When the government grants an inventor exclusive rights to their invention, what is this called?

The correct term for when the government grants an inventor exclusive rights to their invention is "patent." A patent enables the inventor to control the use and distribution of their invention for a specific period, typically 20 years from the filing date. This exclusivity allows inventors to protect their innovations from unauthorized use or replication by others, which serves to encourage innovation by providing inventors with the opportunity to recoup their investments and profit from their creations.

Contrastingly, copyright pertains to the rights of creators over their literary and artistic works, such as books, music, and films, ensuring they can control the reproduction and distribution of their work. Trademark involves protection for symbols, names, and slogans used to identify goods or services, distinguishing them from others in the marketplace. A license is a permission granted by a rights holder to another party, allowing the latter to use a product or intellectual property under specified conditions, but it does not grant exclusive rights to the invention itself.