What are the trade-offs for society as it sets rules for


Suppose that many years ago, one inventor received a patent for orange juice, and then another 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 making one kind of juice. What are the trade-offs for society as it sets rules for deciding cases such as these?

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Econometrics: What are the trade-offs for society as it sets rules for
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