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| Author: | Hall, B.H. Thoma, G. Torrisi, S. |
| Title: | Financial patenting in Europe |
| Journal: | European management review
2009 : VOL. 6:1, p. 45-63 |
| Index terms: | finance patents innovation organizations Europe |
| Language: | eng |
| Abstract: | This article looks at financial patents (henceforth as: fin-pat/s.) at the European Patent Office (EPO). As with the United States (U.S.) Patent and Trademark Office, the number of fin-pat/s. in Europe has increased significantly with significant changes in payment and financial systems. It has been argued by scholars that fin-pat/s., like other business methods pat/s., have low value, being owned for strategic reasons rather than for protecting real inventions. It is found that established firms in non-financial sectors with diversified patent portfolios have got a large share of fin-pat/s. at the EPO. Yet, new specialized technology providers in the financial area also own a number of such patents. Decisions on the fin-pat/s. applications take longer, being more likely to be refused or to be opposed. This suggests greater uncertainty over validity than for other pat/s. |
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