Prof. Grid Thoma (University of Camerino)

Programm

• Datum: 21.01.2009
  Zeit: 17:15 - 18:45
  Ort: Raum 202, Kaulbachstr. 45, (INNO-tec)

Financial Patenting in Europe

The number of financial patents has increased significantly in the US Patent and Trademark Office (USPTO) in parallel with significant changes in the payment and financial systems. Scholars have argued that financial patents, like other business methods patents, have low value and are owned for strategic reasons rather than protecting real inventions. We investigate this issue by looking at financial patents in the European Patent Office (EPO). We find that established firms in non-financial sectors and diversified patent portfolios own a large share of financial patents. However, new specialized technology providers in the financial area have also patented recently. Financial patents do not appear to be of lower quality than other patents, although they are more likely to be refused by the patent office. Financial patents that are granted are more cited and require more inventive effort compared to non granted patents. Highly cited financial patents are also more opposed.