October 26, 2016 by Maya Medeiros and Brian Chau
Similar to other traditional industries, a digital revolution for financial services is underway. Financial technology, or ‘‘FinTech,” is an accelerating technical sector gaining in popularity with both traditional financial institutions and new market entrants. Competitors are forming constructive partnerships to collaborate, efficiently develop, and deploy new FinTech products and services. Patents for core technology provide a mechanism to exclude others from making, using or selling patented technology. A company may also permit use of patented technology by third parties or contribute to a patent pool using various licensing arrangements while still maintaining control of its intellectual property rights. However, recent case law and patent office guidelines make obtaining global patent protection for FinTech an increasingly complex matter.