What trade-offs does society face in setting rules


Problem

Suppose that many years ago, one inventor received a patent for orange juice, and then another inventor came forward and requested a patent for lemonade. The first inventor maintained that the orange juice patent should be interpreted to cover all fruit juices, while the second inventor argued that the original patent included only one particular method of producing one kind of juice. What trade-offs does society face in setting rules for deciding cases like these?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: What trade-offs does society face in setting rules
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