Intellectual property rights allow the owner to secure monopoly profits for a limited time.

Name: Intellectual property rights allow the owner to secure monopoly profits for a limited time.
Brand: Quizplus
Rating: 4.8 (44 reviews)

Question

Quizplus · Accepted Answer

Intellectual property rights, such as patents, trademarks, and copyrights, grant the owner a legal monopoly over their invention, brand, or creative work for a limited period of time. During this time, the owner can potentially earn higher profits due to exclusivity in the market.

Intellectual Property Rights Allow the Owner to Secure Monopoly Profits