If Congress reduced the period of patent protection from 20 years to 10 years, what would likely happen to the amount of private research and development?

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Social Studies

Grady Pena

Yesterday, 23:53

If Congress reduced the period of patent protection from 20 years to 10 years, what would likely happen to the amount of private research and development?

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Answers (1)

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Cruz Allison · Answer 1

Innovation would be less profitable, so that there would actually be a downturn in research and development.

Explanation:

If Congress then lowers the patent protection duration from 20 to 10 years, it means that companies are now able to make enormous profits for just ten years, as new firms are entering and selling the same products on the market. This will bring down the moral of the researchers and development will decrease due to the fact that a lot of people will just wait to piggyback on your invention which you laboured hard for. 10 years isn't enough time to gain maximum benefits from your invention.