July 22, 2003

Patenting Insurance

Obtaining business method patents on insurance operational processes or new products is a new trend in the marketplace. Walker Digital, L.L.C. in Stamford, CT holds over 200 patents, including some related to financial services and negotiations. Walker's most famous business method is the "name your own price" method used by Priceline.com.

Two consultants, Tom Bakos and Mark Nowotarski, have publicly posted insights into the trend toward patenting of new insurance business methods. A series of their articles in National Underwriter and elsewhere are listed and linked from Mr. Nowotarski's company website . Mr. Nowotarski is a patent agent and inventor based in Stamford, Connecticut. Mr. Bakos, a consulting actuary based in Ridgway, Colorado, offers a digital copy of an article summarizing patent, copyright and trademark principles relevant to insurance. It was published in the July/August 2002 issue of Contingencies, a publication of the American Academy of Actuaries.

I'll be doing additional exploring of the intellectual property realm in relation to insurance and other financial services and noting observations here in Unintended Consequences. If you have some areas of interest to suggest exploring, please let me know via email: douginhartford "at" earthlink.net

Posted by dougsimpson at July 22, 2003 02:32 PM | TrackBack
Comments

I am delighted to read the above short report on the internet.

It is a pleasant coincidence that my research field matches yours ! I have developed some innovative business methods relevant to international finance, insurance and business. Please advise how I can secure Patents for these achievements which are unique and pioneering (as testified by independent senior professionals in different parts of the world).

Would appreciate your guidance soon as possible.

Thanks and best regards.

Chandersekhar

Posted by: Chandersekhar at September 7, 2003 06:56 AM

Chandersekhar, providing advice on particular factual circumstances is beyond the scope of this journal. For general information about obtaining a patent in the United States, the United States Patent Office (www.uspto.gov) provides several online articles written for the layperson, including "How Do I Get a Patent for an Invention," at http://www.uspto.gov/main/howdoi.htm One who has invention(s) that they believe may be protectible under US or international patent law should consult a specialist patent agent or attorney of their choice.

Doug Simpson

Posted by: Doug Simpson at September 7, 2003 09:50 AM