This paper will explore the emerging trend of business methods patenting by posing the following question: “Is the growing emphasis on asserting ownership over some forms of intellectual capital inimical to the organization’s ability to realize value from innovation?”. The legal landscape for patenting in both the USA and Europe will be reviewed, focusing on how the law has expanded protection over time to include intangibles such as business methods and software. The authors will depict how awareness of these changes has made its way into the general business discussion, examining arguments for and against business methods patenting from both a public policy and a business perspective. They will then explore how the emerging requirements for fast‐paced innovation may impact an organization’s decision to pursue an aggressive patenting strategy. Finally, the authors will outline a set of considerations for organizations considering the plunge into business methods patenting.