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    Patents

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    Patents have been defended by some on the grounds that they stimulate inventive activity. Others have argued for changes in current patent laws because:

    a. resources are misallocated by the grant of a patent monopoly

    b. patents may not be necessary to encourage inventive activity

    c. the current patent monopoly period (17 years) is too short to encourage any inventive activity.

    d. a and b only

    e. all of the above

    © BrainMass Inc. brainmass.com May 20, 2020, 2:14 pm ad1c9bdddf
    https://brainmass.com/economics/economic-analysis-of-law/patents-81861

    Solution Summary

    Patents are explained briefly.

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