Bilski: Crossroads Of Wall Street And State Street
October 6, 2008, 12:00 AM EDT
Law360, New York (October 6, 2008, 12:00 AM EDT) -- Ten years ago, when someone mentioned patents, companies such as American Express, Bank of America and JP Morgan probably did not come to mind. Today, a quick search of the United States Patent and Trademark Office (PTO) database reveals that these and other companies have amassed significant patent portfolios on inventions in the banking and financial services industries.
Patents protecting these and other business practices are commonly referred to as “business method patents” and have been a lightning rod of controversy since the landmark decision in...