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
- Opportunity Recognition
Opportunity recognition refers to the process of perceiving the possibility of a profitable ... - Consultant
Consultant is an individual who gives professional or expert advice. Consultants fall ... - Signaling
Signaling is the act of a high-quality individual agreeing to serve on a company’s board ... - Embargo
Embargo legislation that prohibits firms from importing some or all of the products made ... - Financial management
Financial management is the process of raising money and managing a company’s finances ...