Patent-Protection Tips for Financial Services Firms

By Schreiner, Stephen T. | American Banker, February 10, 2006 | Go to article overview

Patent-Protection Tips for Financial Services Firms


Schreiner, Stephen T., American Banker


Millions of people are still typing on their BlackBerries, and it's still uncertain if the legal battle between Research in Motion Ltd., which makes them, and NTP Inc. will result in a network shutdown or an enormous settlement.

But one thing is clear: Good patents have become an extremely valuable commodity.

There has been an increase in patent filings, licensing agreements, and high-stakes litigation over the past year, and significant changes may be on the horizon. There is movement on the Hill to revamp the patent system, and the Supreme Court is set to hear arguments in MercExchange v. eBay in late March.

This confluence of factors is pushing more financial services companies to recognize the importance of filing patent applications that are in line with four strategic considerations:

*Protecting their inventive products from being copied by competitors.

* Amassing an arsenal of patents to be used for a patent countersuit against aggressors who might otherwise find them a tempting target.

*Enabling cross-licensing arrangements to settle future patent squabbles with competitors.

*Generating future licensing revenue along the lines of what IBM, Texas Instruments, Motorola, and Wang accomplished in the computer industry.

If your company is planning to file for patents, here are a few basic practices that can help avoid some common pitfalls:

Require technology employees to assign inventions. Managers frequently assume that patent law, like copyright law, has a work-for-hire doctrine that requires employees and consultants to assign rights arising out of work performed for the company.

This is not the case. The usual rule in patent law is that inventors own the rights even if they were doing company work, on company time, using company resources. Managers usually learn this when an important invention has been created and the inventor balks at assigning the rights.

Therefore, financial services companies should have all employees (including officers) sign standard duty-to-assign invention agreements. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Patent-Protection Tips for Financial Services Firms
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.