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April 27, 2011

Business Method Patents for Life Insurance

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Bangkok Post, Corporate Counsellor Column

Since ideas, concepts, processes, or solutions to design new life insurance products are patentable business methods in other countries, it is therefore surprising that life insurance companies in Thailand are able to copy life insurance products that are newly launched in the market. Business methods are new methods of doing business often found in many industries—especially in the services business sector such as insurance, banking and finance, tax compliance, and e-commerce. Since business methods are invented to increase business competitiveness, they are protectable to encourage creativity and boost industrial growth. Patent protection of business methods appears to be the ideal means of protecting these intangible assets

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Varunee Ratchatapattanakul
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