The patent system is intended to:
A)prevent natural monopolies from unfairly exploiting their cost advantages.
B)reward innovators by granting them temporary monopolies.
C)spread information among firms as quickly and economically as possible.
D)give small businesses a competitive edge over larger businesses.
E)correct negative externalities.

Question

Quizplus · Accepted Answer

The patent system provides temporary exclusive rights to the inventor of a new product or process to encourage innovation by allowing them to earn returns on their investment in research and development. This reward helps to incentivize innovation and technological advancements, benefiting society as a whole in the long run.

The Patent System Is Intended To