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Business Method Patents
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Novelty
An Internet method will flunk the novelty test if it was put to public use -- or described in a published document -- more than one year before the patent application for the business method was filed. (If the method is exposed to the public in one of these ways, it loses its novelty.) For this reason, a business that is seeking to acquire a patent must research the "prior art" (previous inventions or methods) and promptly file its patent application or it risks losing valuable patent rights.
Nonobviousness
Meeting the nonobviousness test turns on whether the method provides a result that would be new or unexpected to someone with ordinary skill in the field of the business. Or put another way, if the differences between the business method and the prior art would not have been an obvious development to someone in the field, it is probably nonobvious.
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An economist devised a method of avoiding taxes by using a credit card to borrow money from a 40l(k) fund. The method did not exist previously and differed substantially from previous methods of avoiding taxes. Since the method was new and was not obvious to accountants or tax experts, the economist acquired a patent (U.S. Pat. No. 5,206,803).
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To learn more about patent elements and requirements, see the Qualifying for a Patent FAQ.
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