How to patent the algorithms

In my career I have a few years of experience in Finance and Trading industry and recently I decided to look back at that industry again and define the new goals in my career :,,). In these days, in spare time, I’m working on the trading “pet project” and came out with one interesting conception of finance modelling and prediction (an algorithm actually) that I’m seriously considering to patent.

The patenting was quite new for me, especially what relates to patenting of the algorithms :), and after a few weeks of investigation I’ve found out the following stuff that I reckon will be interesting for everybody.

1) Definition

An algorithm must possess five essential features – definition, finiteness, input/ output, effectiveness and order

  • The feature of definition relates to the certainty of description of an algorithm’s steps
  • The feature of finiteness relates to the need for an algorithm to specify a route to a final step in all possible cases to be handled by it
  • The need for an algorithm to have input and output follows from the fact that it is designed to be useful.
  • An algorithm is said to be effective when if each of the steps are simple enough to be performed manually, even if such performance would be tedious and inefficient
  • An algorithm would be less than serviceable if its steps were described in no particular order, even if an experienced operator could work out the correct sequence for him or herself.

http://www.austlii.edu.au/au/journals/SydLRev/1998/23.html

2) Process of Patenting – WHAT

Before patenting you need to find if the similar patent already exists. There is a patent database that allows to search across all existing patents http://www.uspto.gov/patents/process/search/index.jsp. The goal of this step is to find if your patent already exists, and if not –what’s the most related one

3) Process of Patenting – HOW

 

I hope that I will have enough time to finish my algorithm this year (after I learn this bloody MatLab) and apply for the provisional patent.

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