Court limits 'business method' patents (AP)

federal appeals court on Thursday ruled against a man trying to patent a business idea, a decision with far-ranging implications for the financial services and high-tech industries, which have major players on both sides of the issue.

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The U.S. Court of Appeals for the Federal Circuit ruled against Bernard Bilski, who wanted to patent a method for hedging against weather-related effects on businesses. Because his process did not involve a particular machine and did not physically transform anything, the court said, the process was not eligible for a patent. The court affirmed the U.S. Patent and Trademark Office 's denial of Bilski's patent, saying the agency's interpretation of the "process" was correct.

Full Story: Court limits 'business method' patents (AP)