A patent grants the holder the exclusive right to use or sell an invention for the duration of the term of the patent. The Agreement on Trade Related Aspects of Intellectual Property Rights was signed on April 15, 1994, by 123 nations to protect intellectual property rights. Article 33 of that World Trade Organization agreement provides for the length of patent protection to be no less than 20 years from the date a patent is filed. This term is now standard in the laws of most countries. Would a change in the term of patent protection change the price a monopoly charged during the patent period? For example, would prices and monopoly profit rise if the term were to be reduced to 15 years?