Paul Gibson2
Junior Member
What is the name of your state (only U.S. law)? Virginia, not that I suppose it matters in patent law.
I would like it if I had more than one reply to my question. I think it’s a tricky one, pushing a gray area in the law, so a dissenting opinion, if there is one, would, at the very least, be good. Also, I know beggars really can’t be choosers; but, since “persons having ordinary skill in the art” is an issue, getting insight from patent attorneys with experience in banking, especially currency banking, or a banker with a good understanding of patent law would be really helpful.
I have made a provisional patent application. It has occurred to me I might not understand the obviousness patentability requirement as well as I thought. And, I'm rather anxious about things. I have set things in motion, that while it won't be the end of the world if I find out too late that the IP was never patentable in the first place, it would nonetheless be rather embarrassing.
My IP is for a currency not linked to other currencies, such as the Dollar or the Euro, or to commodities. It is paid for by the client currency holder, to the currency issuer, as a service provided by the currency issuer. Essentially whenever the client would make a purchase there would be a surcharge that would go to the currency issuer. So, if it was the 1st Bank of Missouri that issued the currency they would get money every time someone used it.
While there is no currency that combines those elements, none of that is really new. It is my assertion that the non-obviousness comes from the IP’s intended use. This is an instrument for the preservation of savings in the unlikely event of a hyper-inflation crisis.
Both of the previously mentioned elements enable the IP. Keeping the currency independent of other currencies should help to keep it stable during a crisis. Adding a revenue stream to the currency should create incentive for the currency issuer to keep their doors open. Historically currency exchange banks would close their doors during hyper-inflation crises.
That last is a weakness of other privately issued currencies. Since they are not differentiated from other world currencies, unless one presumes all the government issued currencies around the world are going to hyper-inflate at the same there is no advantage over stable currencies, such as the Chines Renminbi, or the South Korean Won.
Such currencies would be good for creating a reserve of savings if one could anticipate a hyper-inflation crisis. Once that reserve ran out, or if one was caught unawares, there would really be nothing one could do. It is my hope that my IP would enable people to do regular business.
In actual practice it would work like a business traveler’s check card. The client currency holder would give the check card to a merchant, the money would be exchanged automatically by the bank, and a surcharge would be added to the charges. The merchant need not know another currency was involved.
So, am I wrong? Is this an obvious IP? Thank you for help.
Also, I know taking free legal advice from strangers over the internet is not without its liability, as was stated in the disclaimer. Anything written here can not be considered a certainty. And, while there are explicit guidelines that dictate such things, which are not considered arbitrarily by patent examiners, whenever one sends an application to the Patent Office, they are taking a chance.
I would like it if I had more than one reply to my question. I think it’s a tricky one, pushing a gray area in the law, so a dissenting opinion, if there is one, would, at the very least, be good. Also, I know beggars really can’t be choosers; but, since “persons having ordinary skill in the art” is an issue, getting insight from patent attorneys with experience in banking, especially currency banking, or a banker with a good understanding of patent law would be really helpful.
I have made a provisional patent application. It has occurred to me I might not understand the obviousness patentability requirement as well as I thought. And, I'm rather anxious about things. I have set things in motion, that while it won't be the end of the world if I find out too late that the IP was never patentable in the first place, it would nonetheless be rather embarrassing.
My IP is for a currency not linked to other currencies, such as the Dollar or the Euro, or to commodities. It is paid for by the client currency holder, to the currency issuer, as a service provided by the currency issuer. Essentially whenever the client would make a purchase there would be a surcharge that would go to the currency issuer. So, if it was the 1st Bank of Missouri that issued the currency they would get money every time someone used it.
While there is no currency that combines those elements, none of that is really new. It is my assertion that the non-obviousness comes from the IP’s intended use. This is an instrument for the preservation of savings in the unlikely event of a hyper-inflation crisis.
Both of the previously mentioned elements enable the IP. Keeping the currency independent of other currencies should help to keep it stable during a crisis. Adding a revenue stream to the currency should create incentive for the currency issuer to keep their doors open. Historically currency exchange banks would close their doors during hyper-inflation crises.
That last is a weakness of other privately issued currencies. Since they are not differentiated from other world currencies, unless one presumes all the government issued currencies around the world are going to hyper-inflate at the same there is no advantage over stable currencies, such as the Chines Renminbi, or the South Korean Won.
Such currencies would be good for creating a reserve of savings if one could anticipate a hyper-inflation crisis. Once that reserve ran out, or if one was caught unawares, there would really be nothing one could do. It is my hope that my IP would enable people to do regular business.
In actual practice it would work like a business traveler’s check card. The client currency holder would give the check card to a merchant, the money would be exchanged automatically by the bank, and a surcharge would be added to the charges. The merchant need not know another currency was involved.
So, am I wrong? Is this an obvious IP? Thank you for help.
Also, I know taking free legal advice from strangers over the internet is not without its liability, as was stated in the disclaimer. Anything written here can not be considered a certainty. And, while there are explicit guidelines that dictate such things, which are not considered arbitrarily by patent examiners, whenever one sends an application to the Patent Office, they are taking a chance.
