An Overview on Pros & Cons of Business Method Patents (BMPs)

Of late, there has been a gradual shift in how the courts treat the issue of patentable subject matters and its exceptions in judicial systems. The biggest challenge in patent laws is to strike a balance between protecting inventors and preventing the creation of monopolies that would frustrate innovation and invention. Where the balance should stand is not the issue guiding such legal opinions. Patents essentially should further the basic economic ends of efficiently allocating resources, and how much business methods have been fostered by this and whether patents on such methods should be accepted or rejected are the subject of much debate. In fact the various opinions on the patentability of business method programs have remained unclear among judicial systems. This study examines the patentability of business methods by discussing the various pros and cons opinions. The main objective of this study is to clarify the various positions by previous authors in line with the BMPS and lead it to advance the position that there is a need to provide patent protection to business methods and their inventors. DOI: 10.5901/mjss.2016.v7n4p35