The reason that patents are granted is
A) to encourage a high rate of consumption.
B) to protect new techniques developed through research and development.
C) to encourage free trade.
D) to increase the labor force.

Question

Quizplus · Accepted Answer

Patents are granted to protect new techniques, processes, products or designs that have been developed through research and development. The idea is to provide inventors with exclusive rights to their inventions for a limited period of time, usually around 20 years, in order to incentivize them to invest time and money into research, development and innovation. This in turn benefits society at large by promoting advancement and progress.

The Reason That Patents Are Granted Is