How can incumbents legally erect entry barriers around novel and non-obvious products or production processes?

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Quizplus · Accepted Answer

Copyrights, exclusive franchise agreements, and patents are all legal mechanisms that incumbents can use to protect their novel and non-obvious products or production processes, thereby creating barriers to entry for competitors. Copyrights protect original works of authorship, patents protect inventions, and exclusive franchise agreements can restrict others from entering certain markets.

How Can Incumbents Legally Erect Entry Barriers Around Novel and Non-Obvious