived from other processes could lead to copyright infringement rather than patenting. Option D is incorrect as there is a fixed period of time during which a concept can be patented.

Which of the Following Is a Benefit of Using Patents