Rejection of the patent claims involving a method of hedging risks in commodities trading

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Wikipedia:

The applicants (Bernard L. Bilski and Rand Warsaw) filed a patent application (on 10 April 1997) for a method of hedging risks in commodities trading. Such patent claims are often termed business method claims. […] Bilski&#8217-s method claim was patent-ineligible because it did not “transform any article to a different state or thing.” […]

It has been widely reported that the Bilski decision will call into question the validity of many already issued business method patents. […]

Read the whole thing.

Via our Jason Ruspini

MicroSoft have patented the prediction markets.

Well, at least, one aspect of the prediction markets.

Uniited States Patent Application:

CONTINUOUS BETTING INTERFACE TO PREDICTION MARKET

Abstract

A user participates in trading securities in a prediction market which represent different outcomes of an event, using an interface which allows the user to understand a trade in terms of a bet. The interface also allows the user to explore different bet amounts while receiving feedback on potential payoffs in real time. In one approach, a tool is used which is moved in one direction by the user to indicate a larger trade for an outcome, or in the opposite direction to indicate a larger trade against the outcome. A bet for an outcome can be translated into a purchase of a corresponding security which represents the outcome. A bet against a particular outcome can be translated into a purchase of securities which represents all other outcomes. The user interfaces hides complexities of the market from the user while surfacing relevant information.

Inventors: BERG- HENRY G.- (Redmond, WA) – PROEBSTING- TODD A.- (Redmond, WA)

I won&#8217-t comment on this, because I believe that the US patent system is broken, generally speaking.