for inventors, but they should be limited to genuinely new inventions and not extend forever.

Government has a variety of policy tools for increasing the rate of return for new technology and encouraging
its development, including: direct government funding of R&D, tax incentives for R&D, protection of

intellectual property, and forming cooperative relationships between universities and the private sector.

13.3 Public Goods

A public good has two key characteristics: it is nonexcludable and non-rival. Nonexcludable means that it is

costly or impossible for one user to exclude others from using the good. Non-rival means that when one person

uses the good, it does not prevent others from using it. Markets often have a difficult time producing public

goods because free riders will attempt to use the public good without paying for it. One can overcome the free

rider problem through measures to assure that users of the public good pay for it. Such measures include
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