Question
We have been developing software for multiple platforms with a focus on financial and consulting services. Recently, we have invested considerable time and effort into the development of innovative financial technology that will be integrated into a new product release. Considering the time and money that a patent application could take, we are wondering if it might be worth it nevertheless, given that it could be difficult to maintain a competitive edge with the product otherwise. However, it seems like there is considerable uncertainty regarding the patenting of software and/or financial inventions. How can we figure out if we could end up spending a lot of money on a declined application?
Answers: 3 public & 0 private
Interesting question but as Bart van Wezenbeek said, it is a business decision. A business plan should have been done to calculate the cost and the ROI before you go into production. Having an application be denied does not stop you from using Patent Pending status until it has been denied, thereby giving you protection while you are working on it. As you stated, without the protection, you lose the competitive edge and it will also be harder to get funding without some protection.
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