The much-awaited Bilski decision was handed down by the Supreme Court yesterday.

The Court holds: the specific invention in this case, a method of predicting business or economic cycles, was ineligible for a patent. In discussing the proper test for patentability, the Court says the “machine or transformation” test may be a useful and important investigative tool, but it is not the sole test for determining whether a “process invention” is patentable. The Kennedy opinion for the majority is not supported in all respects by those who join in part.

The NY Times comments: “there was a clear message for patent trolls, patent brokers and licensing companies, patent lawyers and lobbyists: Play on!”

Full decision here (.pdf)