Law360, New York (May 25, 2011, 2:49 PM EDT) -- Patent litigation is rapidly becoming a fact of business life in the insurance and financial sectors of the U.S. economy. While patent litigation was once rare in these industries, today such litigation is common. Many of the cases are brought by so-called nonpracticing entities or "NPEs" that do not use the patents themselves.
Rather, the NPEs sue to collect royalties for the alleged use of the patents. Very often, the patents themselves are called "business method patents." These are patents that typically claim the use of a computer system to automate some aspect of a business operation.
Insurance and financial services...
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