Discuss very Clearly. Patent protection creates monopolies in softwa.pdf

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Patent protection creates monopolies in software markets by allowing inventors to exclusively profit from their inventions for a period of time. While this protects inventors and encourages innovation, it can also indirectly encourage monopolies and hamper further invention if others are afraid of being copied. The government must consider both the pros of protecting intellectual property rights and the cons of monopolies when crafting patent policy in the software industry.

Education

Discuss very Clearly. Patent protection creates monopolies in software markets. Discuss the pros
and cons of the government?s patent policy in this context.
Solution
Patent is a property right to the owner who has invented the product.
This is absolutely true that the protection through patent creates monopolies in software business.
Since invented software technology must not be copied by others, the inventor or owner enjoys
monopoly privilege.
Pros of government patent policy are given below:
1.It protects inventors or owners. Therefore, they can do business freely. The fear of stealing
their invention is no more.
2.It encourages more invention. People would be interested of engaging with invention, since
they have protection.
Cons of government patent policy are given below:
1.It indirectly encourages monopoly culture.
2.Further invention could be hampered, since there is a fear of being copied.

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