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Valuation of patent rights is one of the main activities related to intellectual property management within an organization or company. Indeed, knowing the economic value and importance of the intellectual property rights assists in the strategic decisions to be taken on the company's assets, but also facilitates the commercialization and transactions concerning intellectual property rights.
Business method patents are a class of patents which disclose and claim new methods of doing business. This includes new types of e-commerce, insurance, banking and tax compliance etc. Business method patents are a relatively new species of patent and there have been several reviews investigating the appropriateness of patenting business methods.
A covered business method (CBM) patent is defined in section 18 of the America Invents Act (AIA) as a patent that "claims a method or corresponding apparatus for performing data processing or other operations used in the practice, administration, or management of a financial product or service," but is not for a "technological" invention. [1]
A method patent claim can be infringed only when a single person or entity (including contractually obligated agents) practices all of the claimed steps. [5] Neither a physical device, such as a product that can be used to practice the method, nor instructions for practicing the method, are infringing until they are used by a single person to ...
However, patent term adjustment or extension are possible if the USPTO fails to issue a patent within 3 years after filing the full application, subject to various conditions on the applicant. [29] [circular reference] The rules for drafting and filing a patent application are set out in the Manual of Patent Examining Procedure (MPEP).
Business method patent – includes patents on new types of e-commerce; and on methods of doing business in insurance, banking, tax compliance, etc. A business method may be defined as "a method of operating any aspect of an economic enterprise". [2] Tax patent – discloses and claims a system or method for reducing or deferring taxes. In ...
The USPTO has placed 209 issued US patents [5] and 188 published patent applications [6] in this classification. The USPTO has not, however, published a formal definition of the class. [7] About 10 new tax patent applications have been filed each year in recent years, and about five new patents have been issued each year.
A regional patent application is one which may have effect in a range of countries. The European Patent Office (EPO) is an example of a regional patent office. The EPO grants patents which can take effect in some or all countries contracting to the European Patent Convention (EPC), following a single application process.