Financial Innovation patent and Protection: Case Study in United States of America
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Published:
Apr 2, 2019
Keywords:
Patent Financial Innovation Bank
Main Article Content
Abstract
Financial innovation is a method or system of financial management, for instance, method of risk management of mutual funds, method of assessment of ability or capacity of customer in revolving credits, method or system in securitization, These are types of inventions and are protected by patent as a financial business method according to the United States' patent law. Furthermore, the court in the United States already decided that financial business methods and financial innovations are protected. This has led the banks in the United States to invent a number of new financial innovations, which have a good impact on both the consumers and the banks. However, the patent law in Thailand does not yet protected financial innovations, and there is no decision in this area. Therefore, it is necessary to learn from the United States the various aspects of laws, judicial decisions, the banks' role in this area and the implications from the patent protection of financial innovation, for the benefit of application in Thailand.
Article Details
How to Cite
Viriyo, A. (2019). Financial Innovation patent and Protection: Case Study in United States of America. University of the Thai Chamber of Commerce Journal Humanities and Social Sciences, 35(1), 224–240. Retrieved from https://so06.tci-thaijo.org/index.php/utccjournalhs/article/view/194535
Section
Academic Article
ลิขสิทธิ์ของบทความ
ผลงานที่ได้รับการตีพิมพ์ถือเป็นลิขสิทธิ์ของมหาวิทยาลัยหอการค้าไทย ห้ามมิให้นำเนื้อหา ทัศนะ หรือข้อคิดเห็นใด ๆ ของผลงานไปทำซ้ำ ดัดแปลง หรือเผยแพร่ ไม่ว่าทั้งหมดหรือบางส่วนโดยไม่ได้รับอนุญาตเป็นลายลักษณ์อักษรจากมหาวิทยาลัยหอการค้าไทยก่อน
References
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สถิต อรรถบลยุคล และพอพันธุ์ คิดจิตต์. 2552. รายงานการอบรมหลักสูตร "กฎหมายธุรกรรมทางอิเล็กทรอนิกส์" [ออนไลน์]. เข้าถึง: www.coj.go.th/iad/userfiles/file/protectlaw.doc
Weber Robert F. 2013. "An Alternative Story of the Law and Regulation of Risk Management." University of Pennsylvania Journal of Business Law 15, 4: 1005-1074.
Arthamit, Chusak, Atinuch, Karnjanapiboon and Jeerasek, Trimetsunthorn. 2007-2008. "Technical Use of Value at Risk (VaR) in Risk Management in Investment in Security Trading AMI." Journal of Industrial Education. 7, 1: 13-26. (in Thai).
ชูศักดิ์ เอื้อธรรมมิตร. อตินุช กาญจนพิบูลย์ และจิระเสกข์ ตรีเมธสุนทร. 2550-2551."การใช้เทคนิค Value at Risk (VaR) ในการจัดการความเสี่ยง การลงทุนหลักทรัพย์ภายในตลาดหลักทรัพย์ เอ็ม เอ ไอ." วารสารครุศาสตร์อุสาหกรรม. 7, 1: 13-26.
Bernanke, Ben S. 2007. Speech Delivered at the Federal Reserve Bank of Atlanta's 2007 Financial Markets Conference,Sea Island [Online]. Available: https://www.federalreserve.gov/newsevents/speech/bernanke20070515a.htm
Boldrin, Michele and Levine, David K. 2012. The Case Against Patents. Federal Reserve Bank of St. Louis Working Paper.
Charoenkijjarukorn, Phattrapong. 2010. "Derivatives and According Practices.'' University of the Thai Chamber of Commerce Journal 30, 1: 117-133. (in Thai).
ภัทรพงศ์ เจริญกิจจารุกร. 2553."อนุพันธ์ทางการเงินกับแนวปฏิบัติทางบัญชี." วารสารวิชาการมหาวิทยาลัยหอการค้าไทย 30, 1: 117-133.
Chien, Colleen V., and Lemley Mark A. 2012. "Patent Holdup, the ITC, and the Public Interest." Cornell Law Review 98, 1: 200-301.
