Financial Services & Business Methods
We understand the differences in the requirements for patentability between regimes such as the US and the EPO and the UK.
The patent protection available for financial services and business methods varies enormously around the world. Some countries, such as the USA, have historically permitted business methods to be protected, subject to certain limitations, while others, typified by the European Patent Office (EPO) and China, take the view that this type of invention is inherently non-technical and cannot involve the inventive step required for patent protection. The position is slightly different in many countries.
Following a recent landmark decision of the US Supreme Court the landscape in that country has shifted markedly, prompting other countries to renew their own positions.
Financial Services & Business Methods team
Our clients include banks, broking houses, insurance companies and financial technology providers.
We understand how financial services institutions develop new systems and the development stages they go through and we know how to interact with developers to ensure that patent applications include the crucial details, both technical and commercial. Our work has included seeking patent protection for broking platforms, trading systems, pricing algorithms, communications methods and user interfaces.
We understand the differences in the requirements for patentability between regimes such as the US and the EPO and the UK. This enables us to advise at an early stage before filing so that applications can be filed with a specification that maximises their chances of success. We see many applications being refused that could have been granted had they been drafted with the EPO or UK requirements in mind. We have developed great expertise in assessing what inventions can be protected in what countries and in formulating strategies for protection.
One of our clients, a UK based markets operator and provider of post trade risk services, operates an international network covering more than 32 countries. We advise the client on the protection of its global patent, trade mark and design portfolio including drafting, filing and prosecution, validity and freedom to operate opinions, taking into account the requirements of each patent office.
For our UK clients we have built up substantial experience in working with inventors to develop strategies for identifying and protecting inventions in this difficult and fast moving field. We are acknowledged as experts in the field and regularly give lectures and seminars on issues of interest.