Patents have been defended by some on the grounds that they stimulate inventive activity.Others have argued for changes in current patent laws because:

Question

Quizplus · Accepted Answer

Option A is valid because when someone is granted a patent, they receive a monopoly on their invention for a certain period. This monopoly allows them to charge higher prices, restricting access to others who might want to use the invention for their own purposes. This may misallocate resources by preventing others from making similar inventions or developing further advancements in the technology.

Option B is also valid because patents may not necessarily be the trigger for inventive activity. In some cases, the existence of patents may discourage innovation because people don't want to infringe copyrights or patents and, hence, stay away from doing innovative work, whereas they might have developed a better product on their own.

Option C is not valid since the current 17-year mono-time period is long enough to motivate companies to make investments in efficient and innovative modes of action, allowing for a fair balance between productivity and marketability.

Patents Have Been Defended by Some on the Grounds That