Quote from hilojack:
The point of this thread wasn't to tell you how great my system is or that I'd like to raise OPM or whatever, the point was how to protect my system IF that is the route I decide to go.
So basically what I've gathered from this thread is that I can trademark but not patent my system, and other than non-disclosure documentation there is no way for me to keep someone from copying it.
Would anyone else care to chime in?
Hi Hilojack,
Contrary to what others may have told you, it is possible to patent aspects of an indicator.
One of the reasons that Bollinger Bands or something like it was not patented is that in the eighties when it was created, patent law didn't allow for it. While it is still not possible in the US to patent an indicator per se (as a mere algorithm), it is possible to patent a practical implementation of the algorithm, particularly a computer based implementation, ie software.
At the time when Bollinger Bands were 'invented' (and nearly all other publicly known indicators) it was not possible to patent computer software. But times have changed and now it is. It is now also possible to patent just the algorithm in Australia (who seem to be the most liberal in their patent law) as long as the variables of the algorithm relate to real things (such as stock prices).
However as has already been pointed out to you, patenting your indicator will require public disclosure of it (within 18 months of filing your patent). Also you are limited in how you use it before you apply for a patent. If you use your system commercially before you file, your patent could later be invalidated (if someone can prove you used it), although in the US you have a 'grace period' in which you can still file (most other countries do not). Using it for experimental purposes usually won't invalidate it though.
If you really do want a patent you can most likely get one if your indicator truly is new invention, just go talk to your local patent attorney.
However in practical terms if you did get patent protection, the monopoly provided would only apply to software implementations of your indicator that you know about. You would be able to take infringement actions or demand royalties from software vendors who wanted to include your indicator in whatever they're selling.
But of course surely you would only want to disclose and sell your indicator publicly if it didn't work (or perhaps no longer worked), in which case why would anyone want to pay royalties for it?
