Business method patent
Business method patent is a patent that protects an invention that is or facilitates a method of doing business, have been of particular interest to Internet firms. Patents for these purposes were not allowed in the United States until 1998, when a federal circuit court issued an opinion allowing a patent for a business method, holding that business methods, mathematical algorithms, and software are patentable as long as they produce useful, tangible, and concrete results. This ruling opened a Pandora’s Box and has caused many firms to scramble to try to patents their business methods.
More from this Section
- Area franchise agreement
Area franchise agreement is an agreement that allows a franchisee to own and operate a ... - First-to-invent rule
First-to-invent rule, meaning that first person to invent an item or process is given ... - Fixed costs
Fixed costs refer to costs that do not vary with production or sales level and include ... - Viral marketing
Viral marketing is a fairly new marketing technique that facilities and encourages people ... - Founding team
Founding team is referred as a team of individuals chosen to start a new venture; has ...