On Patent Strategy Of Financial Business Method

As knowledge economy constantly goes deeper, there is a boom of intellectual propertyprotection. With the improvement of financial markets, the boom has spread to the financialfield. After being a member of WTO, keen competition between foreign financial institutionsand Chinese financial institutions make us realize using intellectual property to protectfinancial innovation is becoming more and more significant. Along with the economicglobalization and the deeper opening of Chinese financial market, financial productinnovation and financial products protection by business method patent has become a verypowerful weapon for most financial institutions to contend with each other and expand newmarket. However, Chinese financial institutions are very lack of innovation momentum andinnovation ability. By contrast, foreign financial institutions have a higher sense of innovationand business method patent protection consciousness.“Citibank’s business method patentallocation” has taken its toll on Chinese financial world.Facing these problems, Chinese experts have a series of different opinions on businessmethod patent, for example, initial attitude of the developed countries and areas to businessmethod patent, problems on Chinese transplantation of business method patent law and so on.Meanwhile, snap transplantation of the business method patent protection law for China willcause some unexpected problems consequently: compared with foreign countries, Chinesefinancial institutions are very lack of experience in patent competition. Then because of“patent allocation” by foreign financial institutions, Chinese financial institutions will lose thepatent highland and become the bottom of the financial food chain; Under the background ofoligarchy monopoly, which is made by strong administrative intervention, Chinese financialmarket will formed absolute monopoly style with new monopoly weapon--business methodpatent. In this way, the financial market of our country will lose the chance of development,competition and development environment will be abolished consequently.This study will be detailed on the academic divergence and a new dilemma, and offer someadvice and strategy of Chinese financial patent.