Instinet Nabs Partial Win In 40-Year Licensing Feud

By Liz McKenzie

Law360, New York (March 09, 2010, 7:42 PM ET) -- A judge has granted partial summary judgment in favor of securities trading software maker Instinet Inc. in a dispute over a 1970s-era contract that one-time collaborator Ariel UK Ltd. claims entitles it to royalties from the trading software Instinet has produced since then.

In a ruling handed down Friday in the U.S. District Court for the Southern District of New York, Judge John Keenan found that a 1975 agreement between Instinet and Ariel did not grant Ariel perpetual rights to Instinet’s technology.

The court also found...
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