An Assessment of the Impact of Covered Business Methods Proceedings before the Patent Trial and Appeal Board on the US Economy
Published on September 16, 2020
The Leahy-Smith America Invents Act (AIA) and the Patent Trial and Appeal Board (PTAB) are crucial aspects of the US system of intellectual property protection. The AIA and PTAB reduce the need for patent litigation, reducing costs and generating substantial economic benefits. One type of patent which has been protected involves covered business methods (CBM). CBM patents deal with methods or corresponding apparatus for performing data processing or other operations used in the practice, administration, or management of a financial product or service. (Technological inventions are excluded from CBM.)
The CBM provision is used by both large and small firms across many industries. About one third of CBM proceedings are initiated by banks and other financial companies, with business services, retail, software, publishing, transportation, manufacturing, and communications companies also utilizing the CBM process.
The Perryman Group (TPG) was recently asked to estimate the effect of CBM proceedings before the PTAB on US economic activity. This process involves first estimating the direct cost savings associated with these proceedings and then computing the total economic benefits of the associated efficiency gains as they ripple through the economy.
For more details please refer to the full report.