Insurance
IP Bulletin
An Information Bulletin on
Intellectual Property activities in the insurance
industry
A Publication of - Tom Bakos Consulting, Inc. and Markets, Patents and Alliances, LLC |
June 15, 2005 VOL: 2005.3 |
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Publisher Contacts
Tom Bakos: (970) 626-3049 tbakos@BakosEnterprises.com Markets, Patents and Alliances, LLC Mark Nowotarski: (203) 975-7678 MNowotarski@MarketsandPatents.com Find Prior Issues HERE Patent NewsUSPTO 2005 Business Methods Customer Partnership Meeting Your editors attended the recent Business Methods Customer
Partnership Meeting sponsored by the USPTO and held in their The most important statistic we saw was that the patent office is hiring more examiners for the business method area. This will help address the critical issue of processing the enormous backlog of pending business method patent applications. The ability of the patent office to hire the new examiners has been brought about, at least in part, by the fee increases that were passed by Congress last year. We are not a big fan of fee increases, but if they result in faster, more efficient examination, they will be well worth it. The Customer Partnership Meeting was also an excellent time to have informal discussions with other inventors, attorneys/agents, examiners and officials of the patent office. Some of the tips we picked up are presented in the Patent Q&A below.
Is it worth getting a patent? Question:
My business method patent application is taking forever to get through
the patent office. We have
had repeated rejections and don’t seem to be making any
progress. I’m
beginning to worry that my attorney/agent really doesn’t know what he/she
is doing. Any
suggestions? Answer: This is a tough one. Right now, business method
patents, including those in the insurance field, are the most difficult
patents to get through the Patent Search (Sort Of)Looking For the Patents Around
You
Pay attention and you can find patents in all kinds of interesting places. We’ve noticed, for example, that almost every fast food franchise has a patent or patent application pending on their box or coffee cup. When you’re through eating turn it over and take a look. However, you can even find patents (or applications) in the every day financial services businesses. We got a credit card offer a few weeks ago from Capitol One. It was, by the way, in an ominous envelope that warned us not to bend, fold, or staple it. It’s a good thing we didn’t throw it away because, if you took the time to read it, you’d find some interesting fine Patent ValueIgnoring
Patent Value
Statistics An Update on Current Patent Activity The table below provides the latest statistics in overall class 705 and subclass 4. The data shows issued and published patents and published patent applications for this class and subclass. Class 705 is defined as: DATA PROCESSING: FINANCIAL, BUSINESS PRACTICE, MANAGEMENT, OR COST/PRICE DETERMINATION. Subclass 4 is used to identify claims in class 705 which are related to: Insurance (e.g., computer implemented system or method for writing insurance policy, processing insurance claim, etc.). Highlight of Newly
Issued Patents and Applications During Last Two Months
Issued
Patents Since our last issue
4 new insurance patents with claims in class 705/4 have been issued. Patents are assigned to a class
based on their claims. See the
detailed list for a brief description of these new patents.
Published Patent
Applications Twenty six new
patent applications have been published since our last issue. In the P&C industry there were
14 and in L&H there were 11.
One application specifies a use in all insurance fields and some of
the others may be claiming broader applications in other lines of
business. See the detailed list for of summary of
what has been recently published.
Again, a reminder
- Patent applications have been published 18 months after their filing date only since March 15, 2001. Therefore, there are many pending applications not yet published. A conservative assumption would be that there are about 150 applications filed every 18 months in class 705/4.
Resources Links to web sites with patent information. United States Patent and Trademark Office World Intellectual Property Organization (Patent Cooperation Treaty)
Patent Laws and
Regulation
Patent Agent Services
Actuarial Services |
This issue of the Insurance IP Bulletin marks the
beginning of our second year of
publication. With six
issues under our belt, we hope that we have been able to enlighten many
and, at least, keep the rest well informed. We look forward to another
exciting year.
Our mission is to provide our readers with useful information on how intellectual property in the insurance industry can be and is being protected – primarily through the use of patents. We will provide a forum in which insurance IP leaders can share the challenges they have faced and the solutions they have developed for incorporating patents into their corporate culture. Please use the FEEDBACK link above to provide us with your comments or suggestions. Use QUESTIONS for any inquiries. To be added to the Insurance IP Bulletin e-mail distribution list, click on ADD ME. To be removed from our distribution list, click on REMOVE ME. Thanks,
FEATURE ARTICLE Patent Trolls By: Tom Bakos What is a Patent Troll … something you wouldn’t want to meet on a dark bridge unless you had a little change in your pocket.Peter Detkin coined
the term Patent Troll while
Intel’s patent counsel to replace a less glamorous term he had been using
to describe the ugly, bottom feeding, scum sucking, parasitic creatures
collecting tolls (figuratively) from him for crossing bridges that no one
else was using. To some on
Peter Detkin’s side of the river, patent trolls give the
mythological Scandinavian creature after whom they are named an even worse
reputation. But we should remember before we pass
judgment that beauty is in the eye of the beholder.
Unfortunately for the poor Billy Goats, patent trolls are not
the dim witted troll creatures we learned about in third grade. And, more important than that,
they are real. They don’t go
away when you turn on the lights.
At least, they haven’t so far.
What are patent bullies? Well, from a patent troll
perspective they are much like the third Billy Goat Gruff. You remember the third Billy Goat
Gruff with the hoarse bossy voice who followed his two smaller brother
Billy Goat Gruffs across the fairy tale troll’s bridge. He claimed passage across the
troll’s bridge, according to the tale, by using his horns to poke the
troll’s eyes out through his ears, crush him to bits body and bone, and
then toss him over the bridge.
Then, as the fairy tale tells it, this third Billy Goat Gruff went
up the hill to join his two brothers who, by the way, finagled their way
across the bridge with lies and false promises, where they ate and ate and
ate until they all got so fat they could not walk.
Well, feel that wind?
It’s the wind of change that always comes before the storm of
reform. It foretells new
opportunities. Congressman
Lamar Smith (R-TX) has introduced legislation which he feels will
improve the quality of patents issued by the U.S. Patent and Trademark
Office and is intended to reform certain patent practices which patent
trolls have relied on. Thus,
his Patent Reform Act of 2005
clearly addresses patent trolls and the things they do that he
feels “disrupt the operations of high-tech companies and other
businesses.” Could Lamar Smith be a Billy Goat
Gruff?
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