Do You Have a Unique Way of Doing Business? Protect it With a 20-Year Monopoly!

Does your company do business in a way that’s special? You may now be able to patent your methods with a relatively new form of intellectual property protection.

Prevent rivals from stealing your unique approach by filing a “business method patent.” And if you get a patent, you have the exclusive right to the business method for the regular patent life-span of 20 years.

Business method patents are the creation of a court ruling that involved a computer program for mutual fund administration. In the case, the United States Court of Appeals ruled that methods of doing business can be patented just like any other type of invention. (State Street Bank v. Signature Financial Group, U.S. Court of Appeals for the Federal Circuit)

The State Street ruling, along with the rise of the Internet and e-commerce, has resulted in an avalanche in business method patent filings, particularly for techniques used on the Web.

These patents cover many of the most popular and well-known Internet and financial services technologies. For example, Next Card, recently received a patent for the issuance of online credit. The reverse auction method of Priceline.com is covered by several patents. A Toronto-based marketing firm applied for a patent on a method of “viral marketing” that allows Internet users to become participants in corporate marketing.

While there has been grumbling in some quarters about the merits of allowing this protection, business method patents are here to stay. They represent the best method of protecting new and unique methods of doing business on and off the Internet.