The great patents debate is not confined to the
pharmaceuticals and biotech sectors. Press coverage may tend to
focus on drugs and genetic patenting, but European financial
institutions are ignoring this issue at their peril. Put simply,
there is a substantial discrepancy between the way patents are
viewed, and granted, in the US and their perceived importance in
Europe. In the US, a patents culture has grown up, principally on
the back of liberal legislation and pro-patent court rulings. US
banks are increasingly adept at exploiting this at home and,
intellectual property (IP) lawyers predict that they will also do
so in overseas markets, notably Europe.
Before looking at why European banks are at risk, some explanation
of the transatlantic patents divide is required. In the US, as a
general rule, computer software and business techniques are
patentable. In Europe, again as a general rule, they are not. More
specifically, in Europe, software...
