A patent is an example of
A)a subsidy.
B)a marketable permit.
C)a voucher.
D)a tax.
E)a legal device for creating property rights.

Question

Quizplus · Accepted Answer

A patent is a legal device that grants property rights to an inventor or assignee for a period of time, typically 20 years. This grants the holder exclusive rights to make, use, and sell the invention, which provides them with a competitive advantage in the market. Therefore, a patent is an example of a legal device for creating property rights.

A Patent Is an Example of