Turn your financial services idea into a potentially patentable and potentially licensable, financial services product.

You can’t patent an abstract idea. It’s tough to license one too. If you are an attorney, broker, underwriter or other legal, sales, or marketing innovator, and have a new financial services idea that you want to patent and license, your odds are substantially improved if you can have someone develop that idea into a functional, innovative financial services product. At Markets, Patents & Alliances we offer exactly that kind of service through our “financial services development lab”.

Actuarial Services

Actuaries are the engineers of the financial services industry. They help make sure that your idea will work. We offer the following actuarial services to help give your idea enough technological “oomph” to make it though the patent office and increase the comfort level of a potential licensee. Our actuarial services include:

  • Product design and preliminary pricing.
  • Development of risk models.
  • Invention of necessary pricing algorithms.
  • Terms of coverage.
  • Illustrations.
  • Expert witness at the patent office.
  • Expert witness during patent litigation.
  • Technical support during licensing negotiations.

Insurance Carrier Recruitment

If your invention is a new insurance product, at some point you have to recruit a licensed carrier to underwrite it. Established carriers, however, are, generally, very reluctant to consider new unproven product designs. In the insurance industry there are many followers but very few leaders.

The chances of success with a carrier are greatest if you can make your new product innovation fit in with and be easily comparable to traditional product design.

That’s where Markets, Patents & Alliances comes in. We take your product innovation and package it in as familiar a way as possible to targeted carriers while still retaining enough of its newness to be interesting. Our services in this area include:

  • Analysis of your idea to find the traditional products it is most clearly related to.
    Development of a business or marketing plan for your new product.
  • Development of a model policy form based on current industry standards or working with an insurance carrier to develop a policy form that captures your invention.
  • Identification of the key persons in a given organization that would be most receptive to the opportunities your invention provides.
  • Development of the proper “pitch package” that will highlight the benefits and avoid the red flags that will turn carriers off.
  • Assist in developing a win-win licensing agreement.

Investor Recruitment

If your invention is a radically new financial services product, then your best option may be to start your own financial services company. This is a challenging option to say the least, but now that new financial service products can be patented and owned exclusively, it is being done. The critical step, of course, is recruiting investors.

At Markets, Patents & Alliances we offer the following services to help you recruit investors:

  • Development of the business case for your idea.
  • Due diligence to reduce the risk of interfering patents.
  • Identification of potential alliance partners.