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  • Writer's pictureKirk Hartley

Big Banks Oppose Business Method Patents – the Patent Litigation Sector Rolls On

When are patents good, or not so good, for businesses? An October 29, 2014 article at AmLaw describes big banks attacking purported patent trolls. As is so often the case these days, the litigation is brought by an association of interested parties. The article starts as follows; read it all for useful information on the processes of the patent litigation industry:

“Wall Street may not be as vulnerable to patent infringement lawsuits as Silicon Valley or the pharmaceuticals industry. But the gap is narrowing—and major banks are collaborating in an effort to keep accused patent trolls at bay.

The Patent Quality Initiative, a group formed earlier this month by the The Clearing House Payments Company, announced Monday that it had fired off a barrage of briefs aimed at undermining patents (and patent holders) that threaten the association’s two dozen global megabank members. The papers were filed last week by a Clearing House entity called Askeladden LLC—named for a Norwegian folk hero known for outwitting trolls.”

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