When the government grants an inventor a patent
A) he has the exclusive right to make, sell or use his invention for 5 years.
B) the patent holder has less incentive to invest in R&D because one successful invention removes the need to develop others.
C) the patent holder is guaranteed a profit on his invention.
D) the protection of a current invention would increase spending on R&D.

Question

Quizplus · Accepted Answer

When the government grants an inventor a patent, the patent holder is given exclusive rights to make, sell and use the invention for a specific period of time, usually 20 years. This protection encourages the patent holder to invest in research and development as they have a guaranteed period of exclusivity to profit from their invention. This, in turn, increases spending on R&D.

When the Government Grants an Inventor a Patent