28 October 2008
Strategic Thought granted patent for Active Risk Manager in the United States
Strategic Thought Limited has been granted a patent covering features of its Enterprise Risk Management solution, Active Risk Manager, by the United States Patent and Trademark office. Active Risk Manager (ARM) was launched in 2001 as the first truly web-based enterprise risk management software system.
Active Risk Manager increases the quality and efficiency of management processes by providing a single solution to record, aggregate and mitigate risks across the whole enterprise. It will also help identify emerging opportunities and enable organisations to have more certainty in achieving their business plans. The product is now the most widely deployed Enterprise Risk Management (ERM) system worldwide and is in use at many leading organizations including Lockheed Martin, NASA, Nestle and Network Rail in the UK.
Martin Metcalf, Chief Executive Officer of Strategic Thought said, “We opened our first office in the United States in 2004. Since then the customer base has grown to include several US government departments and numerous US defence contractors including Northrop Grumman and Raytheon. With an increasing number of commercial organizations adopting ARM for Enterprise Risk Management, this patent was an important step forward in our plans and our aim to enable organizations to balance risks and rewards through our comprehensive enterprise risk management solution.”
The United States Patent and Trademark Office (USPTO) was established by US Congress to issue patents on behalf of the US government. A patent cannot be obtained for a known or obvious idea so Strategic Thought had to demonstrate that Active Risk Manager is an improvement over previous ERM systems prior to the application being granted. Once received a patent excludes others from making, using, offering for sale or selling the product in the US or importing it into the country. The USPTO receives patent applications at the rate of over 350,000 per year.
The patent was allocated number 7,440,905 and is valid for 20 years from the date the application was filed.
About Strategic Thought Group Plc
Strategic Thought was founded in 1987 in the UK and opened offices in the US in 2004. Strategic Thought is a technology and services company that provides world-class risk management software (Active Risk Manager) and solutions to many of the globe’s largest organisations.
For further information please visit: www.strategicthought.com
Mary Phillips/Andreina West
PR Artistry Limited – UK
T: +44 (0)1491 639500
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