In 1998, the United States Court of Appeals for the Federal Circuit (the
penultimate arbiter of all patent disputes in this country) created
something of a stir in the patent community when it held that:
the transformation of data, representing discrete dollar amounts, by a machine
through a series of mathematical calculations into a final share
price, constitutes a practical application of a mathematical
algorithm, formula, or calculation, because it produces "a useful,
concrete and tangible result" - - a final share price momentarily
fixed for recording and reporting purposes (State Street Bank
& Trust Company v Signature Financial Group, 149 F.3d 1368
(Fed. Cir. 1998))
This seemingly obscure passage launched what has become a flood of filings of
so-called "business method" patent applications. Recognizing the
importance of the State Street holding and its implications for
the future, on March 29, 2000, the USPTO announced a plan to improve
the quality of the examination process in technologies related
to electronic commerce and business methods.
The attorneys of Blakely Sokoloff Taylor & Zafman were preparing and prosecuting
business method patents even before the State Street decision
made them popular. We have long recognized the need for information-based
companies to seek the competitive advantage that an early-adopted
and comprehensive patent filing program can provide as a business
seeks to grow.
|
