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45 Loy. L. A. L. Rev. [i] (2011-2012)

handle is hein.journals/lla45 and id is 1 raw text is: LOYOLA LAW REVIEW I LOS ANGELES FALL 2011 VOLUME 45 NUMBER 1 TABLE OF CONTENTS ARTICLES THE PATENTABILITY OF FINANCIAL METHODS: THE MARKET PARTICIPANTS' PERSPECTIVES by Stefania Fusco ..................1.................... In the last few years, there has been a renewed interest in the validity of patenting business methods. The issue appeared to be settled in 1998 with State Street Bank & Trust Co. v. Signature Financial Group, Inc. However, in 2008, the Federal Circuit, responding to a more restrictive approach toward the patent system adopted by the Supreme Court, began questioning the soundness of the policy to extend patent protection to business methods. The Federal Circuit's adjustment of its position occurred explicitly in In re Bilski when the court decided to rehear the case en banc and reconsider the conclusions previously reached in State Street. The Supreme Court subsequently granted certiorari on In re Bilski, and its Bilski decision in June 2010 exacerbated an already heated debate on the patentability of certain subject matters. Ultimately, this quandary about patentability revolves around the empirical question of whether the patent system in a specific sector is doing its job or, more specifically, whether the patent system is fostering the creation of additional business methods. To answer this question, I conducted an empirical investigation that involved structured interviews with market participants about the production and consumption of financial methods as a subset of business methods. The data collected in this study reveal that market participants are ambivalent about the benefits that both the financial market and their companies can

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