The U.S. Supreme Court unanimously rejected Monday an effort to patent a way to smooth energy costs, but pleased some high-tech industries by saying the current test for business method patents may be too narrow.

The case had been closely watched by a wide range of interests.

Some software and biotechnology companies wanted a broad definition of what can be patented because they license processes. Others, such as some financial institutions, wanted restrictions on business method patents to avoid lawsuits. Get the full story »