The laws governing patents and copyrights
A)eliminate the need for firms to engage in research and development.
B)are intended to serve private interests, not the public's interest.
C)reduce fixed costs for firms that obtain them.
D)None of the above is correct.

Question

Quizplus · Accepted Answer

The laws governing patents and copyrights do not eliminate the need for firms to engage in research and development. They are not solely intended to serve private interests, but rather are meant to balance private interests with public interests such as promoting innovation and creativity. Finally, obtaining patents and copyrights can actually increase fixed costs for firms through legal and administrative expenses. Therefore, none of the given choices are correct.

The Laws Governing Patents and Copyrights