Once the patent for a drug in the pharmaceutical industry expires, the market for the generic equivalents a. Has no effect on the profits earned by the original producer b. Is usually considered competitive c. Would not exist d. Is a monopolistic market

Patents are grants of property given to creators on their inventions. Most patents are valid for 20 years counted from the filing date with the United States Patent and Trademark Office (USPTO). After the patent expires, other individuals can make use and exploit the creation. In such circumstances, the invention becomes competitive since it can be replicated by other entities, which was forbidden while the patent was valid.

Once the patent for a drug in the pharmaceutical industry expires, the market for the generic equivalents a. ​Has no effect on the profits earned by the original producer b. ​Is usually considered competitive c. ​Would not exist d. ​Is a monopolistic market

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Once the patent for a drug in the pharmaceutical industry expires, the market for the generic equivalents a. Has no effect on the profits earned by the original producer b. Is usually considered competitive c. Would not exist d. Is a monopolistic market