Sign up for our free daily newsletter
YOUR PRIVACY - PLEASE READ CAREFULLY DATA PROTECTION STATEMENT
Below we explain how we will communicate with you. We set out how we use your data in our Privacy Policy.
Global City Media, and its associated brands will use the lawful basis of legitimate interests to use
the
contact details you have supplied to contact you regarding our publications, events, training,
reader
research, and other relevant information. We will always give you the option to opt out of our
marketing.
By clicking submit, you confirm that you understand and accept the Terms & Conditions and Privacy Policy
In a flurry of lawsuits which have named eight of the country’s largest financial companies – including Bank of America and JP Moran Chase - Intellectual Ventures claims widespread infringement of its intellectual property.
The Financial Times reports that the claims come amid moves from Washington to combat patent ‘trolls’ – those who buy up patents to force settlements.
Licensing deals
Intellectual Ventures’ general counsel, David Kris, denied that the law suits were ‘frivolous’, adding that the company backed proposed legislation to stamp out such claims.
Intellectual Ventures claims it was forced to act as the banks failed to sign licensing deals to use security technology.
Although none of the banks were prepared to comment on the lawsuits, an industry expert told the FT that Intellectual Ventures is seen as a ‘drag on innovation’, adding that ‘it’s hard to see how their actions are beneficial for the economy or their own shareholders’.
Email your news and story ideas to: [email protected]