Asked by alexis nuara on May 08, 2024
Verified
The patent system gives firms greater incentive to engage in research and other activities that advance technology.
Patent System
A legal system granting inventors exclusive rights to their inventions, preventing others from making, using, selling, or distributing the patented invention without permission.
Technology
The application of scientific knowledge for practical purposes, especially in industry and the design of machinery or equipment.
- Comprehend the purpose and impact of the patent system on technological advancements.
Verified Answer
TK
Tushar KapatelMay 12, 2024
Final Answer :
True
Explanation :
The patent system grants firms exclusive rights to their inventions for a limited period, providing a competitive advantage and a potential return on investment, which incentivizes innovation and technological advancement.
Learning Objectives
- Comprehend the purpose and impact of the patent system on technological advancements.