Method Patents cover individual steps which are used to obtain a certain useful result. One example are financial algorithms used to pick stocks.
What are Method/Process/Business Method Patents?
Term of Method Patents
Method Patents are given a term of 20 years from the filing date of the Patent Application.
How do Utility Patents differ from Method Patents?
The main difference is that with Utility Patents, you can actually see, touch, and feel the invention. With Method Patents, the steps or processes are patented. Note that these steps may be further defined by the mechanical devices used to operate them.