What are the pros and cons of patents and copyrights ? PLEASE MARK EACH ONE OF T

Question

What are the pros and cons of patents and copyrights ? PLEASE MARK EACH ONE OF THESE EXERCISES AS A PRO OR CON

They expire after a period of time, allowing competitors to develop lower-priced versions in the long run.

They keep sale prices high, which may prevent some consumers from having access to the products.

They generate high profits, giving firms money to invest in research and development of new products.

They serve as a form of property rights, which creates incentives to innovate.ProsCons

They may have unintended consequences, leading to black market behavior.

Explanation / Answer

Answer.)

They expire after a period of time, allowing competitors to develop lower-priced versions in the long run. - PRO

They keep sale prices high, which may prevent some consumers from having access to the products - CON

They generate high profits, giving firms money to invest in research and development of new products - PRO

They serve as a form of property rights, which creates incentives to innovate - PRO

They may have unintended consequences, leading to black market behavior - CON

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