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.
The research topic for today is a non-patented business innovation from International Directories Group Ltd., a corporation organized and existing under the laws of BVI and their product is the World Business Register.
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:
- World Business Directory: scam or not? You decide (we’ll help you)
- The World Company Register - is it another scam?
- World Business Guide is using misleading marketing trick
Is this a new business innovation? Apparently not. Check out:
- Warning over adverts scam Redditch Advertiser 15th December 2008
- Warning over unsolicited advertising Warrington Guardian 5th December 2008
- 90 Maltese firms caught in advertising scam Times Of Malta 27th May 2008
- Hetherington: victim of European scam fights back Mail On Sunday 30th December 2007
- Ask your MEP - Misleading advertising Times Of Malta31st Jan 2006
- European City Guide scam threatens barber Irish Post Jan 30th 2005 (Contains particularly serious allegations of ECG collection tactics)
- Daily Mirror 9th June 2005
- Irish Post (Ireland) September 28th 2003
- Daily Mirror 25th September 2003
- West London Business
- BBC (Northern Ireland)
- This is Worcestershire, Nov 2001
- Daily Mirror 22nd June 2001
- Irish Post (Ireland) December 3rd 2000
- The Daily Telegraph on the First European City Guide 18th Nov 2000
- European Advertising Standards Alliance February 2000
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.
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