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Effectiveness of Patents

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Explain why the effectiveness of patents varies by industry.

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Solution Summary

A brief analysis on the reasons behind the variation in the effectiveness of patents is presented in the solution.

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The effectiveness of patents varies across industries and is more relied on the context or the need for patenting in these industries. For instance, in the absence of patents, the decline of Research and Development will be minimal in some industries whereas major in others. This is a clear indication that the effectiveness of patents is dependent on the industry. Patents are a way to protect ...

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