Court rejects debt-escaping patent
23 August 2005
Australia's Federal Court has thrown out a patent on the grounds that the bankruptcy-protection business method it sought to protect would not benefit Australian society
Australia's Federal Court has thrown out a patent on the grounds that the bankruptcy-protection business method it sought to protect would not benefit Australian society.
Steven Grant had tried to patent a business method that he claimed would protect people's assets. The method involved setting up a trust, the owner gifting money to the trust and then the trustee loaning that sum back to the owner and securing it by taking a charge...
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