In four to six sentences, describe how providing copyrights and patents can help an economy to grow.

1 answer:

4 0

Copyrights and patents help to guarantee that a person, if his/her idea is successful, will profit from ownership of that idea. Property of this kind is called intellectual property. This guarantee of ownership of your idea, and the profits generated from it, creates a larger incentive to innovate. Innovation, and the technological advancements that come from it, is the greatest long-term driver of economic growth.

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