Question

How do patents and copyrights encourage innovation?

Answer 1

Answer:

The answer is: "They give inventors and writers exclusive rights to make and sell their inventions and works, possibly making large profits."

Explanation:

When you get a patent on something, you are protected from someone swooping in and grabbing your idea and running with it. Say you have an idea for a new type of coffee cup that keeps coffee warm longer. If you just make a few thousand and sell them, some larger company can come in, copy your idea, and sell it cheaper and with a wider distribution because they have more money to work with.

When you patent it, anyone that comes in to copy your idea, can get into legal trouble over it. They may even own you money for damages.