Patents are awarded to ensure that inventors are the ones


Patents are awarded to ensure that inventors are the ones that reap the benefits of their efforts. Governments protect inventors to protect the incentive for firms and individuals to come up with better and new products and processes, which promotes growth and increase our standards of living. Some say that in some countries, like in the United States, the patent system is too strong and that in fact, it has lead to less innovation. Explain the arguments behind this claim.

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Business Economics: Patents are awarded to ensure that inventors are the ones
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