Banking Patents On Shaky Ground Under New Law

Law360, New York (September 21, 2011, 1:23 PM EDT) -- Business method patents related to the financial services industry will be subject to greater scrutiny and possible invalidation under a provision of the America Invents Act that attorneys say provides a potent weapon for banks accused of infringement.

The special post-grant review system, described in the patent reform law as the "transitional program for covered business method patents," takes aim at certain patents that many banks view as dubious attempts to protect long-standing industry practices.

Once the new system goes into effect next year, any company...
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