Final answer:
The public policy goals of granting patent rights are to promote innovation and ensure disclosure of the invention's details. These goals are achieved by offering a limited monopoly and requiring public disclosure, which in turn stimulates further advancement in various fields.
Step-by-step explanation:
The two public policy goals served by granting patent rights are promoting innovation and disclosure. Patents provide an incentive for inventors by giving them exclusive rights to make, use, or sell their invention for a limited period, which in the United States is 20 years.
This limited monopoly encourages inventors to invest in research and development, as they can potentially recoup the costs and profit from their invention without immediate fear of competition. Additionally, the requirement to publicly disclose the details of the invention as part of the patent application ensures that the knowledge is shared, which can spur further innovation and advancement in the field.
On the other hand, certain intellectual property laws might hinder innovation in some cases—for instance, monopolies can lead to inefficiency, and in industries like food recipes or fashion designs in the U.S., the lack of intellectual property protection does not seem to have stifled creativity or growth.