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Business Method Patents: Navigating the Sea of Controversy by Steven J. Shumaker Introduction The proliferation of ecommerce applications has combined with recent legal developments to create a run.

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Business method patents are part of a larger family of patents known as utility patents, which protect inventions, chemical formulas, processes, and other discoveries. A business method is classified as a process, because it is not a physical object like a mechanical invention or chemical composition.

An example of a business method patent would be an anti-fraud ATM machine that reads the ATM card and processes transactions, but also uses software to send the customer a secure code on their cell phone so they can verify the transaction.

Requirements for Business Method Patents First, the business method must be patentable subject matter rather than an abstract idea. It also must meet the usefulness requirement, but this is a low threshold to meet. The method only must produce a concrete result.

Business method patents are complex, and you can expect to pay $3,000 to $15,000 unless you do most of the work on your own. If you are successful in getting your patent, you will have to pay fees at the 3.5, 7.5 and 11.5 year marks from the date your patent was accepted.

Under U.S. patent law, an invention is patentable only if it meets the following four requirements, which are discussed in more detail below: The invention must be statutory (subject matter eligible) The invention must be new. The invention must be useful. The invention must be non-obvious.

Covered Business Method (CBM) Review applied to patents that claimed a method, apparatus, or operation used in the practice, administration, or management of a financial product or service.

The five primary requirements for patentability are: (1) patentable subject matter, (2) utility, (3) novelty, (4) nonobviousness, and (5) enablement.

Patent applications: the three criteria Novelty. This means that your invention must not have been made public – not even by yourself – before the date of the application. Inventive step. This means that your product or process must be an inventive solution. ... Industrial applicability.

The Business Methods area of the USPTO is a collection of subject matter areas in Technology Center 3600 that grants patents related to Data Processing: Financial, Business Practice, Management, or Cost/Pricing Determination. A Business Method patent is a utility patent that protects a method of doing business.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232