The Full Court of the Federal Court has dismissed the patent applicant's appeal in Research Affiliates LLC v Commissioner of Patents [2014] FCAFC 150 (link), finding that the computer-implemented inventions in issue were not patentable subject matter under Australian law.
The case concerned patent claims for computer-implemented methods and systems for generating financial securities indexes based on objective measures other than share price and market capitalisation. The indexes generated were used by investment managers to create and maintain securities portfolios.
The Full Court upheld the single judge's decision in Research Affiliates LLC v Commissioner of Patents (2013) 300 ALR 724; [2013] FCA 71 (link), which held that the claims in issue did not claim patentable subject matter. The single judge's decision was the subject of our earlier IP Alert, available here ( link).
The Full Court's decision attempts to clarify the patentability of computer-implemented inventions under Australian law. In reaching its decision, the Full Court undertook a detailed review of, and had particular regard to, the law in the United Kingdom and the United States.
We will publish further analysis of the decision shortly.
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