Question

___________ can be an example of Government intervention to encourage R&D?

• A. Intellectual Property Rights
• B. Financial restrictions
• C. Ban on exports of goods/ services
• D. All of the above

Answer 1

Answer: (A)

Intellectual Property Rights

Intellectual property rights are the rights given to persons over the creations of their minds. They usually give the creator an exclusive right over the use of his/her creation for a certain period of time.

Examples: Utility patents: For tangible inventions, such as machines, devices, and composite materials, as well as new and useful processes. Design patents: For the ornamental designs on manufactured products. Plant patents: For new varieties of plants.