Tax Strategy Patents

Categories: Giving, News, Taxes

Some providers of financial products and services, think that they have found or created a unique tax strategy and will submit that strategy for patent protection. Some believe that owning such a strategy provides them with market protection and potential income when others what to license their strategy. President Obama recently signed the America Invents Act (Public Law 112-49) into law, this patent reform legislation bans future patenting of tax and charitable strategies. With the new law the Patent and Trademark Office will not be allowed to approve any pending or future applications for tax strategy patents. What appears to be unclear is whether existing patents of this nature will be legally enforceable.

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