Blockchain Patent Attorney - Protect Your Innovations
A Blockchain patent is tricky because the tech is open-source. Our expert team will guide you through the process of securing your intellectual property.
Filing for a Blockchain Patent with a Software Patent Attorney
Blockchain, the technology that powers cryptocurrencies like Bitcoin, isn’t just for financial transactions and institutions. It can also power other types of transactions where intelligence and security are a priority.
There has been a dramatic increase in the number of patents being filed for blockchain technology, mainly due to its novelty and ever-expanding applications.
In addition to facilitating financial transactions, blockchain technology is also used for purposes of verifying ownership and authenticity. Authenticating an autograph, proving ownership of a file, and proving the legitimacy of a contract are all possible ways to utilize the technology behind blockchain.
Filing for this type of patent can be a complex process without the help of a blockchain patent attorney. The Patent Professor® is a board-certified law firm that is well-versed in the intricacies of the patent world. Putting this experienced team to work can you give a competitive edge.
What is a Blockchain Patent?
Blockchain is a disruptive technology still in its infancy. Because it is so new, the number of blockchain patent filings is expected to increase year over year. Both commercial enterprises and individuals are finding ways to create smart contracts and revolutionize digital currency using blockchain’s decentralized database, also referred to as a distributed ledger.
Despite the newness of the technological landscape, a blockchain patent is similar to any other type of patent. In exchange for sharing your invention with the public, you get exclusive rights to make, use, and profit from the technology for a set period.
The first blockchain patents were spurred by the creation and profitability of Bitcoin, which led to innovation in the fintech space.
To be granted a blockchain patent, your invention would have to be related to software or technology that utilizes this platform. Recent examples of patent filings include Method and Devices for Hardware Identifier-Based Subscription Management and Industrial Asset Cyber-Attack Detection Algorithm Verification.
Currently, there are dozens of potentially patentable blockchain applications, ranging from micropayments to voting systems.
Is Blockchain Technology Patented?
There are several technological components that make up blockchain, and none of them are particularly new. These include peer-to-peer communication protocols, hash functions, asymmetric encryption, and more. Many of the original patents have expired, which makes blockchain an open-source platform that innovators and engineers are free to access for their projects.
The technology for blockchain is not patented. You can, however, obtain a patent using blockchain technology if you develop new features or functionality.
Who Owns the Patent for Blockchain?
Despite the open-source aspect of blockchain, it’s possible to stumble upon someone else’s patent without knowing it. For this reason, it’s essential to work with a skilled patent attorney to ensure your creation is eligible for a patent application.
There are hundreds of blockchain-related patents, owned by IBM, Bank of America, Sony, and other tech giants, but the patent for blockchain itself isn’t technically owned by anyone.
Is Bitcoin Patented?
The inventor of Bitcoin, Satoshi Nakamoto, disappeared in 2010. No one is even sure if Satoshi Nakamoto is a real person, a pseudonym, or a group of anonymous people. There’s even speculation that Satoshi Nakamoto is a group of companies, comprising of Samsung, Toshiba, Nakamichi, and Motorola. When you string the first letters of those brand names together, you get Satoshi Nakamoto.
To answer the question directly, Bitcoin is not patented. It is an open-source technology.
Don’t Let This Blockchain Patent Opportunity Pass You By
Our client roster includes startups, major software and financial services firms, and everything in between. Even MasterCard and Bank of America have a portfolio of blockchain patents.
But, this doesn’t mean they’re reserved only for the big guys. You can get a piece of the action by working with a skilled blockchain patent attorney like The Patent Professor®.
Another misconception is that the technology is advancing too quickly to benefit from filing a patent. This myth is untrue if the patent is drafted properly. By working with a qualified patent lawyer, you can ensure that your invention meets the requirements to become a standard feature or a core part of the platform.
Make sure that your blockchain idea or invention is protected with a patent.
Contact John Rizvi, P.A., aka The Patent Professor® today to get started. Give us a call at (877) 728-7763.