Sign In
Ask Question
Moyer
Business
22 August, 22:30
How do patents encourage technological progress
+3
Answers (
1
)
Ciara Cardenas
22 August, 22:38
0
Patents are used to balance the right of the individual with the concept of the public good. In general, the purpose of a patent is two-fold: to allow the inventor of some new thing to retain exclusive rights as to its use for a limited period of time, and after that time to ensure that the details of the invention are available for public use.
By granting the patent-holder exclusive rights to their invention, use and duplication of the invention is at the sole discretion of the inventor, potentially allowing them to profit from it. However, after a period of time those exclusive rights cease to apply, and the new invention becomes available to the public. This contributes to the public good by increasing the amount of general knowledge available.
Comment
Complaint
Link
Know the Answer?
Answer
Not Sure About the Answer?
Find an answer to your question 👍
“How do patents encourage technological progress ...”
in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Since air pollution creates a negative externality, a. social welfare is optimal when all air pollution is eliminated. b. governments should encourage private firms to consider only private costs. c. the free market result maximizes social welfare.
Answers (1)
When a government collect more revenue in one year than it spends there is a budge
Answers (1)
The bond market requires a return of 9.8 percent on the 5-year bonds issued by JW Industries. The 9.8 percent is referred to as the: Multiple Choice call rate. yield to maturity. face rate. coupon rate. current yield.
Answers (1)
Why might lawmakers increase taxes and decrease government spending? A. to reduce unemployment B. to increase consumer spending C. to decrease the level of demand D. to encourage corporate spending
Answers (1)
Write a memo to management detailing the various classification of cost and provide two reasons why it is important to classify cost
Answers (1)
New Questions in Business
A consulting firm has a predetermined overhead rate of $120 per labor hour. The Smith job required 5 hours to compete. The overhead cost applied to this job is $
Answers (1)
Loren and Kendra enter into a contract for the distribution of Loren's produce to local restaurants for which he agrees to pay Kendra. Kendra transfers her right to payment under the contract to County Bank. This transfer is a. an alienation b.
Answers (1)
Clara, at age 47, decided to adopt a child on her own because she tired of waiting around for "mr. Right" to come along. She decided to move on with her life. Clara is an example of a (n) :
Answers (1)
Sandusky Company borrowed $28,000 from the Lakeside Bank by issuing a 10% three-year installment note. Sandusky agreed to repay the principal and interest by making annual payments in the amount of $11,259.21.
Answers (1)
Some discount stores put products in large bins and let consumers hunt and find bargains. The price these consumers pay includes: a. the time the product was full price and didn't sell b. the value of their time and energy c.
Answers (1)
Home
»
Business
» How do patents encourage technological progress
Sign In
Sign Up
Forgot Password?