Willmichael:
You're a designer cum lawyer....Wow

Dis puts you in a good position to tell us about copyrights laws and stuff

I'm looking to learn a lot about IP laws from you

..and design too

Roadyroadie:
Can we also discuss the law in relation to startup taxation and organization

Synord:
Under the Nigerian legal framework , patent is covered under the Patent - Patents and Design Act Cap P2 Laws of the Federation of Nigeria 2004.

For a work to be patented , it must be an invention that is novel and solves a technical problem .The work must also be capable of mass production i.e industrial application. Other cogent requirements are contained in the aforementioned act.

y3mi:


Understood.

But still, the summary of all I'm trying to get at with my inquest on this thread is summarized in the two attached screenshot below. I will like to know if the principle highlighted in the attached images also apply within the Nigeria patent laws, hence qualifying my company to file for a patent, in order to deter any from stealing my fintech idea by way of mimicking, emulating, direct copying, clever imitation whatsoever.

cc: Synord
Bcc: Patented

Ltherman

y3mi:


Understood.

But still, the summary of all I'm trying to get at with my inquest on this thread is summarized in the two attached screenshot below. I will like to know if the principle highlighted in the attached images also apply within the Nigeria patent laws, hence qualifying my company to file for a patent, in order to deter any from stealing my fintech idea by way of mimicking, emulating, direct copying, clever imitation whatsoever.

cc: Synord
Bcc: Patented

Ltherman

Synord:

[b]Nothing under the provisions of the patent and design Acts or any statutory law allows you to patent an idea. [/b]It is best to have the idea developed and in a fixed form before filing for patent .

Patented:
Nothing, quote know if under the Patents and Designs Act would allow you to validly patent
a business method/way of doing business.

I am not familiar with the patent laws in the US or UK...there may be provisions that make business method patent possible.

However the truth is, you could get away with patenting such in Nigeria(naija factor) but if it gets to court, it's is unlikely to stand up to judicial scrutiny.

y3mi:
Ofcourse I am aware of all that.

Why wouldn't you guys understand that in all my inquiry to which I'm seeking your good advise on, the idea, as I expect you ought to assume, is ofcourse, within the ambit of after having executed, launched and set into operation, and NOT about embarking on a journey of seeking to patent what hasn't been created. And so I ask again below....


In reference to the statement of the above attached screenshot....would after launching and executing a particular way of conducting business (and by virtue of its novelty of haven't been done before), would I stand to be protected if a patent is granted, would the patent deter any parties from copying, mimicking, emulating and using my same idea of how the business (transaction, operation)

y3mi:
Ofcourse I am aware of all that.

Why wouldn't you guys understand that in all my inquiry to which I'm seeking your good advise on, the idea, as I expect you ought to assume, is ofcourse, within the ambit of after having executed, launched and set into operation, and NOT about embarking on a journey of seeking to patent what hasn't been created. And so I ask again below....


In reference to the statement of the above attached screenshot....would after launching and executing a particular way of conducting business (and by virtue of its novelty of haven't been done before), would I stand to be protected if a patent is granted, would the patent deter any parties from copying, mimicking, emulating and using my same idea of how the business (transaction, operation) is conducted.

Patented:
No one patented fintechs,

Patented:
no one patented commercial communication

Patented:
but the technology behind would have been patented.

Patented:
Like I said .....no info.......limited help

Patented:
IP has some intricacies that can sometimes only be catered for with adequate info. Without info an or an idea of what exactly we are dealing with comprehensive and proper advise may be impossible.
As a general concept, I do not believe your method of doing business can be protected by patent laws. It is only an idea for now.

y3mi:
Correct

True


Exactly....what I am asking....It is the novelty of a would-be method invented on and by technology to aid and solve an issue within transactioning in a type of financial world, majority of which are now technologized and best referred to as 'fintech'.

I understand there are characteristics by which an idea/invention can be qualified for patenting, nevertheless, you can't expect me or anyone to disclose the nature, or key concept of the idea here just so you can get the full picture and therefore respond advisedly, I have therefore came up with the following analogy.

There is noodles (right ?) We have different noodle makers such as Indomie, ChickiChiki, Mimee, Minemee, Honeywell etc
So you have an idea on how noodles can be cooked without using water and still would be served cooked and taste better, you went ahead and create it but yet to launch it, the possibility that once you launch it to the consuming public, other makers of noodles may in turn start mimicking the formula by which the idea behind your product is patronized, the question is....can the formula behind the idea be patented prior to been launched into the public ? You may substitute the word "formula" with 'method/business-method.

This would preferably go under trade secrets if your analogy is in line with “ a formula “

Agreed but not if my method of doing business was not only the first on the scene, but has become the intellectual property ascribed to a company with a name that is eponymous to the very concept behind the fin-tech method of conduction such business. For instance the word "google" has become an house-hold name that implies to look up something, and the name is eponymous to the company name itself (before it became Alphabet Inc). There were previously other search engines portals before Google came up such as Lycos and Yahoo! and Binge!, but Google came up with a search engine algorithm with an algorithm that's so unique and efficient thereby setting it apart from others, and they filed for a patent to which it was granted. Now, because it is USA, where law is law, Yahoo, AskJeeves, Lycos, Binge and all others would never ever copy or make use of Google indexing search formula, whether be it a trade-secret or open-secret any programmer can do, because that patent law protects them. It is in the same vein, I am asking, but here in Nigeria...where I used the noodle analogy above. Would the patent law be able to deter others from copying, mimicking or cleverly cloning my technologized method of conducting, not just a business transaction, but a type within the fin-tech world of commerce and trade.

y3mi:
Correct

True


Exactly....what I am asking....It is the novelty of a would-be method invented on and by technology to aid and solve an issue within transactioning in a type of financial world, majority of which are now technologized and best referred to as 'fintech'.

I understand there are characteristics by which an idea/invention can be qualified for patenting, nevertheless, you can't expect me or anyone to disclose the nature, or key concept of the idea here just so you can get the full picture and therefore respond advisedly, I have therefore came up with the following analogy.

There is noodles (right ?) We have different noodle makers such as Indomie, ChickiChiki, Mimee, Minemee, Honeywell etc
So you have an idea on how noodles can be cooked without using water and still would be served cooked and taste better, you went ahead and create it but yet to launch it, the possibility that once you launch it to the consuming public, other makers of noodles may in turn start mimicking the formula by which the idea behind your product is patronized, the question is....can the formula behind the idea be patented prior to been launched into the public ? You may substitute the word "formula" with 'method/business-method.

Agreed but not if my method of doing business was not only the first on the scene, but has become the intellectual property ascribed to a company with a name that is eponymous to the very concept behind the fin-tech method of conduction such business. For instance the word "google" has become an house-hold name that implies to look up something, and the name is eponymous to the company name itself (before it became Alphabet Inc). There were previously other search engines portals before Google came up such as Lycos and Yahoo! and Binge!, but Google came up with a search engine algorithm with an algorithm that's so unique and efficient thereby setting it apart from others, and they filed for a patent to which it was granted. Now, because it is USA, where law is law, Yahoo, AskJeeves, Lycos, Binge and all others would never ever copy or make use of Google indexing search formula, whether be it a trade-secret or open-secret any programmer can do, because that patent law protects them. It is in the same vein, I am asking, but here in Nigeria...where I used the noodle analogy above. Would the patent law be able to deter others from copying, mimicking or cleverly cloning my technologized method of conducting, not just a business transaction, but a type within the fin-tech world of commerce and trade.

Synord:


The answer is yes . The patent law would protect you and prevent others from copying and mimicking your method without due authorization from you . More reason why it is important to get such patented as soon as you can

Synord:
2) Trade Secrets

A trade secret is any confidential business information which provides an enterprise with a competitive edge.

A trade secret has been defined as information of any type that is actually or potentially valuable to its owner and not generally known or readily ascertainable by the public and which the owner has made a reasonable effort to keep secret.

One of the most popular companies in the world with trade secrets is Coca-Cola. The formula or recipe for their drinks is unknown .

The formula, code named "Merchandise 7X" is said to be known to only two anonymous senior executives at every point in time, and these executives who have signed non-disclosure agreements are never to travel together. The paper on which the recipe is written was kept in the vault of a bank in Atlanta, Georgia, before it was moved into a highly secured purpose-built vault5 within the World of Coca-Cola, the company's museum in Atlanta, United States of America. Considering that a trade secret is essentially “secret” information whose value lies in its nondisclosure, a trade secret can be protected for an unlimited period of time; that is, indefinitely as long as it remains undisclosed.

For these reasons, the protection of trade secrets may appear to be particularly attractive for businesses that there profitability is hinged on their unique method of production

y3mi:


I already know all of that concerning Trade Secret and as it contrast to patents (disclosing your formula to an authorized body in exchange for protection over a period of time), as for Coca-Cola...I've read years back on 'Reader's Digest' how their uniqueness is based on their trade-secret and all of that, except for the two executives who must never meet, however still....I'm still a huge fan of Pepsi-Cola for life! Just to give you an hint, as at 2004, I've been consuming Pespi at the rate of 15 bottles/plastics/cans per day till date (though it began declining since 2018/19), I nevertheless still manage to gulp a minimum of 5-7 plastics of the carbonated soft-drinks nowadays.

Given the name of your moniker, are you an official whose field is linked with patent registering ?

Thanks for all the info.

y3mi:

Thanks.
Do you offer this patent registering service as a lawyer ?

y3mi:

Thanks.
Do you offer this patent registering service as a lawyer ?