PTAB Axes Nasdaq Trading Patent Under Alice In CBM

Law360 (February 26, 2020, 8:07 PM EST) -- The Patent Trial and Appeal Board has struck down a Nasdaq electronic trading patent in a covered business method review, finding that the patent covers the abstract idea of routing messages to processors under the U.S. Supreme Court's Alice test.

In a 60-page final written decision Tuesday, the PTAB found that each of the challenged claims in Nasdaq's patent were invalid under the high court's 2014 ruling in Alice v. CLS Bank, which held that abstract ideas aren't patent eligible.

Siding with Investors Exchange LLC, which had challenged the patent, the board found that the claims describe the "fundamental economic practice"...

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