Against Monopoly

defending the right to innovate

Monopoly corrupts. Absolute monopoly corrupts absolutely.

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Proposed business patent?

Felix Salmon poses the question, "Can you patent financial innovations?" And answers, "no"---link here and link here.

His timely example of such a patent application is a company which makes deals with housebuyers to pay a 10% bonus on the value of the loan when it is paid off if the borrower has met all his obligations on time. Time magazine put the model on its list of the 50 Best Inventions of 2010 link here. Salmon thinks this is a neat idea because it would create an additional incentive not to walk away from an underwater mortgage.

But there is that problem of trying to patent a business model. Moreover, it is not clear to me how this model would work. The company making the offer would have to add its margin on to the market interest rate and who would borrow on those terms? In short, this story needs a lot more explanation to be credible. Moreover, the company pushing the idea has invested a lot in promoting it, raising more questions.


Certainly sounds like a business method patent that is uncomfortably close to an "abstract idea." Likely any attempts at patent enforcement would fail; and, if a patent did issue, it probably wouldn't survive a challenge. Then again, clever claim drafting in a patent application can sometimes make a sow's ear into a silk purse.
Office 2007 Professional Plus Keygen I added you to my blog as a friend, does this mean I will not be able to get you anymore if I don't sign up for the Cricut Circle?
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