The primary purpose of patents and copyrights is to
A)provide owners with large profit forever.
B)protect firms from being taken advantage of by competing firms.
C)protect domestic firms from foreign competition.
D)encourage the expenditure of funds on research and development to create new products.

Question

Quizplus · Accepted Answer

The primary purpose of patents and copyrights is to encourage innovation and creativity by providing temporary monopolies to inventors and creators. This encourages firms to spend money on research and development to create new products, as they know they will have exclusive rights to profit from them for a certain period of time. This ultimately benefits society by promoting technological progress and the development of new ideas. Choices A, B, and C are not the primary purpose of patents and copyrights and do not align with their intended effects on innovation and development.

The Primary Purpose of Patents and Copyrights Is to