Patents and copyrights are barriers to entry created by
A)consumer associations.
B)contractual agreement.
C)industry associations.
D)government.
E)the nature of a market.

Question

Quizplus · Accepted Answer

Patents and copyrights are both forms of intellectual property protection granted by the government. They give the inventor or creator the exclusive right to use, sell, and profit from their invention or creation for a set period of time, and prohibit others from doing so without permission. This creates a barrier to entry for competitors who may want to replicate or use the same innovation, thus giving the originator a market advantage.

Patents and Copyrights Are Barriers to Entry Created by