New patent project to focus on business methods

[panikhide]

Some of you might be interested in hearing about a new Australian project that is designed to improve the quality of business method and computer software patents issued in Australia.

The project is called Peer-to-Patent Australia and is found at:

www.peertopatent.org.au

The project allows members of the public to review participating patent applications and nominate prior art references that could be used by the patent office to reject the patents in question.

There is one financial services patent currently under review. It is a "Shared Appreciation Progressive Mortgage" filed by an Australian company called Residex Pty Ltd.

 

[panikhide]

Following on from the Peer-to-Patent projects run recently out of the New York Law School (NYLS) and the JPO comes Peer-to-Patent Australia (www.peertopatent.org.au). Peer-to-Patent Australia is a joint initiative of the Queensland University of Technology (QUT) and IP Australia that is designed to improve the patent examination process and the quality of issued patents. Peer-to-Patent Australia uses Web 2.0 technology to allow experts within the community to review participating patent applications and bring relevant prior art to the attention of IP Australia’s patent examiners.

The project is based on the successful Peer-to-Patent projects run out of the New York Law School (NYLS) in the United States and is the result of the collaborative efforts between QUT and NYLS. The project will initially run as a six-month pilot that will focus on the rapidly advancing technology areas of business methods and computer software. Up to 40 business method, computer software and related patent applications that have been filed in Australia and which are open for public inspection will each be posted on the Peer-to-Patent Australia website for a 90-day period. During that time, members of the community can review those applications, submit prior art references and comment on the relevance of any prior art that has been put forward.

At the end of the review period, Peer-to-Patent Australia will forward the top 10 prior art submissions for each application, as selected by the community of reviewers, to IP Australia for consideration in the examination process. The review process in no way abrogates the responsibility of the patent examiner to assess a patent application. Prior art submitted by Peer-to-Patent Australia is solely designed to assist a patent examiner, who remains the arbiter of whether a patent is to be granted.

There are currently 15 patent applications from seven companies open for review. The participating companies include IBM, Aristocrat Technologies Australia Pty Limited, General Electric Company, Hewlett-Packard, Residex Pty Ltd, Yahoo and CSIRO.

Since the focus of the pilot is on business methods and related applications, there is an interesting array of new ideas and technologies in the applications that are open for review. Those applications include methods, systems and apparatus for:
- converting a decimal number to a binary representation based on processor size;
- detecting behavioural patterns related to the financial health of a business entity;
- an arrangement where a customer enters into an agreement with a lender to share equity in real estate property;
- efficient cooling of server farms;
- refining mobile device search results using location modifiers;
- integrating browsing histories with media playlists on a media playback device;
- interactive specification of context-sensitive service level agreements;
- controlling a network of trains; and
- gaming machine systems and methods.

Those wishing to review participating patent applications can register at: www.peertopatent.org.au.

 

[micador]

The site appears to have a few financial-related patents up for review.

Maybe fellow readers are able to shine some light and give IP Australia a helping hand?

I found this particular patent to be quite interesting Shared appreciation progressive mortgage. Quoting a comment on the site "... is an arrangement where a purchaser of real estate enters into an agreement with a lender to share the equity in a real estate property"

Does such arrangement qualify in terms of novelty to be granted a patent?

 

[panikhide]

The site appears to have a few financial-related patents up for review.

Maybe fellow readers are able to shine some light and give IP Australia a helping hand?

I found this particular patent to be quite interesting Shared appreciation progressive mortgage. Quoting a comment on the site "... is an arrangement where a purchaser of real estate enters into an agreement with a lender to share the equity in a real estate property"

Does such arrangement qualify in terms of novelty to be granted a patent?

Yeah, that is an interesting application. Who would have thought that people would be patenting home loans? I guess that's just the world we live in.

 

[panikhide]

Peer-to-Patent Australia Trial Nears Half-Way Point

Australia’s first Peer-to-Patent pilot project is fast approaching its half-way point and is about to enter its second phase.

Peer-to-Patent Australia is a joint initiative of the Queensland University of Technology (QUT) and IP Australia designed to improve the patent examination process and the quality of issued patents by encouraging members of the public to contribute to the search for prior art.

The current batch of patent applications currently on the web site will be open for peer review only for another three weeks until 9 March 2010. The second phase of the project will then commence, with a new set of patent applications becoming available on the website for peer review.

QUT and IP Australia invite appropriately qualified people to contribute to the project. Members of the public are encouraged to join the online peer community to review the patent applications and put forward relevant prior art.

The pilot has made a successful start, following its launch in December 2009. The community of reviewers has identified 40 prior art references and contributed 63 comments in the first 10 weeks of operation.

To register as a peer reviewer, visit the Peer-to-Patent Australia website at www.peertopatent.org.au.