Why do governments issue patents?
A) Patents foster economies of scale.
B) Inventors have a moral right to control their inventions.
C) Patents ensure that socially beneficial goods are affordable.
D) Firms benefit from the publicity associated with patents.
E) The prospect of large profits is an incentive to innovation.

Question

Quizplus · Accepted Answer

Governments issue patents to incentivize innovation by providing inventors with a temporary monopoly on their invention, which allows them to make profits from their invention. The prospect of large profits is an incentive for inventors to invest time and money into creating new inventions. This can lead to new technological developments, which can benefit society as a whole.

Why Do Governments Issue Patents