Cohen, Wesley M., Nelson Richard R. and Walsh, John P. 2000. Protecting Their Intellectual Assets: Appropriability
Conditions and Why U.S. Manufacturing Firms Patent (or not) [Online]. Available: https://www.nber.org/papers/w7552
Durham, Alan L. 1999. "Useful Arts in the Information Age." Brigham Young University Law Review 1999, 4: 1419- 1528.
Eisenberg. Rebecca S. 2000. "Analyze this: A Law and Economics Agenda for the Patent System." Vanderbilt Law Review 53, 2. 2081-2098.
Fusco, Stefania. 2011. "The Patentability of Financial Methods: The Market Participants' Perspective." Loyola of Los Angeles Law Review 45, 1: 101-137.
Frankel, Tamar. 1998. "Cross-Border Securitizations: Without Law, But Not Lawless." Duke Journal of Comparative and International Law 8, 3: 255-282.
Gonzalez, Cecilia H., Cofrancesco Juliana M., and Salata, Nikole R. 2009. "The Parallel Universe of the US ITC & the District Courts." The Sedona Conference Journal 10, 9: 155-170.
Kesan, Jay P., and Gallo, Andres A. 2009. "The Political Economy of the Patent System." North Carolina Law Review 87, 5: 101-179.
La Belle Megan M., and Schooner Heidi Mandanis. 2014. "Big Banks and Business Method Patents." University of Pennsylvania Journal of Business Law 16, 2: 431-495.
Lemley, Mark A., Lichtman, Douglas and Sampat, Bhaven N. 2005-2006. "What to Do About Bad Patents." Regulation 28, 4: 10-13.
Levitin, Adam J. and Wachter, Susan M. 2012 "Explaining the House Bubble." Georgetown Law Journal 100, 4: 1177- 1258.
Lerner, Josh. 2010. "The Litigation of Financial Innovations." Journal of Law & Economics 53, 4: 807-831.
Lipson, Jonathan C. 2012. "Re: Defining Securitization." Southern California Law Review 85:1229-1282.
Merges, Robert P. 2003. "The Uninvited Guest: Patents on Wall Street." Economic Review 88, 4: 1-14.
Philippas, Dionisis and Siriopoulos, Costas. 2012. "Is the Progress of Financial Innovation a Continuous Spiral Process?" Investment Management and Financial Innovations 9, 1: 19-30.
Rinehart, Amelia S. 2011. "Patents as Escalators." Vanderbilt Journal of Entertainment and Technology Law 81, 1: 81-120.
Risch, Michael. 2012. "America's First Patents." Florida Law Review 64, 5: 1279-1336.
Scott, Frame, W. and White, Lawrence J. 2002. "Empirical Studies of Financial Innovation: Lots of Talk, Little Action?" New York University Working Paper No. EC-02-18
Sterne, Greene, Hadad, Henry and Ellison, Eldora L. 2012. "America Invents Act: The 5 New Post-Issuance Procedures." Sedona Conference Journal 13. 15-30.
Tufano, Peter. 2003. "Financial Innovation." in George M. Constantinides, Milton Harris and René Stulz. (eds). Handbook of the Economics of Finance, pp. 307-335. North Holland: Elsevier.
United States Patent and Trademark Office. 2014. A USPTO White Paper: Automated Financial or Management Data
Processing Methods (Business Methods) [Online]. Available: https://www.uspto.gov/web/menu/busmethp/whitepaper.pdf
Uttabonyukol, Satit and Kitjit, Porpan. 2009. Report on Training "Electronic Transaction Law" [Online]. Available:
www.coj.go.th/iad/userfiles/file/protectlaw.doc. (in Thai).
สถิต อรรถบลยุคล และพอพันธุ์ คิดจิตต์. 2552. รายงานการอบรมหลักสูตร "กฎหมายธุรกรรมทางอิเล็กทรอนิกส์" [ออนไลน์]. เข้าถึง: www.coj.go.th/iad/userfiles/file/protectlaw.doc
Weber Robert F. 2013. "An Alternative Story of the Law and Regulation of Risk Management." University of Pennsylvania Journal of Business Law 15, 4: 1005-1074.