Abstract
The application in question sought to protect a method of hedging against risk in the energy commodity market. The application was initially denied by the Patent Examiner and the rejection was affirmed by the Board of Patent Appeals. The Court of Appeals for the Federal Circuit further upheld the rejection, using the 'machine-or-transformation test' as the exclusive test for determining patentable subject matter. The Supreme Court also rejected the application, but on the basis that it claimed nothing more than an abstract idea.
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