Patent rights

Answer 1

Patent rights are a form of intellectual property that grants the holder exclusive rights to an invention or process for a limited period of time. Governments may grant patent rights to incentivize innovation and economic growth. By granting exclusive rights to inventors, governments can encourage them to invest in research and development, which can lead to new products and services that can benefit society. Governments may also use patent rights to generate revenue by charging fees for the granting of patents or by collecting royalties from the sale of products or services that use patented technology.