SOSA, the leading global innovation platform that connects international organizations to innovative technology, has entered into a strategic partnership with Elron, a top Israeli early stage investment […]
The Front End of Innovation blog reports 70% of respondents to their recent survey believe eliminating business method patents will hurt innovation and its practices. The premise is that innovators and entrepreneurs are less likely to innovate if they know they cannot get patent protection. The result surprises me, and it make me wonder what the other 30% were thinking.
The issue stems from whether an inventor can patent an abstract process, something that involves nothing more than thoughts. The courts are saying no. A recent ruling on a business method patent by the U.S. Court of Appeals for the Federal Circuit said that it was not tied to a machine or apparatus, nor did it transform a particular article into a different state or thing. It did meet the standards set by the U.S. Supreme Court for patentability. Many industries that are not "machine-based" like software makers, Internet companies, and investment houses, are concerned.