Growth
Historically, only about one or two patents per year issued in the US on inventions specifically related to insurance policies.
This changed dramatically, however, with the 1998 State Street Bank Decision. The State Street Bank Decision was a ruling by the Court of Appeals for the Federal Circuit that confirmed that there was no “business method exception” under United States patent law. The number of patent applications filed per year after this decision was handed down jumped to about 150. The number of patents issuing per year jumped to about 30.
Read more about this topic: Insurance Patent
Famous quotes containing the word growth:
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—Harold MacMillan (1894–1986)
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“For the time of towns is tolled from the world by funereal chimes, but in nature the universal hours are counted by succeeding tribes of animals and plants, and by growth of joy on joy.”
—Ralph Waldo Emerson (1803–1882)