IMAGINE that Albert Einstein were alive today and that he were just now formulating his theory of relativity. Could he get a patent on E=mc2 ?

Some patent experts contend Mr. Einstein just might be able to, thanks to a recent ruling by the United States Court of Appeals for the Federal Circuit in Washington.

The case in question -- State Street Bank and Trust Company v. Signature Financial Group -- had nothing to do with physics. Rather, at issue was a patent for a data-processing system for a so-called hub-and-spoke mutual fund partnership in which mutual funds pool their assets in an investment portfolio.

The appeals court's ruling has been long awaited by financial services companies, which have resisted the idea that innovative approaches in their industry should be patented. Indeed, Visa and Mastercard filed an amicus brief in the case saying that they were doing just fine without patents, thank you.