In India, the issue of patenting business methods has, more often than not, been acknowledged and subdued as an auxiliary aspect of the viscous debate on software patenting, being denied the independent magnitude it deserves as a fast emerging concept in the field of e-commerce, insurance, banking and financial services apart from topping the priority charts in the technology, sales and marketing departments of corporate business houses of almost every industry. The express restriction on business method patents traces its existence in the Indian legal system only from 20022 .This paper makes an attempt to revisit and reopen the debate on business method patenting in India, critically analyzing the current position of law. The deliberation is highly imperative and more grueling for India in the present day context due to dearth of empirical data for systematically scrutinizing the consequences and the deeper impact of non patenting of business methods in India.
Part I of the paper theoretically discusses the probable reasons of excluding business method patents in absolute terms from the Indian patent law and its corresponding impact on the knowledge capital and economic design of India.
Part II of the paper examines the global trends with reference to business method patenting substantiated by various case-laws and case studies pertinent to this genre of patenting. This part also differentiates the situation of the Indian Patent and Trademark Office (PTO) from its global counterparts highlighting the comparative trends with detailed references to United States Patent and Trademark Office (USPTO) and European Trademark Office (EPO), in particular.
Part III of the paper categorically elaborates on the risks associated with restricting business method patents in India and consequently recommends amending of the current law for a purposive insertion of the exception of business methods which involve a technical aspect or character.. The paper concludes by proposing principles to be followed to internalize the risks and opportunities associated with business method patents along with recommendations.

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