Because rights granted by a patent generally extend only as far as the borders of the country granting it, a fintech patent granted in one country will not extend to foreign countries. What's more, fintech finds itself in the crosshairs of patent eligibility questions because many countries have taken specific steps to prevent the granting of patents on pure methods of doing business or finance. Despite the "tech" portion of the word, many patent offices focus squarely on the "fin" side of things to err on the side of not allowing patent protection.
Clearly, creating a strong global patent portfolio presents challenges when countries treat patent eligibility differently, and it is typically not enough to file only in "easy" jurisdictions. But while accounting for each country having different standards for eligibility presents its own challenge, knowing the rules remains a key step in securing a strong patent portfolio that can protect innovations around the world.
In this article, Finnegan attorneys Christopher C. Johns, Soniya Shah, and Michael V. Young discuss key fintech eligibility variations in the United States, Canada, EU, and Asia that innovators and counsel will need to keep in mind as they seek protections for their intellectual property.
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