The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Opinion

Europe lags US in business-method patents

There is huge potential in business-method patents, and the financial sector in the US has begun to realize this. As in so many other areas of intellectual property, Europe is being needlessly left behind.

       

Business-method patents should be an integral part of strategic planning for banks and other organizations in the financial sector. Typically covering services offered over the internet or to web-based back-office operations, business-method patents can be used to exclude rivals from markets or to generate significant amounts of licensing revenue. As such, they are tools that no financial institution can nowadays afford to overlook. But talk to practitioners working in this area and you will find that all too often this is exactly what happens. European institutions are by far the most neglectful of their interests.


There has been a surge of US interest in business-method patents since the landmark State Street&Trust Co vs Signature Financial Group Inc case was decided by the US Federal Circuit Appeals Court in 1998. The court held that a Signature data-processing system, which took the form of a computerized accounting system that managed a mutual fund investment operation, should not be excluded from patentability just because it was a business method.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree