Introduction
Globally, there are over 100,000 business method/model patents and this is a sample of over
20,000 granted business method/model related patents from the
United States of Patent and Trademark Office. Business method/model patents falls under the US Patent Classification 705.
What is a business method/model patent?
Let's hear from Wikipedia:
"Business method patents are a class of patents which disclose and claim new methods of doing business. This includes new types of e-commerce, insurance, banking, tax compliance etc. Business method patents are a relatively new species of patent and there have been several reviews investigating the appropriateness of patenting business methods. Nonetheless, they have become important assets for both independent inventors and major corporations."
We have just filed a new business model patent a couple of days ago, in the field of quantitative finance and more specifically for use in hedge funds - a separate topic for another day.
Business Innovation from "World Business Register"
Last evening, I received an unsolicited email from "World Business Register", with a pdf attachment. Below is the screen snapshot of the email.
I originally thought that this is a novel method of soliciting email for spamming purposes. However, the curiosity got the better of me and I went ahead to check out the PDF document.
"Wow" was my immediate response. I wondered if an email harvester would go so far as to require someone to fill in a form, sign it, endorse with a company stamp and post it through snail mail just to get a legitimate email address or even contact information? There seems to be more than meet the eye...
What is "World Business Register" business model?
I did a quick search and was educated in many aspects on what "World Business Register" is about. in brief, the details is actually in its fine prints of the email attachment. Click on the scanned image below where I have highlighted the essential fine prints.
Noticed the additional reference to their
Terms and Conditions? Do check it out as it is easier on the eyes but not the wallet.
In essence, while "World Business Register" seems to promise a free update (is it 1 update or unlimited?), the catch is that the applicant will need to pay an up-front fee of 995 Euros first and this commitment is for a period of 3 years or 2985 Euros!
There are already several sites that analysed this business model in detail and the links to those sites are:
If you happen to complete the form and send it back to them, what would you expect next? The letter below (Courtesy of Mukaumedia) is to be expected:
Is this a new business innovation? Apparently not. Check out:
More from this website:
http://stopecg.org
How many Asia countries are in this Business Registry?
- Within Asia, at least 1000
- Within Singapore, at least 13
- Within Malaysia, at least 11
- Within Thailand, at least 64
- Within Indonesia, at least 53
- Within Philippines, at least 17
- Within Taiwan, at least 21
- Within Hong Kong, at least 14
- Within China, at least 111
- Within India, at least 236
- Within Korea, at least 11
I would not be surprised if one or more of the listings are unsolicited as well, that is, the compani(es) are added into the country so as to give some level of comfort to prospects in their country.
As of 10 Apr 2010, what are the Singapore companies that are listing in World Business Listing?
- Al Noor International (Singapore) Pte Ltd
- Allianz Se Reinsurance Branch Asia Pacific
- Bartec Pte Ltd
- BOC Aviation
- Business Continuity Management Institute
- BCM Institute Australia Pacific
- BW Furniture Pte Ltd
- Chen Su Lan Methodist Children's Home
- Choice One Manufacturing Pte Ltd
- Chun Cheng Fishery Enterprise Pte. Ltd.
- CPD Oilwell International Pte Ltd
While some companies may be unwilling but able afford to pay World Business Register, I suspect that "Chen Su Lan Methodist Children's Home" is/was in big distress.
Conclusion
Fellow readers, if you are one of those who are in distress due to this business innovation, I found the pointers given in stopecg.com under the section "
To Pay or not to pay" to be applicable to how you may want to handle this situation.
Like ECG, World Business Register will likely be transformed into another form in due time. Would the new form be Global Business Guide? Global Business Listing? Global Business Directory? World Business Directory? Best Business Guide? Best Business Directory? ... will update this space again when the time comes.
As always, read the fine prints.
God bless and best wishes.
