Software Patent Ruling of 2014

licensing software patents
The future of software patents took a blow on June 19, 2014, after the Supreme Court's verdict to invalidate computer based ideas having no invention or innovation. This decision was made in the recent Supreme Court ruling in the CLS bank v. Alice Corporation case. Plaintiff and Defendant are both huge financial institutions sparring over a series of patents that involve "intermediary settlement" software. The Court concluded the patents to be invalid because the claims were drawn to an ab...

Understanding USC 103

Conditions for patenting an idea
If you are a business person, you will understand that competition is a real challenge within every industry. However, some people opt to protect their intellectual property from infringement by other people within their own industry. Therefore, they seek a legal right to own those ideas and inventions for themselves; depriving others of the opportunity to steal or use their ideas. The legal right in question here is known as a patent. In the United States, the government has secured a set of pr...