Business method patents- an overview?

by Teresa Linus on Friday 23 August 2013, 12:14 PM | Category: Business Formation| View: 1430 views

A business method patent is nothing but a class of patents that comes out with quite a few anonymous ways of doing any business. This just could have the new process of electronic commerce, insurance banking, and tax compliance. The business technique patents are often called as the unfamiliar species for patent and you would find a quantity of reviews investigating the appropriateness of patenting business ways. However, all these are seen becoming prominent for the bigger companies and for several independent inventors. Generally speaking, the innovations or inventions that are being developed or created for businesses are famous also can be applied for patent seeking the helps of patent attorney. Hence if the patents are seen with certain vital factors like uniqueness, applicability for the industry utility unlike the other types of patents including the software patents then you simply can safe and sound your ideas in a long run. Read this post for furthur information.

The plan of patent in business domains can be found out in a wide range of countries wherein people from business sector enjoy availing the same. The US is among the first nation to implement the same for business innovators to protect their ideas. The first ever financial patent was awarded in the year 1799 to a man known as Jacob Perkins from Massachusetts for embarking the plan called the Detecting Counterfeit Notes. However, all the particulars of this person pertaining to the idea of printing art was seen lost in the Patent Office due to the fire in the year 1836. Though its existence could be accessed from other recognized sources.

An important subject in terms of business technique patents is that these are these not eligible for the patent since they do not often have technological nature, irrespective of the fact that these do not meet the other yardsticks of patentability? This very issue is generally debated in an amount of intellectual forums where you could see both the camps having their own argument. Few just reject this idea and call them ineligible for patent simply because the US patent system is only confined to technological inventions and hence no place for other options. However, the other side claims that it is a must to have patent for business methods since there are certain precise practices, which also need correct protection. These cases are still debated in courtroom, with nothing really coming tangible out of it.

In order to be eligible for a business method patent, your invention for business behavior should fall into the listed categories of the 1952 Patent Act along with being unique and useful process, procedure manufacture, machine or composition of subject or any useful and anonymous improvement thereof. Then only you could expect to get the patent protection for any particular business method.


Print-Friendly Version Email to a Friend
Related to Business method patents- an overview?
Total articles: 7762
    Total Categories: 22
    Updated in Last Week: 0
   Login Id
  Forgot Password?
  Enter Keywords
    Banking and Finance
    Campus Articles
Invite your Friends, your Colleagues, your Group Members, your Seniors, your Team mates...and others.

spacer gif
Management Paradise
spacer gif
arrow gif About Us
MBA Projects
Kartik Raichura
spacer gif
spacer gif
spacer gif
spacer gif
spacer gif Terms & Conditions
spacer gif Privacy Policy
spacer gif Disclaimer
spacer gif Copyrights
spacer gif Contact Us
spacer gif
spacer gif
spacer gif
spacer gif
spacer gif Zeitgeist
Our Network

MBA B School Blog

MBA Buy Entrance Exam Forms



MBA BMM Network



Copyright 2004 - 2019 Management Paradise.