Financial patenting in Europe

Hall, Bronwyn, Thoma, Grid and Torrisi, Salvatore (2010). Financial patenting in Europe. UNU-MERIT.

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UNU-MERIT Working Papers

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  • Author Hall, Bronwyn
    Thoma, Grid
    Torrisi, Salvatore
    Title Financial patenting in Europe
    Publication Date 2010
    Publisher UNU-MERIT
    Abstract We take a first look at financial patents at the European Patent Office (EPO). As is the case at the US Patent and Trademark Office (USPTO), the number of financial patents in Europe has increased significantly in parallel with significant changes in 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 for protecting real inventions. We find that established firms in non-financial sectors with diversified patent portfolios own a large share of financial patents at the EPO. However, new specialized technology providers in the financial area also hold a number of such patents. Decisions on the financial patent applications take longer and they are more likely to be refused by the patent office, suggesting greater uncertainty over validity than for other patents. They are also more likely to be opposed, which is consistent with the fact that their other economic value indicators are higher. JEL No. G20,L86,O31,O34
    Keyword Market valuation
    Intangible assets
    Patents
    Software
    Copyright Holder UNU-MERIT
    Copyright Year 2010
    ISSN 1871-9872
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    Created: Wed, 11 Dec 2013, 16:36:57 JST