Patent Filing Strategy for Financial Technology (FinTech) Product for eCommerce- Protecting Intellectual Property (IP) Framework
April 25th, 2019
client – Financial Technology (FinTech) Company Product – Technology Providing Secure Platform for eCommerce Transactions Business Goal – Protecting Intellectual Property (IP) Framework During Pre-Launch Traction
Solution – Firstly, once the client engaged our law firm, we identified multiple business partners across different positions in value chain of the financial industry. The partners included, Clients (eCommerce Companies – target group of said technology under B2B model), End Users (consumers of clients who are party to eCommerce transactions), and Vendors (intermediaries who will deploy and install said technology on each client’s eCommerce Platform).
Secondly, appropriate IP Contracts ensuring IP Ownership and Confidentiality / Non-disclosure were drafted and executed with all the above-mentioned partners.
Thirdly, provisional patent application was drafted and filed before launching the product for early adopters.
Finally, after pre-sale contracts were sealed and product was tested, final non-provisional patent was filed covering all features discussed in provisional patent along with minor improvements as suggested by feedback received from early adopters. Thereafter, a PCT International Phase Application was also filed, which can now be filed across multiple countries under PCT National Phase.
Rahul Dev is a Patent Attorney & International Business Lawyer practicing Technology & Corporate Laws. He is reachable at info (at) techcorplegal (dot) com & @rdpatentlawyer on Twitter
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